India-Turkey conflict: In a significant step to counter the strengthening alliance between Pakistan and Turkey, India is deepening defense cooperation with Ankara’s adversaries, as the Indian Navy recently conducted joint drills with the naval forces of Greece and Cyprus, according to media reports.
As per report by India.com, a news portal by Zee Media, the Indian Navy’s Talwar-class frigate, INS Trikand, was stationed at Salamis and carried out joint naval drills with three vessels of the Greek Navy in the Myrtoan Sea from September 17 to 18.
Subsequently, the Indian warship reached the port of Limassol on September 24 and conducted similar drills with vessels of the Cyprus National Guard Navy.
Since the launch of Operation Sindoor in May, India has been working to build a new strategic alignment with Greece, Cyprus, and Israel to counter the alliance of Pakistan, Turkey, and Azerbaijan, the report added. In response to Pakistan’s growing defense ties with Turkey, New Delhi has strengthened its own defense cooperation with Greece, Cyprus, and Armenia.
Therefore, Indian defence stocks are likely to remain in focus amid ongoing India-Turkey conflict. Market experts believe that defence stocks can be good option.
“India’s defence sector has once again come into sharp focus, particularly after heightened geopolitical tensions with Turkey. The government’s strategic reorientation underscores the urgent need for greater indigenisation of defence technology, while simultaneously forging stronger alliances with Turkey’s rivals. The recent joint naval exercises with Greece and Cyprus highlight New Delhi’s intent to counter Ankara’s growing involvement in South Asia and its deepening military cooperation with Islamabad and Azerbaijan. At the same time, India is enhancing defence ties with Israel, a long-standing strategic partner, thereby cementing a multi-pronged strategy aimed at building deterrence against hostile regional alliances,” said Sugandha Sachdeva- Founder-SS WealthStreet.
HAL, BEL to Bharat Dynamics – Which defence stock to buy?
Anshul Jain, Head of Research at Lakshmishree said that HAL, BEL, and Bharat Dynamics are showing signs of a 3–4 per cent bounce, but caution is key.
“None of them carry a strong bullish pattern to sustain a major rally—each time they recover 5–8% from recent lows, overhead supply pulls them back. The India–Turkey conflict news may spark short-term momentum in defence stocks, but traders should avoid confusing headlines with lasting fundamentals. BEL stands out—if it manages to sustain above ₹410, it could break into new highs. For now, the wise move is to track levels closely rather than chase the rally blindly,” Jain said.
On the other hand, Anuj Gupta, Director, Ya Wealth Research & Advisory, recommended investors to buy HAL stock.
“As per HAL, American firm GE Aerospace has handed over the fourth F404-IN20 fighter jet engine to them against the 2021 order. The engines will power India’s indigenous Light Combat Aircraft (LCA) Tejas Mk1A, which is being inducted into the Indian Air Force. Apart from this recently The restructuring initiative stems partly from the substantial backlog of orders, currently exceeding ₹2.7 lakh crore. The pending orders include fighter aircraft, utility rotorcraft, combat helicopters and propulsion systems, with additional contracts anticipated within the year. Now expecting further upside trend may seen in these stocks. HAL may test 5000 to 5200 levels, BEL may test 450 to 480 level and Bharat dynamics may test 1700 to 1900 levels till end of 2025,” Gupta said.
Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.
