Cochin Shipyard, Garden Reach Shipbuilders & Engineers, BEML, Mazagon Dock shares among other defence stocks rallied sharply on Tuesday, defying weakness in the broader Indian stock market. The Nifty India Defence index surged 1.8% to hit a fresh record high, even as benchmark indices Sensex and Nifty 50 slipped over half a percent.

The sectoral index has now gained in 9 out of the past 10 trading sessions, highlighting sustained investor interest. Since its recent low on May 9, 2025, the defence sector index has climbed nearly 30%, and is up 76% from its March 3, 2025 low.

Cochin Shipyard emerged as the top gainer on the index, rallying as much as 6.6%. Other notable performers included Garden Reach Shipbuilders & Engineers, Unimech Aerospace and Manufacturing, BEML, Solar Industries, Astra Microwave Products, Mazagon Dock Shipbuilders, Dynamatic Technologies, and Zen Technologies, all of which gained between 3% and 5%.

On the downside, Cyient DLM, Hindustan Aeronautics, Bharat Dynamics, and Bharat Electronics were among the few laggards in the index.

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