Goverment of India has stated that defence requirements in India will be made by India and reduce any imports. This has seen a direct effect in companies working for the defence sector like NSE:HAL, NSE:BEML, NSE:BEL, NSE:BDL& so on.
BHEL has also seen it's fair share of buying in the last week with the news annoucement pushing all defence PSUs higher.
It touched a Intrday high of INR 39.15 on 14th August 2020. It's expected to make a recovery to INR 44.00