Defence Stocks Rally: BEL, HAL, BDL, Mazagon Dock rise amid buzz around Rs 6,000-crore BrahMos Vietnam deal

Defence shares in Focus: Shares of defence public sector companies remained in focus on Thursday amid expectations of fresh export opportunities linked to Defence Minister Rajnath Singh’s strategic visit to Vietnam and South Korea.

Bharat Electronics Limited rose 1.62 per cent to Rs 420, while Hindustan Aeronautics Limited gained 1.3 per cent to Rs 4,382.70. Mazagon Dock Shipbuilders Limited advanced 1.07 per cent to Rs 2,464, while Bharat Dynamics Limited traded marginally higher at Rs 1,308.30.

The rally comes as India accelerates efforts to achieve its ambitious Rs 50,000 crore defence export target by 2030, with missile exports, military maintenance support and defence technology partnerships emerging as key pillars of the government’s strategy.

Vietnam BrahMos deal in spotlight

According to sources, a nearly Rs 6,000 crore BrahMos missile deal with Vietnam remains one of the major focus areas during the visit. If finalised, Vietnam would become the second Southeast Asian nation after the Philippines to operate the BrahMos supersonic cruise missile system.

The potential deal is expected to benefit multiple Indian defence PSUs involved in the BrahMos ecosystem.

Sources said Bharat Electronics Limited supplies guidance systems and launcher electronics for the missile platform, while Bharat Dynamics Limited manufactures key missile sub-systems and undertakes warhead integration.

India offers MRO support to Vietnam

Apart from missile exports, India has also proposed long-term Maintenance, Repair and Overhaul (MRO) support for Vietnam’s Sukhoi-30 fighter jets and Kilo-class submarines.

Under the proposed arrangement, Hindustan Aeronautics Limited is expected to support Vietnam’s Su-30 fleet, while Mazagon Dock Shipbuilders Limited could provide maintenance and technical support for Kilo-class submarines.

The move reflects India’s broader strategy to expand defence cooperation beyond equipment sales and establish long-term strategic partnerships through servicing, maintenance and lifecycle support infrastructure.

South Korea discussions to focus on advanced defence tech

During the South Korea leg of the visit, Defence Minister Rajnath Singh is expected to hold discussions around artificial intelligence, autonomous systems, defence manufacturing, shipbuilding and technology transfer.

The talks are likely to explore future industrial partnerships and joint development opportunities between Indian and South Korean defence firms.

India sharpens defence export ambitions

India has been steadily increasing its focus on defence exports as part of its broader push for defence indigenisation and strategic manufacturing expansion.

Alongside missiles and naval systems, the government is increasingly pitching integrated defence solutions that include maintenance support, training services, repair infrastructure and technology partnerships to friendly nations.

Zee Business reached out to the Ministry of Defence as well as Bharat Electronics Limited, Bharat Dynamics Limited, Hindustan Aeronautics Limited and Mazagon Dock Shipbuilders Limited for official comments. No response had been received till the time of publication.