New Delhi, March 21 -- Defence stocks including Bharat Dynamics share price and BEML shares rallied up to 5% after the government approved the capital acquisition of a slew of military hardware worth more than Rs.54,000 crore. Bharat Dynamics shares jumped as much as 5.63% to Rs.1,317.00 apiece, while BEML stock price rallied 4.83% to Rs.2,877.70.

The Defence Acquisition Council (DAC) on Thursday accorded Acceptance of Necessity (AoNs) to eight capital acquisition proposals amounting to over Rs.54,000 crore, including airborne early-warning and control-aircraft systems, torpedoes and engines for T-90 tanks.

These include procurement of AoN for 1350 HP engine to upgrade the present 1000 HP engine for T-30 tanks to enhance battlefield mob...