India's three major listed shipyards - Mazagon Dock Shipbuilders Limited (MDL), Garden Reach Shipbuilders & Engineers Limited (GRSEL), and Cochin Shipyard Limited (CSL) - are poised for substantial growth, driven by a robust order pipeline from the Indian Navy and diversification into commercial and export markets.
Indian shipyards Mazagon Dock Shipbuilders Limited (MDL), Garden Reach Shipbuilders & Engineers Limited (GRSEL), and Cochin Shipyard Limited (CSL) are set for substantial growth, driven by a significant pipeline of Indian Navy orders and diversification into commercial and export markets. The Navy's share in defence spending is approximately 21 per cent, ensuring robust order visibility for these domestic players.
Information and Broadcasting Minister Ambika Soni announced the transfer of the Vizag shipyard to the Defence Ministry for meeting 'national security requirements of building strategic vessels for the Indian Navy'.
The central government is likely to announce a restructuring-cum-revival package for Hindustan Shipyard Ltd (HSL), the largest public sector shipyard, at a cost of around Rs 830 crore (Rs 8.3 billion) in the coming Budget.
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Barring one, three are debt-free and sitting on large cash reserves.
TV visuals showed the giant crane falling on the ground with a loud thud.
'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 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 fast interceptor craft delivered can patrol the coastline at a scorching speed of 45 knots.
A total of 194 people were booked after raids on some 249 places all over the country.
Trump's sweeping tariffs and penalties on China-built ships have turned global shipping into the front line of economic war, observes Shyam G Menon.
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.
The list is of companies declared sick as on March 31, 2014.
The warships will be armed with BrahMos supersonic cruise missiles which can reach targets 295 km away.
Government auditor, the Comptroller and Auditor General has slammed the Navy, defence ministry and a state-run shipyard for the protracted delay in carrying out refit of submarine INS Sindhukirti because of which the force was unable to operate one of their lethal platforms since June 2004.
In gifting the submarine to Myanmar, India is competing with China for influence in the region.
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 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.
INS Sindhukirti's refit took so long that many defence experts believed the vessel would never return to operational service.
Warship building projects worth at least Rs 630 billion have ground to a standstill. The defence ministry has halted tendering in wait for a government decision on whether to allow, or to exclude, Anil Ambani's shipbuilding firm from those contracts.
The mega procurement proposal will shortly be placed before the Defence Acquisition Council, the defence ministry's top body on procurement, they said.
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 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.
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.
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.
Though the government says public and private shipyards compete on equal terms, public shipyards feast at the high table with the defence ministry, with only scraps being tossed to private shipbuilders.
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.
Parallel to this, the ruling Telugu Desam has been organising rallies across the state in solidarity with its MPs.
The vehicle can rescue as many as 14 people in one dive.
Navy said the landing demonstrated India's capability to design, develop, construct and operate indigenous aircraft carrier with indigenous fighter aircraft.
The defence ministry has lost sight of what it intended to achieve -- which was to nurture private defence firms that would compete on equal terms with the 9 defence PSUs and the 41 Ordnance Factory Board factories.
There were 35 defects that still remained to be resolved. Of these, 29 could not have been resolved during the monsoon since they required testing in absolutely calm seas. Nor is the Khanderi being commissioned with a full complement of its primary weapon, the torpedo.
New Delhi is vulnerable to US sanctions under a 2017 law called CAATSA.
The most important positive of India's stealth bull market is earnings growth across different sectors, explains Debashis Basu.
Air India sale will give a boost to India's privatisation drive, the Economic Survey said on Monday, as it suggested redefining the public sector role in business enterprises to encourage private participation in all sectors. The government earlier this month handed over ownership rights in national carrier Air India to Tata Group for Rs 18,000 crore. The amount includes the takeover of the debt burden of Rs 15,300 crore and another Rs 2,700 crore in cash.
Banning the import of platforms that are already being built in India serves little purpose.
'None of these three countries -- Turkey, Iran or Malaysia -- ever made a hostile move against India to support the Pakistan-based terrorist elements,' notes Ambassador M K Bhadrakumar.
Foreign institutional investors were net buyers in Indian equities worth Rs 277.92 crore on Tuesday
For about three more years, the Indian Navy will have to make do with its lone carrier -- the Russia-built INS Vikramaditya.
Highest-ever mobilisation in first half of any fiscal year; bankers expect the trend to continue, given strong pipeline
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