In retaliation to the deadly Pahalgam attack that claimed lives of 26 civilians, the Indian Army launched precision strikes on terror hideouts in Pakistan and Pakistan occupied Kashmir (PoK).

The operation, officially dubbed as Operation Sindoor, marked a significant shift in India’s tactical capabilities and showcased a new class of weaponry. The country reportedly used indigenously-built “suicide drones” in carrying out the mission.

The drones used in the strikes are officially known as Low-Cost Miniature Swarm Drones or Loitering Munition Systems (LMS). Developed jointly by Bengaluru-based Alpha Design and Israel’s Elbit Systems, the ‘SkyStriker’ is the variant believed to have been deployed. Unlike traditional UAVs, loitering munitions can hover over a target area before locking onto a target and striking with high precision.

Each SkyStriker drone can carry a 5 kg or 10 kg warhead and has an operational range of approximately 100 kilometers. It uses electric propulsion, making it nearly silent and ideal for low-altitude, covert operations. Designed to locate, track, and destroy operator-designated targets, the SkyStriker combines the flight characteristics of a drone with the destructive force of a missile.

According to defence sources cited by The Times of India, the Army had placed an emergency procurement order for around 100 of these drones in 2021. They are produced in an industrial facility in western Bengaluru and are considered cost-effective tools for precise strikes, especially against non-conventional threats.

The SkyStriker provides troops, including special forces, with the ability to conduct real-time reconnaissance and direct strikes without exposing personnel to risk.

However, India has not officially confirmed the deployment of these drones.

Mumbai, May 7: In the midst of rising market volatility sparked by geopolitical tensions, experts on Wednesday urged investors to remain calm and take a calculated approach, especially while buying defence stocks.

Indian defence stocks traded flat amid heightened tensions with Pakistan after India successfully carried out ‘Operation Sindoor’.

Analysts suggested investors to adopt a wait-and-watch approach due to geopolitical risks.

“This is a time for careful planning rather than rushed decisions or panic buying,” said Dr Vikas Gupta, CEO and Chief Investment Strategist at OmniScience Capital.

Long-term investment opportunities continue to exist, especially in the defence sector.

He advised investors to avoid falling into fear or FOMO (fear of missing out) and, instead, maintain a watchlist of sectors and stocks that show strong long-term promise.

The key, according to Gupta, is to allocate capital gradually and rationally, rather than reacting emotionally to market noise.

However, Gupta emphasised that the defence sector stands out as a key area of focus.

“Defence companies, already holding strong order books, are likely to see further growth in orders due to Operation Sindoor,” he added.

“The attention now shifts to the pace of project execution, which could become more aggressive,” he stated.

According to market experts, defence stocks have already witnessed a significant run-up in recent sessions, particularly following the Pahalgam terror attack.

Gupta suggests that the results of this push may start reflecting in financials over the next few quarters to a couple of years, potentially driving revenue and profit growth.

Beyond conventional arms and ammunition, other critical defence-related areas are poised for growth, including cyber security, strategic minerals, rare earths, oil and gas, military EPC and defence logistics.

Meanwhile, shares of Bharat Dynamics, Hindustan Aeronautics, Bharat Electronics, and BEML remained largely unchanged.

Shipbuilding stocks such as Mazagon Dock Shipbuilders, Garden Reach Shipbuilders, and Cochin Shipyard also reflected a similar flat trend.

Mumbai, May 5: The Indian equity markets opened the week with strong gains on Monday, supported by a rally in Adani Group stocks and strength in select auto and banking shares.

Sensex started the day around 160 points higher at 80,662 and climbed to an intra-day high of 81,049.

Although it gave up some of the gains later in the session, the index still ended 295 points up at 80,797.

The Nifty touched a high of 24,526 during the day and eventually closed with a gain of 114 points, or 0.5 per cent, at 24,461.

“Markets started the week on a firm footing, lifted by steady foreign inflows and optimism around an impending India-US trade deal,” said Vikram Kasat of PL Capital.

Strength in Asian currencies and easing global trade tensions added to the positive sentiment, even as activity remained muted in some global markets due to holidays, Kasat added.

The Adani Group was at the centre of investor attention, with shares jumping up to 11 per cent following reports of the company’s top executives holding discussions with officials from the US President Donald Trump administration.

Adani Ports was the top performer among Sensex stocks, soaring 6.3 per cent. Other gainers included Mahindra and Mahindra, ITC, Power Grid Corporation and Tata Motors.

On the other hand, Kotak Mahindra Bank fell 4.5 per cent, making it the biggest loser on the Sensex. SBI and Axis Bank also ended the day in the red.

The broader market outperformed the benchmark indices. The BSE MidCap index jumped 1.5 per cent, while the SmallCap index advanced by 1.2 per cent.

Among sectors, oil and gas stocks saw notable buying, with the BSE Oil and Gas index rising 2 per cent, driven by strength in oil marketing companies.

Consumer durables, energy, and FMCG sectors also posted gains of over 1 per cent each.

However, the BSE Bankex ended lower, down nearly 1 per cent due to pressure on select banking names.

“The upbeat start to the week reflects investor optimism, driven by corporate developments and select sectoral momentum,” market experts noted.

The rupee traded positive, gaining 13 paise to settle at 84.32 as sustained FII inflows continue to support the domestic currency.

“Going ahead, the rupee is expected to trade in a range of 84.00 to 84.75, with continued global risk sentiment and commodity movements guiding intraday volatility,” Jateen Trivedi of LKP Securities noted.

Gold prices surged sharply as expectations of an interest rate cut by the US Federal Reserve this week fuelled strong buying.