Shares of defense companies rallied by up to 8 per cent on the BSE in Friday's intra-day trade after the Ministry of Defence (MoD) signed multiple contracts worth over Rs 35,000 crore with state-owned and private companies. The MoD on March 30, 2023 signed contracts with Indian shipyards, Bharat Dynamics, Bharat Electronics, and BrahMos Aerospace Private for the procurement of various defence equipment worth over Rs 35,000 crore.