President Mohamed Muizzu, known for his pro-China stance, has thanked India for enabling the resumption of medical evacuation services with civilian aviation personnel from India.
'Those betting against PSUs will likely be punished in this upswing.'
The pilot ejected safely and a court of inquiry has been ordered to ascertain the cause of the accident, the IAF said in a brief statement.
In May, MFs were the net sellers in several PSUs, as they deployed Rs 47,600 crore in equities during the month.
Children, women and men lined up the streets of Bengaluru as Captain M V Pranjal's cortege made its way on the final 23 km journey from his home to the crematorium.
HAL's sustained, long-term income will come from the design, development, manufacture, overhaul, and upgrade of a family of helicopters designed for deployment on India's 21,000-foot-high Himalayan frontier with Pakistan and China.
The Mark-1A will be more sophisticated and capable than the Tejas Mark-1.
Hindustan Aeronautics Limited on Wednesday handed over the first LCA Tejas twin-seater aircraft to the Indian Air Force.
Godrej Aerospace is a tier-1 manufacturer of precision and hi-tech aerospace components, assemblies, and systems, executing global projects that serve the defence, space, and aviation sectors.
HAL has integrated the ASRAAM (advanced short range air-to-air missile) for the Tejas Mark 1A. The Tejas Mark 1A will carry twin ASRAAM missiles with a range of 60 to 70 kilometres.
A total of nine procurement proposals were approved by the Defence Acquisition Council headed by Defence Minister Rajnath Singh, officials said.
The HAL and GE from the US would be producing these engines jointly in a facility in India.
India's defence sector presents an ordering opportunity worth $138 billion between fiscal years 2023-24 (FY24) and FY32, said a latest note by Nomura, which has initiated coverage on two defence-related players - Hindustan Aeronautics (HAL) and Bharat Electronics (BEL) - with a 'buy' rating. The research and broking house sees an upside potential of 28 per cent and 32 per cent, respectively in these two stocks from the current levels.
In the event of a war with China, AMCA deep strikes would target China's rail and road links with Tibet, isolating PLA divisions there.
Indian Air Force aircraft will continue operations unabated to sustain India's ground forces on the frontlines during winter.
India also went on an overdrive in expanding its military engagement with like-minded countries in its neighbourhood and beyond in the face of China's relentless attempts to become a regional hegemon and establish its primacy in South Asia.
Defence exports grew 33 per cent in the calendar year 2023 (CY23) to around Rs 21,083 crore while domestic defence orders serviced by listed companies were Rs 48,000 crore. The sector is poised for steady growth. Budgeted domestic capex is likely to hit Rs 3 trillion per annum, and exports could reach $6 billion by FY29.
India is procuring the long-endurance 'hunter-killer' drones to crank up the surveillance apparatus of the armed forces, especially along the Line of Actual Control with China.
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.
Shares of public sector enterprises have corrected by up to 22 per cent month-to-date until March 19, 2024. Analysts attribute this steep fall to the valuation exuberance seen after a sharp run in these counters last year and suggest investors remain selective regarding the stocks in this space. "The rally in public sector undertaking (PSU) stocks has been stretched and sharp, although it is somewhat justified by improvements seen in earnings, operations, balance sheets, and overall profitability.
Reliance Industries Ltd was the biggest wealth creator during the five-year period from 2018 to 2023 while Adani Enterprises Ltd was the top all-round wealth creator, according to a study by Motilal Oswal Financial Services. The study, based on stock market performance of companies, said for the fifth time in succession, Reliance emerged as the largest wealth creator, adding Rs 9,63,800 crore wealth over 2018-23. It was followed by Tata Consultancy Services (Rs 6,77,400 crore wealth addition), ICICI Bank (Rs 4,15,500 crore), Infosys (Rs 3,61,800 crore) and Bharti Airtel (Rs 2,80,800 crore).
The negotiations on cost and techno-commercial details relating to India's proposed procurement of 26 Rafale-M fighter jets and three Scorpene submarines from France are not yet concluded, sources said on Tuesday.
The legendary Russian-origin MiG-21 jets are set to participate for the last time at the annual Air Force Day parade on October 8, with the IAF rolling out the process to phase out the remaining three squadrons of the aircraft.
The biggest bounce is in the realty sector, where the industry index jumped 80%. There's been a turnaround also in automobiles and ancillaries (up 45%). The pharma and health care indices have a welcome return of roughly 35%.
The mega procurement proposal will shortly be placed before the Defence Acquisition Council, the defence ministry's top body on procurement, they said.
The team, popularly known as the ambassadors of the Indian Air Force, has the distinction of being among a handful of 9 aircraft formation aerobatic teams in the world.
China on Monday said cooperation between countries should not undermine regional peace and stability and target any third party, as it reacted to a host of defence and commercial pacts recently signed between India and the US including joint production of jet engines in India to power military aircraft and a deal on armed drones.
The contracts for the procurement of the platforms and weapons systems were signed in the presence of Defence Minister Rajnath Singh and defence secretary Giridhar Aramane, under whose guidance these deals fructified, an official readout said.
United States President Joe Biden and Prime Minister Narendra Modi are expected to make meaningful advancements on the GE jet engine deal and civil nuclear technology during their bilateral talks, National Security Advisor Jake Sullivan was cited in a Reuters report.
While the Army will be getting around 100 light utility helicopters, it is also looking at the option of taking choppers on lease to meet its requirement.
The Indian Navy, which was earlier looking towards the US for design expertise, technical know-how and operational practices, is now considering the advantages of working with the Royal Navy.
At present, the IAF has three MiG-21 squadrons with a total of around 50 aircraft, according to officials.
The Indian Navy has appointed the first woman commanding officer in a naval ship in sync with its philosophy of 'all roles-all ranks' for female personnel, Navy Chief Admiral R Hari Kumar said on Friday.
The plan was to equip the Su-30 aircraft with more powerful radars and the latest electronic warfare capabilities to make it more powerful as per the latest standards, the sources said.
The triennial exercise will take place for two hours and fifteen minutes during the day, dusk and night, he said.
Modi and Biden will have a one-on-one meeting in the Oval Office of the White House on Thursday before holding high-level talks.
The Defence Ministry on Tuesday approved the procurement of arms and military equipment worth Rs 7,965-crore, including 12 light utility helicopters from Hindustan Aeronautics Limited, according to an official statement.
Sources said the chopper, which was on a training flight, crashed as it began taking off from the helipad.
The Army is looking at procuring the LUHs and LCHs to replace its ageing fleets of Cheetah and Chetak helicopters.
India is also likely to sign a deal to buy MQ-9B Predator armed drones from US manufacturer General Atomics.
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