Defense Stocks Soar to Record Highs Following Exit Poll Predictions

Shares of Hindustan Aeronautics (HAL), Bharat Dynamics (BDL), Bharat Electronics (BEL), and other defense companies surged to lifetime highs on June 3 after exit polls suggested the incumbent government would remain in power.

Key Highlights:

  • HAL: Stock rose 9.45% to a record high of Rs 5,444. Up 88% this year and 180% over the last year.
  • BDL: Stock increased by 6.7% to Rs 1,662.95. Up 88% year-to-date and 187.28% in the past year.
  • BEL: Shares jumped over 9% to a new high of Rs 323.
  • BEML: Shares also surged over 9% to reach Rs 4,800.

Market Impact:

  • Other Gainers: Paras Defence, Solar Industries, Mazagon Dock, MTAR Technologies, Cochin Shipyard, Bharat Forge, Avantel, Garden Reach Shipbuilders & Engineers, and Astra Microwave Products saw gains around 7% during intraday trading.

Analyst Insights:

  • Axis Securities: Predict continued focus on public infrastructure development, including roads, water, metro, railways, defense, digital infrastructure, and green technologies.
  • Kotak Institutional Equities: Expect government to keep focusing on defense, railways, roads, and manufacturing sectors.


The exit polls indicating a strong win for the NDA and BJP have boosted investor confidence in defense stocks, pushing them to record highs. Analysts remain optimistic about continued government support in key infrastructure areas.

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