New Delhi, April 1 -- Defence stocks staged a sharp rally on Wednesday, April 1, the first day of the new financial year 2026-27. Stocks such as GRSE, BEL, HAL, Mazagon Dock, Cochin Shipyard, BDL, and Astra Microwave Products are witnessing strong gains after a string of robust business updates, fresh orders, and provisional FY26 performance announcements.

The rally also came amid sustained optimism around India's defence manufacturing push and a recent wave of large procurement approvals, keeping the sector firmly in focus for investors looking for momentum as well as longer-term structural growth.

Leading the pack was Garden Reach Shipbuilders & Engineers (GRSE), whose shares surged 20% to Rs.2,365 on the BSE after the state-run shipy...