The ministry of defence in September 2021 signed a Rs 21,935-crore contract with Airbus Defense and Space SA, Spain for supply of 56 aircraft.
Bajaj Housing Finance Ltd's impressive stock market debut has brought cheer to the 100-year-old Bajaj Group, but the conglomerate faces the prospect of Bajaj Finserv being removed from the benchmark Sensex index. According to market expectations, Trent, a Tata group-owned fashion retailer, is likely to replace Bajaj Finserv during the upcoming index rebalancing in December.
In calendar year 2024, the stock price of Trent has zoomed 160% As compared to the 18% rally in the BSE Sensex during the same period. It has outperformed the market in the past 10 consecutive years.
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.
A noteworthy aspect of 'Akashteer' is its emphasis on mobility and resilience, a source said.
To enhance transparency and verifiability in the poll process, the Conduct of Election Rules, 1961 were amended in 2013 to introduce the use of VVPAT machines. They were first used in the by-election to the Noksen assembly seat in Nagaland.
NDRF director general Atul Karwal told PTI that the teams are undertaking continuous familiarisation exercises and conducting simulation drills in the temple town to respond to any contingency.
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.
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.
By the time the enemy aircraft is 50 km away, the Akash-NG's computers have calculated the launch trajectory and impact point and launched the missile.
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.
The Supreme Court on Tuesday deprecated criticism of electronic voting machines (EVMs) and calls for reverting to ballot papers, saying the electoral process in India is a "humongous task" and attempts should not be made to "bring down the system".
The Election Commission had pegged the cost of procuring additional Electronic Voting Machines and paper-trail machines for holding synchronised Lok Sabha and assembly polls at nearly Rs 9,300 crore.
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.
State Bank of India (SBI) and Housing Development Finance Corporation (HDFC) will see maximum inflows from passive trackers on account of the quarterly rebalancing exercise of the National Stock Exchange Nifty Bank Index. IndusInd Bank and AU Small Finance Bank could see maximum outflows. The rejig of the Nifty CPSE Index will result in inflows in Oil and Natural Gas Corporation, NTPC, and Coal India and maximum outflows in Bharat Electronics, according to Brian Freitas, a New Zealand-based analyst with Periscope Analytics.
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.
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%.
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 defence ministry said the proposals approved by the DAC included one on procurement of 7.62x51 mm light machine gun and another on acquisition of weapons MH-60R helicopters of the Indian Navy.
Samariya, the first Dalit to have been appointed to the post, was working as information commissioner in the transparency panel Central Information Commission (CIC). A 1985-batch Indian Administrative Service (IAS) officer of Telangana cadre, Samariya retired after serving as the labour and employment secretary in the Government of India. He was sworn in as the information commissioner on November 7, 2020.
According to the budget document, Rs 1,891.78 crore has been allocated for purchase of EVMs by the poll panel.
Public-sector enterprise stocks have seen a good run thus far in 2023-24 (FY24), with the S&P BSE PSU Index surging by over 26 per cent during the period, compared to an 11 per cent increase in the benchmark S&P BSE Sensex.
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.
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.
'Gadar 2 was made with the purpose of entertaining people and not to perpetuate enmity between neighbouring countries.'
The Indian Army has initiated this proposal worth around Rs 1,000 cror Swathi WLRs and it is planned to be put for consideration by a high-level defence ministry meeting.
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 five-day event will include aerial displays by aircraft and helicopters along with a large exhibition and trade fair of aerospace and defence companies.
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 Centre has received Rs 6,651 crore as interim dividend from 12 public sector undertakings (PSUs) on Monday, edging towards its Rs 50,028 crore dividend target for the ongoing fiscal. Power Grid Corporation of India (PGCIL) has transferred Rs 2,506 crore as a dividend tranche to the government, while NMDC and Nuclear Power Corporation of India transferred interim dividend of Rs 1,605 crore and Rs 972 crore, respectively. The government has received dividend tranches of Rs 913 crore from GAIL, Rs 351 crore from Hindustan Aeronautics, Rs 149 crore from Bharat Electronics, among others, Department of Investment and Public Asset Management (DIPAM) secretary Tuhin Kanta Pandey tweeted.
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.
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.
Singh made the remarks while addressing a "CEOs' Roundtable" at the 14th edition of Aero India at the Yelahanka Air Force station complex on the outskirts of Bengaluru.
The EVMs, officials explained, are not designed to register this system of voting.
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.
It is the first project of its kind in which a military aircraft will be manufactured in India by a private company.
According to HAL, "this is the biggest ever order that HAL has placed on any Indian company boosting 'Atmanirbhar Bharat' campaign."
The most important positive of India's stealth bull market is earnings growth across different sectors, explains Debashis Basu.
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