New Delhi, March 19 -- Indian defence stocks rallied sharply on March 19, driven by strong global cues following Germany's move to boost military spending. ICICI Securities remains bullish on the sector, citing robust fundamentals and recent policy tailwinds.

Shares of Garden Reach Shipbuilders surged 20 percent on Wednesday, March 19, hitting an intraday high of Rs.1,641.15. The stock's sharp rise also lifted other defence players, with Mazagon Dock climbing 10.5 percent, Bharat Dynamics rising 6.36 percent, Cochin Shipyard gaining 8.7 percent, Paras Defence adding 5.4 percent, and HAL advancing 4.5 percent.

The rally came after German lawmakers passed a major spending package on Tuesday, unlocking billions of euros in debt financing f...