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 Election Commission has placed orders estimated at more than Rs 300 crore with Electronics Corporation of India Ltd and Bharat Electronics Ltd to deliver Electronic Voting Machines for the Lok Sabha elections.
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.
With five points in his kitty from eight games, D Gukesh jointly leads the standings with Anish Giri of Holland.
With seven rounds still to come in the first super tournament of the year, Anish Guru maintained his sole lead on 4.5 points out of a possible six and he is now trailed by Iranian turned Frenchman Firouza Alireza who is on 4 points.
Hindustan Aeronautics (HAL) is one of the largest beneficiaries of the defence indigenisation programme. The aerospace Public Sector Undertaking (PSU) has just received a new tender for 97 Light Combat Aircraft (LCA) Tejas Mk1A, and it is already servicing an earlier order for 83 LCA aircraft. The new order is worth around Rs 65,000 crore with a 65 per cent indigenisation component, whereas the earlier order (February 21) was worth Rs 45,700 crore with 55 per cent indigenisation.
Around 1.5 crore polling and security personnel, about 55 lakh EVMs and four lakh vehicles will be deployed for the polls, according to the poll authority.
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.
Prime Minister Narendra Modi will lay the foundation stone of an international cricket stadium in his parliamentary constituency Varanasi.
Recently, the government relaxed foreign direct investment (FDI) norms for the space sector by allowing 100 per cent FDI in manufacture of components, systems or sub-systems for satellites, ground segments, and user segments. It also permitted 74 per cent FDI in satellite manufacturing and operation as well as satellite data products and 49 per cent in development of launch vehicles and spaceports. Following this, stocks of related companies saw an uptick on the bourses.
According to HAL, "this is the biggest ever order that HAL has placed on any Indian company boosting 'Atmanirbhar Bharat' campaign."
After the draw with Iranian turned French player Firouza, Gukesh has seven points for his sole second spot.
Glimpses of what the historic Chandrayaan Mission discovered on the dark side of the Moon.
Grandmaster D Gukesh endured a heartbreak in the final tie-breaker against Wei Yi of China and had to be content with a joint second place finish at the Tata Steel Masters chess tournament in Wijk Aan Zee, The Netherlands.
India's star drag-flicker Harmanpreet Singh was on Tuesday named among the five nominees for the men's Player of the Year honour.
"Mock polls" are part of the first level check (FLC) process.
Operating margins for some companies dipped in Q3, 2021-22 but this sector could be nearing the bottom of the cycle in terms of profits.
The last year has seen public sector undertakings (PSUs) outperforming the Nifty50, albeit by a small degree. But PSU valuations are still, on average, less than half of private sector peers at price-to-equity or PE 8.7x for the Nifty PSU Index versus 20.9x for the Nifty50. There are several reasons for lower valuation.
In order to have protection against drone attacks, all the three defence forces including the Army, Navy and Air Force have signed contracts for acquiring DRDO-developed anti-drone systems.
Modi, attired in traditional dhoti and gamcha (stole), entered the sanctum sanctorum of the Lord Mahakal temple at around 6 pm.
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.
Stunning model looks at the 2022 Cannes film festival.
Prime Minister Narendra Modi on Tuesday dedicated to the nation the Mahakal Lok corridor at Ujjain in Madhya Pradesh.
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.
The government on Friday conferred Navratna status on public sector giants Bharat Electronics Ltd, Hindustan Aeronautics Ltd and Power Finance Corporation Ltd.
What some of our leaders were up to on Tuesday, November 15.
Y Gopala Rao who retired as chairman and managing director, Bharat Electronics, a defence PSU based out of Bangalore, had identified cutting costs as a key objective for the future.
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.
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 celebs who upped the glam quotient at the French Riviera.
In line with the government's vision of 'Aatmanirbhar Bharat', the ministry of defence on Thursday signed contracts with Indian shipyards for the acquisition of 11 next generation offshore patrol vessels and six next generation missile vessels at a cost of nearly Rs 19,600 crore, officials said.
The Indian Army has deployed a significant number of easily transportable M-777 ultra-light howitzers in mountainous regions along the Line of Actual Control (LAC) in Arunachal Pradesh, military officials said on Thursday.
Days after Pakistan Army chief General Ashfaq Parvez Kayani called for an end to drone attacks in his country, unmanned American spy planes today unleashed 10 missiles at a compound in the volatile North Waziristan, killing at least 25 people, including civilians.
In the Open section, the India 'B' team, which has been in sparkling form, had to settle for a 2-2 draw against Uzbekistan as the in-form D Gukesh lost to Nodirbek Abdusattorov, the reigning world rapid chess champion.
The EVMs, officials explained, are not designed to register this system of voting.
Eyes Rs 10,000 cr revenue mark despite focusing less on manufacturing, more on system integration
The EVMs are based on a technology where they work as aggregator of votes in direct elections such as the Lok Sabha and state assemblies.
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