By Admin 
Defense Stocks Rally: On Friday, the last trading day of last week, a tremendous jump was seen in defense stocks. From Data Patterns (India) to Bharat Dynamics (BDL) and many other defense stocks jumped up to 9 percent.
Shares of Data Patterns (India) reached the day’s highest level of Rs 3190 with a gain of 9 percent, which is more than its previous closing price of Rs 2,909.90. At the same time, shares of Bharat Dynamics (BDL) rose by 3.14 percent to reach Rs 1,314.55. The reason for this rise in defense stocks is the agreement between India and France regarding Rafale fighter jet.
What was the deal between the two countries?
During his three-day visit to India, French President Macron confirmed that both India and France are entering the era of defense cooperation. According to a Reuters report, French President Emmanuel Macron said that in this new era, India plans to jointly manufacture helicopters and Rafale jets. Yes, both India and France are working together on making new age engines, fighter jets, submarines, multi-role helicopters. Macron further said that France also hopes to sell submarines to India.
Apart from this, the hope has also increased due to the approval received from the Defense Acquisition Council of India, which mentions the purchase of 114 Rafale jets in a deal worth Rs 3.25 lakh crore. This is a big step taken towards strengthening the defense sector of the country.
This is also the reason for the rise in defense stocks
Another reason for the rise in defense stocks is the increasing tension between America and Iran. US President Donald Trump has given Iran 10-15 days to make a nuclear deal, otherwise it has warned of dire consequences. Meanwhile, American aircraft carrier USS Abraham Lincoln and 3 warships have reached the Middle East. Iran also made a military deal with Russia on Thursday. It is clear from this that if talks with Tehran on nuclear deal fail, then both the countries are ready for war.
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