The Defence Acquisition Council (DAC) has recently approved procurement proposals worth Rs 79,000 crore across three services and it has cleared AoN (Acceptance of Necessity) of Rs 3.3 trillion in financial year 2026 (FY26).
A spate of recent orders under the Indigenously Designed Developed and Manufactured (IDDM) category have led to investor focus on defence stocks. Actually, the defence index has been an outperformer for a long while with public sector undertakings (PSUs) like Hindustan Aeronautics (HAL), Bharat Electronics (BEL), Bharat Dynamics (BDL), Garden Reach Shipbuilders Engineers (GRSE), Cochin Shipyard and Goa Shipyard being beneficiaries of the policy.
The system performance was also validated through the data captured by a number of radars, telemetry and electro-optical tracking system deployed by ITR, Chandipur.
Stocks of defence-related companies have been firing on all cylinders on the bourses in calendar year 2023 (CY23). Shares of Hindustan Aeronautics (HAL), Bharat Electronics (BEL), Bharat Dynamics (BDL), Data Patterns, MTAR Tech, Cochin Shipyard and GRSE have rallied in the range of 21-96 per cent so far this year. By comparison, the BSE Sensex is up 8 per cent. The gains have been sustained on the back of robust export opportunities, a healthy project pipeline and the government's continued push for local manufacturing and indigenisation of defence equipment.
The government on Tuesday said it has received Rs 4,353 crore as dividend tranches from seven public sector enterprises, including Coal India and PFC. Government has respectively received about Rs 575 crore and Rs 2038 crore from Nuclear Power Corporation of India Ltd and Coal India Ltd as dividend tranches," Department of Investment and Public Asset Management (DIPAM) secretary Tuhin Kanta Pandey tweeted. Besides, about Rs 887 crore and Rs 653 crore have been received from Power Finance Corporation (PFC) and Hindustan Aeronautics Ltd as dividend tranches.
India's total value of defence production breached Rs 1 trillion-mark in the fiscal year 2022-23 (FY23), up 12 per cent year-on-year (YoY). At the bourses, this has been well reflected in related-stocks from the sector as they gained considerable ground during this period. Shares of Hindustan Aeronautics (HAL), Mazagon Dock Shipbuilders, MTAR Technologies, Bharat Electronics (BEL), and Bharat Dynamics (BDL) have skyrocketed up to 160 per cent in a year, as against a 14 per cent jump in the S&P BSE Sensex.
'Our sensors allow the missile to locate and identify the target even if it's on the move.'
Modi made the comments in his address after inaugurating the 14th edition of Aero India at the Yalahanka Air Force station complex on the outskirts of Bengaluru.
Defence public sector undertakings (PSUs) have been asked by the Centre to hold roadshows in Dubai and Abu Dhabi to share their financials and business plans to reel in investors. Hindustan Aeronautics (HAL), Bharat Dynamics (BDL), Bharat Electronics (BEL), Garden Reach Shipbuilders & Engineers (GRSE), and Mishra Dhatu Nigam (MIDHANI) have informed stock exchanges that they will conduct investor outreach programmes and participate in 'non-deal' roadshows and meetings with prospective investors from September 12-15. They will share their short- and medium-term growth plans, financial metrics, improvement in their stock performance/ market capitalisation - and make a pitch of sorts to prospective investors.
The five-day event will include aerial displays by aircraft and helicopters along with a large exhibition and trade fair of aerospace and defence companies.
Citing lack of evidence, CBI has closed its probe into alleged irregularities in the award of over Rs 575-crore contract in the production of Akash missile system components by top officials of Bharat Dynamics Limited to a private power company.
Syed Firdaus Ashraf/Rediff.com tracks Prime Minister Narendra Damodardas Modi's project-launching spree with just about three months to go for the assembly election in India's most populous state.
The MRSAM is amongst the most lethal surface-to-air missiles in service anywhere.
'Kindly advise about the following stocks. Can I hold or exit?'
Distinguished scientist and Director of Defence Research and Development Laboratory (DRDL), K Jayaraman said Bharat Dynamics Limited, a public sector undertaking under the Ministry of Defence, is currently producing 50-60 indigenously-developed Akash missile per month.
India's state-owned institutes have literally been forced to embrace technologies to go digital - however reluctantly. Till the museum reopen, the magic mantra has been "online", "cyber", "virtual" - a transition that has been less smooth for most art institutions than one might have hoped. The first of a four-part series, Kishore Singh turns the gaze to some of India's leading art institutions to see how they are keeping the show going.
In a bid to galvanise its air defence capabilities, India on Tuesday successfully test fired a new, long range surface-to-air missile jointly developed with Israel from a defence base off Odisha coast.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
The state-of-the-art advanced missile, a product of joint venture between India and Israel.
Air Chief Marshal Arup Raha on Wednesday expressed concerns over the delays in delivery schedules of 'Tejas' Light Combat Aircraft and intermediate jet trainer 'Sitara', both being developed indigenously, and their impact on operational capability.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
DRDO to develop an army version of the medium range surface-to-air missile.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
The successful test firing of medium range surface-to-air missiles is welcome news for the IAF.
Ajit Mishra, vice president, Research, Religare Broking, answers readers' queries on stocks they own or want to buy.
Modi's visit is aimed at commemorating 25 years of establishment of diplomatic ties between the two countries.
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