Defence stocks namely Hindustan Aeronautics, Bharat Electronics (BEL), Cochin Shipyard, Mazagon Dock Shipbuilders among others will gain traction in Wednesday's trade (November 4) after Zee Business confirmed the news that the centre has given its go-ahead for 5 procurement proposals worth around Rs 21,800 crore.

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As per reports, the Defence Acquisition Council (DAC) headed by Defence Minister Rajnath Singh on Tuesday (December 3, 2024) approved five capital acquisition proposals including, water jet fast attack craft, fast interceptor craft, Electronic Warfare Suite (EWS), next-generation radar warning receiver and Advanced Light Helicopters for surveillance in coastal areas.

On the development stocks from the pack rose up to 5 per cent with Avantel leading the pack with gains of 4.9 per cent followed by Mazagon Dock Ship Builders which also gained as much as 4.74 per cent at the day's high.

Other stocks that gained were Paras Defence up as much as 4 per cent to the day's high price of Rs 1,132.4 per share.

Stocks to buy

Zee Business Managing Editor Anil Singhvi has given his buy recommendation for BEL stock futures keeping a stop loss of Rs 307 for a target of Rs 317, 322 per share.

Also he has recommended to buy HAL stock futures keeping a stop loss at Rs 4,480 per share for a target of Rs 4,590, Rs 4,635  and Rs 4,690.

Vikas Sethi-another Zee Business Panelist also recommeded a buy in HAL Futures for a target of Rs 4,600-keeping a stop loss of Rs 4,100.