India, June 19 -- Indian defence stocks have staged a spectacular rally on the bourses this week, led by a blistering performance from Paras Defence and Space Technologies. Shares of the small-cap firm have surged an impressive 28% in just three trading sessions, extending a broader trend that has seen the Nifty Defence Index scale fresh lifetime highs. The share price of the Paras Defence and Space Technologies rallied as much as 10% to its day's high of Rs 1,439 on the BSE on Friday. This surge in market confidence follows the Ministry of Defence's latest announcement confirming that India's annual defence production reached a record of Rs 1.78 lakh crore in the 2025-26 fiscal year.

India's 'Atmanirbhar' Success Story

The rally is und...