India, June 14 -- Unverified industry projections fuel rally in defence-related stocks

A Reuters report published on 3rd June citing industry sources about a potential large-scale military drone procurement programme was followed by a sharp rally in drone and defence-related stocks, even as the basis of the widely reported Rs 20,000 crore figure remains unclear.

The report stated that India was preparing what could become its largest military drone procurement programme, with orders worth more than $2 billion expected to be placed with domestic manufacturers. Reuters attributed the information to industry sources and quoted Drone Federation of India President Smit Shah as saying that tactical drone procurements in India "may exceed 200 ...