Paras Defence shares rallied over 15% during the week to hit a fresh 52-week high of Rs 1,585 apiece. Defence heavyweights Bharat Dynamics (BDL), Bharat Electronics (BEL), Hindustan Aeronautics (HAL), BEML and Mazagon Dock Shipbuilders gained up to 9% in a month. Multibagger MTAR Tech shares meanwhile have delivered 194% returns in 2026 so far.

Defence stocks came under the spotlight last year after the Indian armed forces conducted targeted military operations against terrorist outfits in Pakistan and Pakistan Occupied Kashmir (PoK) under the codename ‘Operation Sindoor’. The shares of the companies delivered explosive returns around May last year, before falling prey to sharp profit booking.

The stocks have again seen strong buying interest recently. The Nifty India Defence index hit a fresh 52-week high of nearly 9,978 early last week, surging nearly 39% from its record low level in less than five months. The boost came after the Defence Ministry launched the sixth indigenisation list containing 405 items that will only be sourced from Indian suppliers, with an estimated business potential of Rs 3,070 crore.

What lies ahead for defence stocks?

Defence remains one of SBI Securities’ preferred investment themes. The government’s focus on drones, counter-drone systems, hypersonic technologies and next-generation warfare capabilities highlights its intention to position India as a potential global defence manufacturing powerhouse, said Sunny Agrawal, Head of Fundamental Research at SBI Securities.

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The analyst added that Prime Minister Narendra Modi’s Independence Day speech showed an emphasis on transitioning India from a large defence market to a global leader in advanced defence technologies, which is expected to drive the next phase of growth in the sector.
Also read | Are DLF, Godrej Properties, Sobha, other realty stocks heading for a rally? Here is why analysts remain bullishSpeaking about the recent announcement by the Ministry of Defence, Sunny Agrawal said that the inclusion of over 400 items, covering weapon systems, missiles, sensors, radars, communication equipment, naval systems, avionics, sub-systems, components and spares, under the Positive Indigenisation Lists, restricting future imports of these products, marks a major boost to defence indigenisation.

“The move is expected to enhance domestic procurement, strengthen order visibility and create long-term growth opportunities for Indian defence manufacturers. Recent DAC approvals worth around Rs 52,000 crore further strengthen the order pipeline across air defence, missile systems, anti-drone technologies and electronic warfare platforms,” he further said.

Expensive defence valuations

While the outlook remains bullish, Santosh Yellapu, Research Analyst at Anand Rathi Institutional Equities, noted that most of the defence stocks are at the higher end of the valuation band.

“Any correction in the stock price should only be used as a better entry point giving more margin of safety,” according to the analyst.

Also read | Paras Defence expects exports to double as Middle East conflict boosts demand

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)

President Donald Trump threatened Monday to impose 50% tariffs on Canadian-made vehicles, auto parts and steel beginning in January 2027, accusing Canada of “ripping off” the United States for years.

Trump issued the warning in a Truth Social post, writing, “WE DON’T NEED CANADA, THEY NEED US!”

“Canada has been ripping off the United States of America for years. Their ridiculously high tariffs on our Farmers and farm products has made life impossible for these great American Patriots, and has long created a 60 Billion Dollar Deficit between our two Countries. Not sustainable, and NOT ANYMORE!” the president’s post read.

CANADA’S CARNEY SAYS US MADE LAST-MINUTE ‘POWER PLAY’ AS TRADE TALKS COLLAPSE; RETALIATORY TARIFFS IN PLACE

President Donald Trump speaks during a campaign rally for U.S. Senator Darline Graham, R-S.C., at the Myrtle Beach Convention Center in Myrtle Beach, South Carolina, on Aug. 21, 2026.  (REUTERS/Evan Vucci / Reuters Photos)

Trump said the 50% rate would apply to “all” Canadian cars and trucks, both “large and small,” as well as automotive parts and steel, beginning Jan. 1, 2027.

“Build in the U.S. and there are ZERO TARIFFS,” Trump wrote. “Canada will be treated like a State no longer!”

“On Trade, and in other ways, also, they are among the worst Nations in the World to deal with. They feel entitled, and yet, WE DON’T NEED CANADA, THEY NEED US!” Trump continued. “They do 95% of their business with the U.S., with us, the exact opposite!”

Trump’s new tariff threat follows the collapse of trade talks between Washington and Ottawa after Canadian Prime Minister Mark Carney suspended negotiations with the U.S. and ordered Canada’s trade team back to Ottawa.

Canadian Prime Minister Mark Carney speaks during a news conference on U.S.-Canada trade negotiations. ( Dave Chan / AFP via Getty Images / Getty Images)

Carney’s move came as a separate round of 50% U.S. tariffs on roughly $20 billion worth of Canadian imports took effect early Saturday.

US-CANADA TRADE NEGOTIATIONS SUSPENDED, CARNEY VOWS DOLLAR-FOR-DOLLAR RETALIATION AGAINST TRUMP’S 50% TARIFFS

The prime minister on Saturday accused Washington of making a last-minute “power play,” saying the U.S. sought to restrict Canada’s ability to negotiate trade agreements with other countries.

President Donald Trump greets Canada’s Prime Minister Mark Carney during a world leaders’ summit on ending the Gaza war on Oct. 13, 2025, in Sharm El-Sheikh, Egypt.  (Evan Vucci – Pool / Getty Images / Getty Images)

According to Carney, trade talks broke down after the U.S. introduced new demands involving Canada’s other trading relationships, its auto sector and protections for Canadian culture and the French language.

“In short, they asked too much, and they offered too little,” Carney said.

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Carney previously said Ottawa plans to match the U.S. tariffs “dollar for dollar,” with the levies targeting multiple sectors, including steel, dairy, appliances, agricultural equipment, pulp and paper and electronics. The duties are set to take effect the Tuesday after Labor Day, Sept. 8.

Fox News Digital’s Michael Sinkewicz and Fox Business’ Brittany Miller contributed to this report.

Los Angeles Lakers superstar Luka Doncic drew widespread attention over the weekend after photos and video from an unofficial team minicamp in his native Slovenia showed him sporting a noticeably slimmer physique, fueling renewed discussion about his conditioning ahead of a season in which he will serve as the franchise’s undisputed leader for the first time.

Doncic organized and hosted the multi-day gathering in Slovenia, bringing nearly the entire Lakers roster to his home country for a trip centered on workouts, team meals and sightseeing, according to Heavy.com. The group spent time training and bonding in Ljubljana and nearby areas, with several videos and photos from the camp circulating widely on social media over the weekend. The Lakers offered their clearest official look at Doncic’s new appearance Sunday, posting a video showing the guard with longer hair, a white headband similar to one worn by teammate Austin Reaves, and a visibly leaner frame.

Fan reaction to the images was immediate and largely enthusiastic, though tempered by a degree of skepticism rooted in past experience. According to Yardbarker, supporters have expressed excitement that Doncic’s leaner conditioning could translate into improved movement and endurance on the court heading into the new season. At the same time, several fans cautioned against premature celebration, pointing to previous offseasons in which Doncic arrived looking trim before his conditioning appeared to regress over the course of a long NBA campaign. One social media reply captured that lingering skepticism directly: “I won’t be fooled like last year,” while another added, “Par for the course! Just wait until February!”

Unlike some of those earlier offseason transformations, however, Doncic’s current physique reflects a sustained, well-documented overhaul that began well over a year ago rather than a temporary summer adjustment. According to Heavy.com, the transformation started immediately following the Lakers’ first-round playoff elimination in the spring of 2025, when Doncic instructed his performance team to begin training without the customary offseason break. He initially spent a full month focused specifically on recovery, strength and conditioning work before expanding his regimen to two 90-minute workout sessions per day, incorporating weightlifting, resistance-band exercises, hurdles, sprints, agility drills and shooting work.

Doncic also overhauled his diet as part of the broader program, adopting a gluten-free, low-sugar eating plan that includes at least 250 grams of protein daily, according to Heavy.com. He follows an intermittent-fasting schedule that generally keeps him from eating between 8:30 p.m. and noon, with his first daily workout typically occurring near the end of that fasting window. Doncic detailed the specifics of that regimen in a July 2025 cover story for Men’s Health, describing the visible physical results of the program at the time. “Just visually, I would say my whole body looks better,” Doncic told the magazine.

According to Today.com’s coverage of that Men’s Health feature, Doncic had been listed at 6-foot-6 and 230 pounds during the prior season before undertaking the transformation, and appeared visibly leaner following the changes to his training and nutrition. His diet regimen has relied heavily on sugar-free shakes made with low-carb whey protein, along with eggs, chicken and nuts for healthy fats, with fruit serving as his primary dessert option to provide essential vitamins. One of Doncic’s trainers told Men’s Health that a central goal of the overhauled program was to help reduce inflammation throughout his body.

According to SI.com, citing Slovenian media reports, Doncic lost approximately 31 pounds compared with the prior year as part of that initial conditioning push in the summer of 2025. That reported weight loss came after Doncic had faced public criticism over his conditioning in previous seasons, criticism that intensified following a widely discussed trade that sent him from the Dallas Mavericks to the Lakers.

The physical changes appeared to translate directly into on-court performance improvements. According to Yahoo Sports, Doncic produced an MVP-caliber 2025-26 season following his initial conditioning overhaul, averaging 33.5 points, 7.7 rebounds and 8.3 assists per game, statistical output that reinforced the connection between his improved physical conditioning and his continued dominance on the court despite the significant physical transformation.

This year’s Slovenia trip carries added significance beyond simply continuing that conditioning trend, given the shifting leadership dynamics within the Lakers organization. According to Heavy.com, the gathering represented Doncic’s first real leadership gesture since LeBron James departed the franchise earlier this summer to sign with the Philadelphia 76ers, formally establishing Doncic as the Lakers’ unquestioned centerpiece and leader heading into the new season. Yahoo Sports similarly described the camp as an arguably necessary bonding opportunity given how many new players the Lakers acquired over the offseason, including newcomers Walker Kessler, Quentin Grimes, Collin Sexton and Matisse Thybulle, who joined Doncic and Reaves as part of a reshaped roster following James’ exit.

Doncic has continued to sign long-term commitments to the franchise alongside his physical transformation, having agreed to a three-year, $165 million contract extension with the Lakers on Aug. 2, 2025, according to SI.com, a deal that positions him as the face of the franchise for at least the next three seasons and likely well beyond that, according to many observers within the league.

With the Lakers set to open their preseason schedule Oct. 5 and begin the regular season shortly afterward, Doncic’s continued conditioning and leadership presence heading into training camp are likely to remain closely watched storylines, particularly given the significant roster turnover the team has undergone following James’ departure and the increased responsibility now resting on Doncic as the franchise’s unquestioned leading figure. Whether his current physique proves to be a durable, season-long transformation or gives way to the kind of in-season regression some skeptical fans have referenced from previous years remains a question that will only be answered once the Lakers’ 2026-27 campaign gets fully underway.

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PERTH, Australia — Shares of Paladin Energy Ltd jumped more than 10% on Monday as investors responded to the company’s re-reporting of Mineral Resource and Ore Reserve estimates for its Patterson Lake South project under the JORC Code, alongside continued strong operational momentum at its Langer Heinrich Mine in Namibia.

Paladin Energy (ASX: PDN) closed at A$11.71, up A$1.13 or 10.68%, after trading as high as A$11.98 during the session. The move came days after the company released updated estimates for the high-grade Patterson Lake South (PLS) uranium project in Saskatchewan’s Athabasca Basin, presented in accordance with the JORC Code (2012) to complement its existing disclosures under the Canadian NI 43-101 standard.

The company stated there was no material change to the previously disclosed mineral resource and mineral/ore reserve estimates as a result of the re-reporting. Non-material updates were incorporated for certain zones, while the overall reserve figures remained unchanged. The dual-standard reporting provides greater accessibility for Australian and international investors following the JORC framework.

The stock’s sharp rise occurred against a broader backdrop of strength in uranium-related equities, with several peers also advancing on the day. Paladin’s market capitalisation moved above A$5 billion on the gain.

Paladin operates as a uranium producer with a 75% interest in the Langer Heinrich Mine in Namibia and is advancing the Tier-1 PLS project in Canada. The company also holds exploration assets in Australia and additional interests in Canada.

In its June 2026 quarterly report, released in late July, Paladin detailed the successful completion of the operational ramp-up at Langer Heinrich. Full-year FY2026 production reached 4.82 million pounds of U₃O₈, meeting or exceeding the upper end of revised guidance of 4.5 to 4.8 million pounds. Sales totalled 4.35 million pounds, also above guidance of 3.8 to 4.2 million pounds. The average realised price for the year was approximately US$70 per pound, while the cost of production came in at US$43.30 per pound, better than the guided range of US$44 to US$48 per pound.

In the June quarter alone, Langer Heinrich produced 1.23 million pounds and sold 1.35 million pounds at an average realised price of US$70.6 per pound. Plant recovery rates remained strong, and mining volumes increased as the operation transitioned to higher reliance on primary mined ore.

Looking ahead, Paladin issued FY2027 guidance for Langer Heinrich of 5.1 to 5.6 million pounds of U₃O₈ production and 4.8 to 5.3 million pounds of sales, with costs expected in the US$44 to US$48 per pound range. Capital expenditure is forecast at US$29 million to US$35 million. Production is anticipated to be weighted toward the second half of the year following planned maintenance in the first half.

The company has highlighted that the ramp-up phase is complete, positioning the Namibian operation for sustained output. All ore processed in FY2027 is expected to come from the mine, with ongoing optimisation of mining and processing activities.

At the same time, progress continues at Patterson Lake South. The Canadian Nuclear Safety Commission determined that the construction licence application had achieved sufficiency status, allowing it to proceed through the regulatory review process. Paladin has signed a binding term sheet with the Birch Narrows Dene Nation regarding a Mutual Benefits Agreement and is working toward key development milestones. An administrative protocol with the CNSC targets completion of hearings for the construction licence application by the end of calendar year 2027.

In June, the company reported a new high-grade uranium discovery, known as the Atlas discovery, from its 2026 winter drilling program at PLS. The project is viewed as a high-grade, relatively shallow deposit that could support future growth as global demand for uranium increases in support of nuclear energy expansion.

Paladin has strengthened its balance sheet through earlier equity raisings totalling approximately A$400 million to support both the Langer Heinrich ramp-up and advancement of PLS. Analyst coverage has been mixed but includes several upgrades in recent months, with some brokers citing the scale and development potential of the Canadian asset as the company transitions toward a multi-asset producer.

Uranium market conditions have remained supportive, with elevated prices reflecting supply constraints and growing interest in nuclear power as a low-carbon baseload energy source. Paladin’s sales contracts provide exposure to higher prices while delivering into long-term customer agreements.

The company’s dual listing on the ASX and TSX, along with OTCQX trading in the United States, has broadened its investor base. The JORC re-reporting of the PLS estimates is intended to align disclosure practices more closely with Australian market conventions without altering the underlying resource picture previously reported under Canadian standards.

Trading volume was elevated on the day of the share price move, reflecting heightened interest following the resource announcement and the recent operational updates. The 52-week range for the stock has seen significant movement, with the shares having traded as high as approximately A$15 earlier in the year before consolidating.

Paladin’s management has emphasised disciplined cost control, safety performance and steady delivery against guidance as the Langer Heinrich operation matures. Total recordable injury frequency rates have been tracked as part of ongoing operational reporting. Capital spending remains focused on sustaining and optimising the Namibian mine while advancing permitting and engineering work in Canada.

As the uranium sector continues to attract attention from institutional and retail investors, Paladin’s combination of near-term production growth from Langer Heinrich and longer-term development optionality at PLS positions it as a key independent producer. The latest share price reaction underscores market focus on both the resource transparency provided by the JORC update and the company’s ability to execute on production targets.

Financial results for the full year ended June 30, 2026, are scheduled for release in late August, with a conference call planned to discuss the outcomes and outlook. Investors will be watching for further detail on cash generation, contract book performance and the pathway toward a final investment decision at Patterson Lake South.

The stock’s advance on Monday reflected a convergence of operational delivery, resource disclosure updates and sector sentiment. With Langer Heinrich now operating on a stable footing and PLS advancing through key regulatory steps, Paladin continues to build its profile as a multi-jurisdictional uranium company supplying nuclear utilities worldwide.

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Operator

Thank you for standing by, and welcome to the Perenti FY ’26 Results Presentation. [Operator Instructions] Finally, I would like to advise all participants that this call is being recorded. I’d now like to welcome Vanessa Torres, Managing Director and Chief Executive Officer, to begin the presentation. Vanessa, over to you.

Vanessa Torres
CEO, MD & Director

Good morning, everyone, and thank you for joining the Perenti FY ’26 Results Call. My name is Vanessa Torres, and presenting with me today is Mike Ellis, our CFO. Today, we will outline our full year performance, the outlook for our business and how we plan to maximize returns for our shareholders. As this is my first reporting period as CEO for Perenti, I am very pleased to be announcing another year that Perenti has delivered to our guidance, marking our fifth consecutive year.

For those who are new to the Perenti story, we illustrate on Slide 3, our diversified portfolio of businesses spanning across the mining life cycle. Our businesses offer a broad suite of services, spreading across 12 different countries. We have world-leading expertise in underground mining and drilling. 66% of our revenue in FY ’26 was generated from underground operations, and this was mostly from gold and copper projects. We operate 20 mines around the world. And collectively, we employ around 10,000 people to service more than 160 different clients. We aim to be the safest and most productive in industry, which unlocks enduring value and certainty for our people, our clients, our communities and ultimately deliver sustainable returns for our shareholders.