State-run Israel Aircraft Industries on Wednesday signed an international marketing agreement for a light helicopter made by India's Hindustan Aeronautics Ltd.
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.
HAL defied form and name to upset former champions Dempo 4-2 to move out of the I-League's relegation zone and stay afloat for the next season.
Identifying Hindustan Aeronautics Limited as its "'main partner' in the multirole combat aircraft deal, France's Dassault Aviation today said it will set up a joint venture company with Reliance Industries to work on the $10 billion Rafale project.
The plane went up in flames as it crashed with an explosion and thick smoke billowed from the spot, leaving passersby and residents living around the airport in a shock.
The agreement with HAL is irrespective of the decision made by Indian Navy whether to go for Hawkeye or not.
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.
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.
The defence ministry billed the 615-acre factory as India's largest helicopter-manufacturing facility and it has been planned as a one-stop solution for the country's chopper requirements.
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.
'Just because of my background and poor academic qualifications, most people disbelieve what I have done.'
Scenes from day two of the Opposition conclave in Bengaluru on Tuesday, July 18, 2023.
Scoop seems like they conclude he is but Vaihayasi Pande Daniel recommends that you watch the film to find out for yourselves.
In the wake of the accident off the Mumbai coast two days ago, the defence forces have halted the operations of the Advanced Light Helicopter (ALH) Dhruv till the time investigators find the reason for the incident and precautionary checks are carried out.
The Hindustan Aeronautics Ltd is pushing for exports of its flagship helicopter Dhruv to Chile with an aim to make an entry into the South American market.
Under a memorandum of understanding signed in New Delhi by Jim Albaugh, President of Boeing Integrated Defence System and HAL Chairman Ashok K Baweja, the Indian defence PSU, will manufacture subsystems for Boeing's wide range of fighter planes like F-15, F-18 Super Hornetts and Apace Helicpoters.
The defence ministry said 98 per cent of the total procurement worth Rs 2.23 lakh crore will be sourced from the domestic industries.
Bengaluru-headquartered HAL plans to produce more than 1,000 helicopters in the range of 3-15 tonne with a total business of more than Rs 4 lakh crore over a period of 20 years at this facility in Gubbi taluk, officials said.
HAL, which finished third in the second division last year, were promoted after Tata Football Academy withdrew from the premier division.
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.
The opening match will be followed by Kolkata giants East Bengal taking on Mumbai's Air India in the 27th Federation Cup.
Taking potshots at the prime minister, Gandhi said he should stop talking about the past and start doing his work.
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.
Congress president Mallikarjun Kharge on Monday expressed apprehension that the 2024 Lok Sabha elections would be the last opportunity for the people to save democracy, as Prime Minister Narendra Modi might prefer dictatorship in case his party wins the upcoming polls.
Gandhi claimed that Dalits, tribals, and Other Backward Classes were made bonded labourers and their participation was lacking in big companies, hospitals, schools, colleges and courts.
The last year has seen public sector undertakings (PSUs) outperforming the Nifty50, albeit by a small degree. But PSU valuations are still, on average, less than half of private sector peers at price-to-equity or PE 8.7x for the Nifty PSU Index versus 20.9x for the Nifty50. There are several reasons for lower valuation.
According to HAL, "this is the biggest ever order that HAL has placed on any Indian company boosting 'Atmanirbhar Bharat' campaign."
Prime Minister Narendra Modi was accorded a warm reception as he arrived at the Indian Space Research Organisation headquarters in Bengaluru on Saturday morning.
There is little appetite among combat aircraft engine makers to share the IP that results from a co-creation project. But Rolls-Royce is willing to walk the Aatmanirbhar talk.
10 non-bank and non-finance stocks from the BSE500 Index universe that offer an optimal blend of low valuation, reasonably robust revenue and earnings growth in recent quarters, a strong balance sheet, and most importantly, positive cash flow from their operations.
It is learnt that the Chinese JF-17 was cheaper but could not match the technical parameters of the Tejas Mk-IA variant and the offer of maintenance of the Su-30 fleet as proposed by India.
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.
Under the deal signed in Moscow last month during Indian Defence Minister A K Antony's visit, HAL will supply large components to Russia's Irkut Corporation for assembling the airframes of Su-30MK fighters. The Russian firm is working on Indian, Malaysian and Algerian export orders.
The advanced light helicopter (ALH), carrying five Army personnel including two pilots, was on regular sorties when it crashed at 10.43 am on Friday near Migging, around 25 km south of Tuting, he said.
HAL is poised to sell the Philippines at least seven Dhruv Advanced Light Helicopters and eight Dornier 228 aircraft for Rs 30 billion, reports Ajai Shukla.
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.
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.
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.
The third-quarter financials didn't excite market watchers. But equity investors can still make money if they invest in the right stocks.
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