India's defence stocks rise as acquisition council clears proposals worth $22 billion

** India's defence stocks index .NIFTYINDDEFENCE up 2.4%, set for best day in seven weeks

** Bharat Electronics BAJE.NS rises 2.3%, fifth-biggest pct gainer on benchmark Nifty 50 index .NSEI, which is flat

** Data Patterns DATP.NS, BEML BEML.NS and Paras Defence PRAF.NS jump 8%, 7.8% and 5.1%, respectively

** India's defence acquisition council clears capital acquisition proposals worth 2.12 trillion rupees ($22.27 billion)

** "The pace of procurement clearances remains elevated and the approvals reinforce the depth of medium-term defence procurement pipeline," Citi Research says

** Says BAJE, Hindustan Aeronautics HIAE.NS and Larsen & Toubro LART.NS can participate in opportunities that can translate into orders over next 2-3 years

** ICICI Securities sees several other beneficiaries, including DATP, PRAF, Zen Technologies ZETE.NS, Astra Microwave ASTM.NS

** Defence stocks index up 14.7% YTD, while Nifty 50 is down 12.7%

($1 = 95.1850 Indian rupees)