While the Nifty 50 has gained just around 2% so far in FY27, the Nifty India Defence index has surged nearly 22%, significantly outperforming the benchmark. The rally has been broad-based, with most defence stocks delivering returns of over 25%. We take a look at the top 10 performers, which have rallied between 40% and 500%, including five multibagger stocks. (Data Source: ACE Equity) The stock has surged 513% in FY27 so far, climbing from Rs 148 to Rs 904.