After lagging behind the broader market over the past three and six months, defence sector stocks have regained ground, reversing their performance from the past month. Concerns about slowing order inflows, execution hurdles, supply chain disruptions, and high valuations had weighed on the sector.
Dynamatic Technologies, a manufacturer of precision engineering products based out of Bangalore, has signed a contract with Boeing for the manufacture of cabinets that will house critical power and mission equipment for the P8I programme manufactured by Boeing.
Starting as a maker of hydraulic pumps, the Bengaluru-based company graduated to components for automakers like BMW and Audi, and then Airbus and Boeing
Aircraft maker Airbus on Thursday announced awarding a contract to Indian company Dynamatic Technologies for manufacturing all the doors for its next-generation narrow body A220 planes, giving a boost to the 'Make in India' initiative. While financial details were not disclosed, Civil Aviation Minister Jyotiraditya Scindia said it is one of the single-largest export contracts for an Indian aerospace manufacturing company and emphasised that the country is becoming a destination for aircraft component manufacturing activities.
News reports that GE Aerospace has delivered the first of 99 F404-IN20 engines ordered by Hindustan Aeronautics (HAL) for the Tejas Mk-1A has revived interest in the HAL stock.
The Army signed a $20-million deal with the Infosys-backed drone maker recently.
The move towards indigenisation of defence procurement creates new opportunities for India's military industrial sector. The Government of India (GoI) has so far released five lists of items for positive indigenisation - these should be manufactured in India, rather than imported. Each item on these lists represents an opportunity for some local firm.
Companies featuring in the Next 500 list are mostly mid-sized and termed as the 'small wonders' by the magazine.
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.
'For Indian firms supplying global majors, coronavirus is both a threat and an opportunity.'
There is a lot of optimism as regards the defence, railway and manufacturing sectors.
Ashok Leyland, ITD Cementation India have more than doubled.
Several hundred Indian firms that manufacture or assemble Rs 10,000 crore worth of aerospace components annually for manufacturers like Boeing, Airbus, Lockheed Martin and Bell Helicopters now face disruptions relating to covid-19.
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 presence of the private sector at a prestigious military training institution is an important acknowledgement of its growing capabilities in designing and manufacturing cutting edge aerospace and defence equipment, reports Ajai Shukla.
Theresa May's visit to a Bengaluru aerospace systems supplier is seen as the UK's strategy to pursue new defence deals.
It earlier took 19 months to build a Tejas, now it takes 11 months, says HAL chief.
Market ended lower for the third straight session led by IT stocks amid downgrade by Citigroup.
The CH-47F version of the Chinook that India is buying from the United States is a high-tech marvel.
The broader markets outperformed the benchmark indices- BSE Midcap and Smallcap indices gained 0.4% each
The Sensex was up 70 points and the Nifty was up 20 points led by SBI on robust Q2 earnings.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
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