2 weeks ago
Defence stocks rally, Lenskart gains, NMDC falls in India
The stock market is where people buy and sell small parts of companies, called shares.
On August 18, the Indian stock market was not doing very well overall.
But some companies' shares still went up, and some went down.
Lenskart, a company that makes eyeglasses, saw its shares go up because it opened a new small company in China.
That new company will help Lenskart buy and sell spectacle frames.
Defence companies like Hindustan Aeronautics, Bharat Dynamics and BEML also went up.
Their shares rose because the Indian government said it wants to buy defence items worth about Rs 3,070 crore.
Big orders are good for these companies.
But NMDC, a company that mines metals, saw its shares go down.
That is because its recent earnings were weak and its costs are high.
So on the same day, some companies were happy while others were not.
Indian benchmark indices remained under pressure by midday on August 18, with the Nifty 50 near 24,195 and the Sensex near 77,348.
Lenskart Solutions shares surged 3.4% after the eyewear company incorporated Wenzhou Framekart Trade Co., Ltd as a step-down subsidiary in China.
Defence stocks including Hindustan Aeronautics, Bharat Dynamics and BEML rose after the Ministry of Defence announced a Rs 3,070 crore procurement opportunity covering 405 strategically important items.
The Ministry of Defence said 389 items will be purchased by defence PSUs, including purchases for the Indian Coast Guard.
NMDC fell 2.3% for a second consecutive session on muted Q1 earnings growth and higher costs, despite improving metal prices.
- Who
- Indian benchmark indices and companies including Lenskart Solutions, Hindustan Aeronautics, Bharat Dynamics, BEML and NMDC, along with the Ministry of Defence.
- What
- Mixed midday stock moves: defence stocks rose on a Rs 3,070 crore procurement opportunity, Lenskart gained on incorporating a Chinese step-down subsidiary, and NMDC declined on muted Q1 earnings.
- Where
- Indian stock markets, with the Nifty 50 near 24,195 and the Sensex near 77,348; Lenskart's new subsidiary is based in China.
- When
- August 18, during midday trading.
- Why
- Defence stocks were lifted by the Ministry of Defence's Rs 3,070 crore procurement plan; Lenskart rose on its China subsidiary news; NMDC fell due to muted earnings growth and higher costs.
Key facts
- Nifty 50 (midday)
- ~24,195
- Sensex (midday)
- ~77,348
- Lenskart share move
- +3.4%
- Lenskart new subsidiary
- Wenzhou Framekart Trade Co., Ltd (China)
- Defence procurement value
- Rs 3,070 crore
- Strategically important defence items
- 405 items; 389 to be bought by defence PSUs
- NMDC share move
- -2.3% (second consecutive session)
- Nifty India Defence index
- +1.22%








