The pact is significant as India has been sourcing its military jets from Russia and European consortia.
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.
Officials hint the visit could finally see a formal defence industrial road map being adopted by both nations.
Stocks of public sector undertakings (PSUs) have been on fire in the past year as investors cheered an improvement in key operating metrics and embraced counters of these state-owned enterprises, analysts suggest. The S&P BSE PSU Index has gained over 90 per cent in the past year, rising much higher than the S&P BSE Sensex, which has rose nearly 19 per cent during this period, according to ACE Equity data. The BSE PSU Index, reports show, has delivered a compound annual growth rate (CAGR) of 28 per cent (including dividends reinvestments) over five years and risen by almost 60 per cent in the past year.
A number of private companies have contributed to the development of ISRO's Chandrayaan-3 spacecraft which successfully landed near the south pole of the Moon on Wednesday evening.
'Just because of my background and poor academic qualifications, most people disbelieve what I have done.'
Replying to the no-confidence motion, Prime Minister Narendra Modi asserted on Thursday that the opposition's move is auspicious for his government as he expressed confidence that the Bharatiya Janata Party and its allies will break old records to retain power at the Centre in the 2024 Lok Sabha polls.
The Chief of Air Staff, addressing a press conference ahead of the Air Force Day on October 8, asserted that the IAF will continue to remain deployed along the frontier in the region till complete disengagement takes place in the remaining contested areas.
Here are list of some of the big ticket announcements.
"The experience was incredibly enriching, significantly bolstering my confidence in our country's indigenous capabilities, and leaving me with a renewed sense of pride and optimism about our national potential," he said.
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.
10 non-bank and non-finance stocks from the BSE500 Index universe that offer an optimal blend of low valuation, reasonably robust revenue and earnings growth in recent quarters, a strong balance sheet, and most importantly, positive cash flow from their operations.
Bengaluru-headquartered HAL plans to produce more than 1,000 helicopters in the range of 3-15 tonne with a total business of more than Rs 4 lakh crore over a period of 20 years at this facility in Gubbi taluk, officials said.
Prime Minister Modi's visit saw India and the US signing several major deals to boost cooperation in key areas such as defence, space and trade.
The two-day State Visit to Egypt at the invitation of President Abdel Fattah El-Sisi is also the first bilateral visit by an Indian prime minister since 1997.
State-run aerospace behemoth Hindustan Aeronautics Ltd (HAL) on Thursday said it has received a Request for Proposal (RFP) from the Indian Air Force for basic trainer HTT-40.
HAL helicopters will be equipped with an 'Obstacle Avoidance System' that warns pilots of any obstacles in their flight path.
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 procurement proposals were approved by the Defence Acquisition Council headed by Defence Minister Rajnath Singh, the ministry said.
'For god's sake, portray the armed forces in the correct manner,' asserts IAF veteran Air Commodore Nitin Sathe after watching Tejas.
Navy said the landing demonstrated India's capability to design, develop, construct and operate indigenous aircraft carrier with indigenous fighter aircraft.
Three people were killed after the MiG-21 fighter aircraft crashed into a house in Hanumangarh in Rajasthan shortly after it took off for a routine training sortie from the Air Force Station at Suratgarh.
The defence ministry billed the 615-acre factory as India's largest helicopter-manufacturing facility and it has been planned as a one-stop solution for the country's chopper requirements.
The advanced light helicopter, carrying Army personnel, was on regular sorties, he said. The incident took place at 10.43 am, and search operation is underway, the official said.
Another major announcement that came was an MoU signed between GE and Hindustan Aeronautics Limited to jointly produce fighter jet engines for the Indian Air Force.
Defence Minister Rajnath Singh on Monday flew a sortie in a Light Combat Helicopter (LCH) after a fleet of the highly agile choppers was inducted into the Indian Air Force.
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.
Before Data Patterns developed an indigenous check-out equipment, Brahmos Aerospace was paying a Russian supplier three times what it will now pay the Indian company.
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 advanced light helicopter (ALH), carrying five Army personnel including two pilots, was on regular sorties when it crashed at 10.43 am on Friday near Migging, around 25 km south of Tuting, he said.
In a post on X, Modi said, "Happy to have welcomed @POTUS @JoeBiden to 7, Lok Kalyan Marg. Our meeting was very productive."
There was no word on the much-anticipated procurement of 26 naval variants of Rafale fighter jets by India from France.
India on Thursday approved capital acquisition of a plethora of indigenously-developed military hardware including indigenous BrahMos missiles, marine diesel engine, artillery gun system, electronic warfare suits and utility helicopters at a cost of Rs 70,584 crore as part of a mega procurement plan.
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.
The naval version of Tejas light combat aircraft is in development stage. Officials said the successful "arrested landing" of the prototype of the naval version of Tejas on the deck of INS Vikramaditya is expected to speed up development of the jet for the Indian Navy.
During these seven decades, the IAF has lost 2,374 aircraft to crashes. They include 1,126 fighters and 1,248 non-combat aircraft. In addition, 229 trainers and 196 helicopters have crashed. These crashes have resulted in the deaths of 1,305 skilled pilots, note Ajai Shukla and Devesh Kapur.
It will be inducted into the IAF inventory at a ceremony in Jodhpur in presence of Defence Minister Rajnath Singh and chief of air staff Air Chief Marshal VR Chaudhari.
There is little appetite among combat aircraft engine makers to share the IP that results from a co-creation project. But Rolls-Royce is willing to walk the Aatmanirbhar talk.
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.
On Saturday, the aircraft made its first landing on the deck of INS Vikramaditya which was also a major milestone. Both the landing and take off by the aircraft put India among a select group of nations having the capability to design such a jet which can operate from an aircraft carrier.
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