HAL, Mazagon Dock, Bharat Dynamics shares hit 52-week highs as defence stocks gain

Shares of defence companies in India surged following an agreement between India and the US on a roadmap for military-industrial cooperation during the visit of US Secretary of Defence Lloyd Austin. Companies including Mazagon Dock, Hindustan Aeronautics, and Bharat Dynamics hit fresh 52-week highs. The initiative looks to change the paradigm for cooperation between the two countries’ defence sectors and could provide India access to cutting-edge technologies.