Defence stocks fire up! Paras Defence, BEL, GRSE, other stocks surge up to 24% in 2 days. What’s powering the rally?

Defence stocks extended their rally for a second straight session, with Paras Defence surging 24% in two days and BEL, GRSE, HAL, and others posting strong gains. Investor sentiment was boosted by record FY26 defence production, rising private-sector participation, growing exports, and optimism around India’s self-reliance push.