The two ships are part of the series of eight anti-submarine warfare shallow water crafts which are under construction in CSL.
No ONGC employee was on the drillship when the accident occurred.
That includes the building of an anti-submarine warfare Corvette and an aircraft carrier for the navy.
South Korea's HD Hyundai, one of the world's largest ship manufacturers, is planning to build a shipyard in Thoothukudi. The project may see an investment of around $2 billion, said a government source.
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).
Equipped with torpedoes and anti-submarine rockets, the first of the Mahe-class anti-submarine warfare shallow water craft (ASW SWC) was delivered to the Navy on October 23.
Prime Minister Narendra Modi on Monday said the exceptional coordination among the three armed forces -- fear instilled by the Navy, extraordinary skills of the Air Force and bravery of the Army -- forced Pakistan to its knees during Operation Sindoor in no time.
'Our problem is not a budget deficit but a trust deficit. We need to trust our institutions and industries to innovate and lead. That is the way forward for India.'
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Barring one, three are debt-free and sitting on large cash reserves.
Basin Trial is testing of the ship machinery and equipment in floating conditions before the sea trials. With successful completion of Basin Trials, IAC has entered the final phase of the project, a Defence statement said.
'The universe of PSU stocks is huge and diverse.' 'Investors should bet on specific sectors and stocks from the basket as most of them may continue to consolidate after years of outperformance.'
The benchmark Nifty50 managed to reclaim its 200-day moving average (DMA) on Wednesday but about half of top 500 stocks continue to languish below this key technical indicator. The 200-DMA - nearly a year's average of closing prices - is analysed by traders to understand the market sentiment. A fall below these levels indicates a weak trend.
Indian and Russian officials have discussed Indian-Russian cargo transit along the Northern Sea route, joint projects in Arctic shipbuilding and possible training of Indian sailors for polar navigation.
The Prime Minister will commission INS Vikrant at Cochin Shipyard Limited in Kochi and during the event, he will also "unveil the new naval ensign (Nishaan), doing away with the colonial past," the PMO said in a statement.
The IAC would serve to bolster India's position in the Indian Ocean Region (IOR) and its quest for a blue water Navy
Mutual funds' largecap investment universe is expected to see seven changes in the upcoming stock reclassification exercise by the Association of Mutual Funds in India (Amfi). According to a report by IIFL Securities, Hero MotoCorp, Zydus Lifesciences, JSW Energy, NHPC, Bharat Heavy Electricals, Bosch and Samvardhana Motherson are expected to earn upgrades in the revised list of largecap, midcap and smallcap stocks set to be released in the first week of July. Amfi revises the list at the start of January and July every year based on the previous six-month performance of the stock.
'It concerns the sea and the security of the nation. What has happened is a big tragedy.'
Domestic institutional investors (DIIs) have infused a record Rs 4.6 trillion into Indian equities over the course of Samvat 2080, marking the highest net annual investment in any Samvat to date. This robust domestic inflow has effectively counterbalanced the comparatively subdued investments from foreign portfolio investors (FPIs), who contributed a net Rs 90,956 crore within the same timeframe. Against this backdrop, the Nifty 50 and BSE Sensex indices are on track to achieve their best performance in three Samvat years, despite recent market corrections.
September 2, 2022 was a historic day in the Indian Navy's history as Prime Minister Narendra Damodardas Modi commissioned India's first indigenous aircraft carrier INS Vikrant at the Cochin Shipyard in Kochi.
The government has received Rs 413 crore as dividend tranches from five CPSEs, including NLC and NALCO. "Government has received Rs 78 crore and Rs 165 crore respectively from Antariksh corp and NLC as dividend tranches," DIPAM secretary Tuhin Kanta Pandey tweeted.
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 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.
The resumption of two-carrier operations signals India's return to the elite clutch of navies that have the ship platforms and experience for operations that simultaneously involve more than one aircraft carrier.
Cochin Shipyard, BASF India, Ingersoll Rand, Eicher Motors, Federal Bank, and Timken India are some of the firms where voting could have got affected, sources said.
India's first indigenous aircraft carrier, INS Vikrant, headed out for the next set of its sea trials in Kochi on Sunday, January 9, 2022.
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.
It looks as if India's plan to have three carrier battle groups, centred around INS Viraat, INS Vikramaditya and an indigenously built aircraft carrier in Cochin shipyard, has suffered a huge setback, reports RS Chauhan
The navy's need for shallow water anti-submarine craft stems from the peculiar nature of the Arabian Sea bed, which is extremely shallow even tens of nautical miles from the coast.
Terror suspect Tahawur Hussain Rana has shot pictures of vital installations at Kochi when he toured the Kerala town, say National Investigating Agency officials.
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.
Defence Minister Arun Jaitley visited the aircraft carrier INS Viraat in Mumbai on Saturday.
The core group of secretaries on divestment scrutinised the financial bids for sale of newsprint maker NEPA and took up the issue of the divestment of equity in a slew of PSUs.
The Congress on Friday attacked Prime Minister Narendra Modi for "taking credit for the commissioning of" India's first indigenous aircraft carrier INS Vikrant and accused him of "hypocrisy" for not recognising the contributions made by earlier governments.
The 1,600-member crew and a slew of civilian workers were working like busy bees on Friday preparing the majestic warship IAC Vikrant for its commissioning on September 2.
Divestment of Shipping Corporation of India is likely to take place by October 2003 as per the schedule, Lok Sabha was informed on Wednesday.
India's second aircraft carrier, INS Viraat, drydocked at Cochin Shipyard Ltd for extensive maintenance work and re-fit, is expected to leave for Mumbai by this month end and hopes to join the fleet around mid-year.
The government on Monday announced increasing people's holding in public sector undertakings through the divestment programme, but said it would retain at least 51 per cent equity in these enterprises and would keep the banks and insurance companies under its control.
Domestic institutional investors pumped Rs 2.3 trillion into equities during H1 CY24. Of this, mutual funds contributed 80%.
The ship, commissioned on November 16, 2013, celebrated her third anniversary on Friday.
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