Mumbai, July 4 || Defence stocks were trading in positive territory on Friday, a day after the union government approved the purchase of defence equipment worth Rs 1.05 lakh crore.
Shares of all major public sector defence companies, including BEL, BEML, Hindustan Aeronautics, and Mazagaon Dock Shipbuilder, rose by up to 4.5 per cent during intraday trading.
Mazagaon Dock Shipbuilders shares were up 1.46 per cent at Rs 3,337.80 on NSE. The shipbuilding company's shares opened at Rs 3,320.0 and rose to hit an intra-day high of Rs 3,369.0 during the trading hours.
Bharat Electronics shares started the trade with a decent gap-up at Rs 430.0 against the previous day's closing price of Rs 426.25 on NSE.
The defence stock further rose to hit an intra-day high at Rs 432.40. However, the stock erased most of its gain, trading at Rs 426.50, up 0.59 at around 2:08 pm.