The Indian defense stocks rallied following reports that the Indian Air Force (IAF) proposed acquiring 114 Made in India Rafale jets, with discussions ongoing at the Ministry of Defence. Companies like Hindustan Aeronautics (HAL) and Bharat Dynamics (BDL) saw significant stock increases. The deal emphasizes over 60% indigenous content, aligning with India’s push for self-reliance in defense manufacturing. HAL is also set to deliver Tejas MK1A aircraft soon, which could bolster its order backlog and financial outlook amid anticipated double-digit growth. This reflects India’s commitment to enhancing its defense capabilities and supporting domestic industries, while execution timelines remain crucial for success.