Nifty India Defence stocks list
NSETheme22 companies
- P/EPrice to earnings of an index. The index's P/E as the exchange publishes it with the close: its members' market value divided by their profit over the last twelve months, each member counted as the index weighs it. Price to earnings of an index: how it is worked out
- 54.72
- P/BPrice to book of an index. The index's P/B as the exchange publishes it: its members' market value divided by their net worth, the assets they own less everything they owe.
- 10.27
- Dividend yieldDividend yield of an index. The index's dividend yield as the exchange publishes it: dividends its members paid over the last twelve months as a percentage of their market value.
- 0.53%
- 1MOne-month return of an index. The latest close against the close a month earlier, on the same date or the last trading day before it, as a percentage. One-month return of an index in the glossary
- −4.86%
- 3MThree-month return of an index. The latest close against the close three months earlier, on the same date or the last trading day before it, as a percentage. Three-month return of an index in the glossary
- −4.69%
- 1YOne-year return of an index. The latest close against the close a year earlier, on the same date or the last trading day before it, as a percentage. One-year return of an index in the glossary
- +8.65%
P/E against its own past
Where today's P/E sits among every trading day of each window: the dot is today, the tick the middle day.
At or below today's level on 72% of 1,183 trading days over the last 5 years.
At or below today's level on 56% of 744 trading days over the last 3 years.
At or below today's level on 42% of 247 trading days over the last 1 year.
P/E at each month's last trading day, and on 28 Oct 2026
What the Nifty India Defence companies earned
Revenue against the same quarter a year earlier, over today's members that filed both; profit after tax added up over the members that filed the quarter. A quarter fewer than 60% of them filed is left out, and the newest is added once nearly as many have filed it as the one before.
- Revenue growthRevenue growth, against a year earlier. Revenue of the quarter to Jun 2026 against the same quarter a year earlier, added up over the 18 companies that filed both.
- +26.1%quarter to Jun 2026
- ProfitProfit after tax, added up. Profit after tax of the quarter to Jun 2026, added up over the 22 companies that filed it; a loss counts as negative.
- ₹4,488 Crquarter to Jun 2026
- Filed the quarterCompanies that filed the quarter. How many of the index's 22 listed companies have filed results for the quarter to Jun 2026; the revenue growth and the profit are theirs.
- 22of 22
- Median ROCEMedian return on capital employed. The middle figure of the 22 companies' ROCE for the year to Mar 2026, half above and half below. Operating profit after depreciation (revenue less operating expenses and depreciation, without other income and one-off items) as a percentage of all the money the business runs on: the whole group's net worth, the other owners of its subsidiaries included, plus borrowings. Lease liabilities are not counted: the results filings do not state them.
- 11.7%year to Mar 2026
Revenue against the same quarter a year earlier, per cent
Profit after tax, ₹ crore, added up over the companies that filed
The largest companies
The 12 largest companies in the Nifty India Defence, each sized by its market cap.
Market cap, ₹ crore
- Hindustan Aeronautics₹3,24,356 Cr
- Bharat Electronics₹2,65,601 Cr
- Solar Industries India₹1,74,103 Cr
- Bharat Forge₹86,006 Cr
- Mazagon Dock Shipbuilders₹69,898 Cr
- Bharat Dynamics₹36,381 Cr
- Cochin Shipyard₹29,725 Cr
- Data Patterns (India)₹22,310 Cr
- Garden Reach Shipbuilders & Engineers₹21,737 Cr
- Mtar Technologies₹21,459 Cr
- Sigma Advanced Systems₹17,175 Cr
- BEML₹16,363 Cr
Companies in the Nifty India Defence
Largest first, by market cap.
Solar Industries IndiaSOLARINDS · Chemicals & Petrochemicals₹19,240.00−0.16%₹1,74,103 Cr87.4035.3%0.06%+38.9%
Mazagon Dock ShipbuildersMAZDOCK · Industrial Manufacturing₹1,732.80−1.21%₹69,898 Cr–17.2%1.05%−37.7%
Garden Reach Shipbuilders & EngineersGRSE · Aerospace & Defense₹1,897.60−1.72%₹21,737 Cr27.2029.8%1.03%−26.2%
BEMLBEML · Agricultural, Commercial & Construction Vehicles₹1,964.60−1.70%₹16,363 Cr91.808.1%0.87%−9.1%
Astra Microwave ProductsASTRAMICRO · Aerospace & Defense₹1,568.60+0.01%₹14,893 Cr78.8017.4%0.15%+49.1%
Paras Defence and Space TechnologiesPARAS · Aerospace & Defense₹1,302.60+1.13%₹10,497 Cr111.1015.0%0.08%+83.3%
Unimech Aerospace and ManufacturingUNIMECH · Aerospace & Defense₹1,638.10−3.16%₹8,338 Cr94.609.8%None+56.1%
Dynamatic TechnologiesDYNAMATECH · Industrial Manufacturing₹12,213.00−1.67%₹8,294 Cr195.509.2%0.11%+56.7%
Changes to the list
Each list of the index's companies against the one before it. The date is the list's own, the day the new list was published.
9 Oct 2026against the list of 8 Sep 2026
3 joined · 0 leftLeft0 companies
None.
Funds that follow the Nifty India Defence
5 index funds and ETFs track the Nifty India Defence; 2 other funds use it as their benchmark.Nifty India Defence index funds and ETFs
Motilal Oswal Nifty India Defence Index FundIndex Fund · Motilal Oswal Mutual FundNAV₹11.54731Y+8.42%3Y–5Y–Size₹5,384 CrCost0.56%
Aditya Birla Sun Life Nifty India Defence Index FundIndex Fund · Aditya Birla Sun Life Mutual FundNAV₹12.62421Y+8.61%3Y–5Y–Size₹1,349 CrCost0.46%- Motilal Oswal Nifty India Defence ETFETF · Motilal Oswal Mutual FundNAV₹96.80321Y+8.61%3Y–5Y–Size₹1,337 CrCost0.60%
Groww Nifty India Defence ETFETF · Groww Mutual FundNAV₹88.07611Y+8.56%3Y–5Y–Size₹357 CrCost0.64%
Axis Nifty India Defence Index FundIndex Fund · Axis Mutual FundNAV₹9.77571Y–3Y–5Y–Size₹330 CrCost0.65%
About the Nifty India Defence
Nifty India Defence is an index of stocks from the Nifty Total Market that are in eligible basic industries or obtain at least 10% of revenues from the defence industry. It is developed by NSE Indices and held 22 companies on 30 Sep 2026.
How companies are chosen
Three industries qualify: aerospace and defence, explosives, and shipbuilding. Stocks on the Society of Indian Defence Manufacturers (SIDM) member list also qualify if they obtain at least 10% of revenues from the defence segment.
The index holds at least 10 and at most 30 stocks. If fewer than 10 qualify, the shortfall is filled from stocks ranked within the top 1000, then the top 1100, top 1200 and so on, by average daily turnover and average daily full market capitalisation.
Eligible stocks are chosen by their average free-float market capitalisation over 6 months.
How it is weighted
Stocks are weighted by free float market capitalization. Free float is the part of a company's shares expected to be available for trading, based on the public category of its shareholding pattern; shares reported under the promoter category are excluded from the free float factor.
Each weight is capped at 20% every quarter, in Mar, Jun, Sep and Dec, and weights drift between those dates as prices move.
When it is reviewed
The index is reconstituted twice a year, in Mar and Sep, along with the Nifty broad-based indices, using data for the six months ending Jan and Jul.
Base date and value
The index has a base date of 2 Apr 2018 and a base value of 1000. It launched on 19 Jan 2022.
- Published by
- NSE
- Kind
- Theme
- CompaniesCompanies in an index. How many companies the index holds on its current list, which the exchange revises from time to time. Companies in an index in the glossary
- 22
- List last changed
- 9 Oct 2026
- Above 200-day averageMembers above their 200-day average. The share of the index's members whose latest close is above their own average close of the last 200 trading days; members listed too recently to have one are left out. Members above their 200-day average in the glossary
- 14 of 22
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