Defence Stocks in India — Full List
33 stocks · Data as of 9 Nov 2026
The defence table below lists 33 companies. The five largest by market capitalisation are Larsen & Toubro Limited, Mahindra & Mahindra Limited, Adani Enterprises Limited, Hindustan Aeronautics Limited and Bharat Electronics Limited, at closing prices on 9 Nov 2026.
Defence stocks are companies that earn a significant share of revenue from India's armed forces and defence exports — shipbuilders, aerospace and missile makers, electronics and radar suppliers, and ordnance manufacturers, many of them public-sector undertakings. This list is defined by membership of the two defence indices rather than by editorial judgement.
Every company is listed with the latest close, market capitalisation, valuation, return on capital, revenue growth and a balance-sheet quality score, sorted largest first.
| # | Symbol | Company | Sector | Price (₹) | Market Cap (₹ Cr) | P/E | ROCE (%) | Rev. Growth YoY (%) | Piotroski | vs 52W High (%) |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | LT | Larsen & Toubro Limited | Industrials | ₹4,185 | 5,75,809 | 35.79 | 11.32% | 10.03% | 4/9 | -5.74% |
| 2 | M&M | Mahindra & Mahindra Limited | Consumer Cyclical | ₹3,290.6 | 3,95,123 | 21.49 | 14.90% | 24.06% | 4/9 | -14.31% |
| 3 | ADANIENT | Adani Enterprises Limited | Energy | ₹2,706.3 | 3,66,149 | 35.77 | 3.87% | 2.63% | 5/9 | -16.60% |
| 4 | HAL | Hindustan Aeronautics Limited | Industrials | ₹4,999 | 3,34,321 | 36.68 | 7.68% | 6.80% | 4/9 | -2.93% |
| 5 | BEL | Bharat Electronics Limited | Industrials | ₹394.55 | 2,88,407 | 47.59 | 29.65% | 16.16% | 4/9 | -16.66% |
| 6 | SOLARINDS | Solar Industries India Limited | Basic Materials | ₹19,024 | 1,72,148 | 102.62 | 27.99% | 30.47% | 6/9 | -16.19% |
| 7 | ASHOKLEY | Ashok Leyland Limited | Industrials | ₹174.86 | 1,02,710 | 29.59 | 15.96% | 16.00% | 4/9 | -18.83% |
| 8 | BHARATFORG | Bharat Forge Limited | Consumer Cyclical | ₹1,725 | 84,296 | 76.67 | 15.43% | 11.17% | 6/9 | -24.84% |
| 9 | MAZDOCK | Mazagon Dock Shipbuilders Limited | Industrials | ₹1,878 | 75,755 | 29.33 | 18.69% | 13.77% | 5/9 | -33.64% |
| 10 | BDL | Bharat Dynamics Limited | Industrials | ₹1,109.65 | 40,676 | 96.74 | 1.86% | -27.00% | 3/9 | -32.06% |
| 11 | PTCIL | PTC Industries Limited | Industrials | ₹24,680 | 39,111 | 364.23 | 5.61% | 95.66% | 4/9 | -5.39% |
| 12 | COCHINSHIP | Cochin Shipyard Limited | Industrials | ₹1,290 | 33,937 | 47.36 | 10.41% | 4.19% | 2/9 | -30.00% |
| 13 | GRSE | Garden Reach Shipbuilders & Engineers Limited | Industrials | ₹2,195 | 25,144 | 33.62 | 26.88% | 38.08% | 4/9 | -34.26% |
| 14 | DATAPATTNS | Data Patterns (India) Limited | Industrials | ₹4,025 | 22,534 | 83.04 | 19.62% | 30.55% | 3/9 | -19.50% |
| 15 | HBLENGINE | HBL Engineering Ltd. | Industrials | ₹796 | 22,065 | 27.08 | 44.73% | 69.06% | — | -29.05% |
| 16 | LMW | LMW Ltd. | Industrials | ₹17,326 | 18,509 | 141.59 | 1.58% | 10.26% | — | -14.02% |
| 17 | MTARTECH | MTAR Technologies Limited | Industrials | ₹5,470 | 16,826 | 178.93 | 13.40% | 31.83% | 5/9 | -37.23% |
| 18 | BEML | BEML Limited | Industrials | ₹1,991 | 16,583 | 117.32 | 5.20% | 7.53% | 3/9 | -9.71% |
| 19 | AEQUS | Aequs Ltd | Capital Goods | ₹236 | 15,828 | — | 111.00% | — | — | -19.97% |
| 20 | ASTRAMICRO | Astra Microwave Products Limited | Technology | ₹1,657.5 | 15,737 | 81.57 | 19.73% | 10.61% | 6/9 | -15.43% |
| 21 | APOLLO | Apollo Micro Systems Limited | Industrials | ₹415.5 | 15,440 | 130.66 | 13.11% | 60.89% | 4/9 | -10.93% |
| 22 | ZENTEC | Zen Technologies Limited | Industrials | ₹1,713 | 15,393 | 79.6 | 11.23% | -29.37% | 5/9 | -16.18% |
| 23 | ARVIND | Arvind Limited | Consumer Cyclical | ₹502 | 13,159 | 31.77 | 14.45% | 14.67% | 5/9 | -17.32% |
| 24 | RKFORGE | Ramkrishna Forgings Limited | Industrials | ₹716 | 13,043 | 180.35 | 6.14% | 5.06% | 4/9 | -7.35% |
| 25 | PARAS | Paras Defence and Space Technologies Limited | Industrials | ₹1,258.8 | 10,144 | 115.17 | 14.01% | 30.69% | 6/9 | -20.58% |
| 26 | UNIMECH | Unimech Aerospace and Manufacturing Ltd. | Industrials | ₹1,803.5 | 9,180 | 144.98 | 6.27% | -0.38% | — | -5.13% |
| 27 | DYNAMATECH | Dynamatic Technologies Limited | Consumer Cyclical | ₹12,910 | 8,768 | 270.48 | 8.99% | 15.50% | 7/9 | -10.95% |
| 28 | AXISCADES | Axiscades Technologies Limited | Industrials | ₹1,799.4 | 7,653 | 106.35 | 14.41% | 12.44% | 3/9 | -23.75% |
| 29 | MIDHANI | Mishra Dhatu Nigam Limited | Basic Materials | ₹395.4 | 7,407 | 56.32 | 7.19% | 12.52% | 4/9 | -18.03% |
| 30 | JKPAPER | JK Paper Limited | Basic Materials | ₹364.05 | 6,601 | 24.83 | 6.54% | 5.33% | 6/9 | -17.64% |
| 31 | CYIENTDLM | Cyient DLM Limited | Technology | ₹782.1 | 6,209 | 84.73 | 7.31% | -16.99% | 4/9 | -26.29% |
| 32 | IDEAFORGE | ideaForge Technology Limited | Technology | ₹673.5 | 3,349 | — | -6.23% | 40.26% | 6/9 | -32.12% |
| 33 | DCXINDIA | DCX Systems Limited | Industrials | ₹140.9 | 1,569 | — | -2.14% | -31.41% | 2/9 | -37.64% |
Methodology: Union of the Nifty India Defence and BSE India Defence index constituents, matched to the InvestSights screening dataset. Sorted by market capitalisation.
Frequently asked questions
How many defence stocks are listed in India?
This table lists 33 companies that are constituents of the Nifty India Defence or BSE India Defence index as of 9 Nov 2026. Companies with a smaller defence business that the index providers do not classify as defence are not included.
Which is the largest defence stock in India?
By market capitalisation the largest in the current table is Larsen & Toubro Limited, followed by Mahindra & Mahindra Limited, Adani Enterprises Limited.
Are defence stocks mostly PSUs?
Many of the largest are — shipyards, aerospace and electronics companies owned by the central government — but the indices also include private-sector suppliers. The promoter-holding column on each stock page shows the government stake where it exists.
How often is this list updated?
The table is rebuilt from the InvestSights database on every visit. Prices and 52-week ranges update after each trading day's close; fundamentals update as companies file results. The date shown at the top is the price date the table reflects — currently 9 Nov 2026.
Is this a recommendation to buy these stocks?
No. This page is a factual list built from published market data and filings. It does not rate, rank for suitability, or recommend any security. InvestSights is not a SEBI-registered Research Analyst or Investment Adviser.
Related: All stock lists · Stock screener · Methodology & data sourcing
InvestSights is an analytics platform and is not SEBI-registered as a Research Analyst or Investment Adviser. All figures are educational, descriptive data — not investment advice. Consult a SEBI-registered adviser before investing.