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.
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.
India has commissioned its new indigenously-built nuclear-powered ballistic missile submarine INS Aridaman into service, further strengthening the naval component of its nuclear triad. Defence Minister Rajnath Singh also highlighted the Indian Navy's role in securing maritime trade routes.
India's privatisation push, once projected as a cornerstone of economic reform, has suffered another setback, with the Centre set to call off the IDBI Bank stake sale, highlighting the political and structural constraints shaping the country's disinvestment policy, experts say.
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).
In their talks, Modi and Merz are likely to deliberate on trade and investment ties as New Delhi is looking at deepening economic engagement with Europe against the backdrop of Washington's 50 percent tariff on Indian goods, people familiar with the matter said.
The first project that is being negotiated is for the procurement of three Scorpene submarines, which will be jointly constructed by state-run Mazagon Dock Limited (MDL) and French defence major Naval Group.
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.
INS Udaygiri and INS Himagiri marks the first occasion when two frontline surface combatants constructed at two different shipyards were commissioned simultaneously.
'There's an urgent requirement, particularly for the Indian Ocean region, as China's naval presence grows, and with Pakistan also acquiring more submarines.'
Defence stocks have been on a tear, with the Nifty India Defence index hitting all-time highs. Over the past week, the index jumped around 7 per cent, far outpacing the flat performance of the Nifty 50. Over the past month, its 12 per cent gain has trebled the benchmark's return.
The mega procurement project has been approved by the Cabinet Committee on Security chaired by Prime Minister Narendra Modi, they said.
The message from Sunday's event will undoubtedly reverberate globally. It's a landmark occasion that will be remembered for generations and will inspire many other states to introduce the story of Rajendra Chola into school curricula, says Tarun Vijay.
India is expected to finalize the procurement of 26 naval variant Rafale jets and three Scorpene submarines from France in the coming weeks, further bolstering its naval capabilities. The deals, which are in the final stages of approval, could be announced during Prime Minister Narendra Modi's visit to Paris next month for an AI summit. The procurement of the Rafale (M) jets will be based on an inter-governmental agreement (IGA). The Indian Air Force is considering acquiring additional Rafale fighter aircraft squadrons. The deal for three Scorpene submarines follows the successful construction of six Scorpene submarines in India under Project 75. The defense and strategic partnerships between India and France have been strengthening in recent years, with both countries collaborating on joint development projects for jet and helicopter engines and advanced defense technologies.
The Indian Navy has commissioned three new warships, INS Surat, INS Nilgiri, and INS Vaghsheer, marking a significant step in India's defense self-reliance and indigenous shipbuilding capabilities. These state-of-the-art vessels are designed and built entirely in India, showcasing the country's growing expertise in defense production. The commissioning of these warships strengthens India's position as a global leader in defense and augments its maritime strength.
'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.'
INS Surat is the Indian Navy's first AI enabled warship.
The stocks are largely from sectors such as chemicals, finance and cement, which struggled earlier but the worse seems to be behind them.
Glimpses of the fifth Kalvari-class submarine INS Vagir in Mumbai on Friday, January 20, 2023, ahead of its commissioning ceremony.
INS Imphal is the first warship to have been named after a city from the northeast, said Vice Admiral Dinesh K Tripathi, Flag Officer Commanding in Chief, Western Naval Command.
HAL, BEL and MDL feature on Sipri's list of the 100 largest arms producers in the world.
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.
The sixth Scorpene class submarine, constructed by Mazagon Dock Shipbuilders Limited for the Indian Navy, was launched in Mumbai.
The government has approved the construction of two indigenously designed nuclear attack submarines and is expected to ink contracts next month to procure 26 naval variant of Rafale jets and three Scorpene submarines, Navy Chief Admiral Dinesh Tripathi said on Monday.
This is the first time that the two indigenously built warships have been launched concurrently.
'Those betting against PSUs will likely be punished in this upswing.'
Christened 'Vela', the submarine was launched on May 6, 2019, and has completed all major harbour and sea trials including weapon and sensor trials despite COVID-19-induced restrictions, the Navy said.
Vice President Jagdeep Dhankhar, whose wife Sudesh launched the warship, was the chief guest at the ceremony.
The Indian high commission said its operational visit is to commemorate the ninth edition of International Day of Yoga under the theme of "Global Ocean Ring".
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.
India on Thursday approved proposals for purchasing 26 Naval variant of Rafale jets from France and procuring three French-designed Scorpene class submarines, a day ahead of Prime Minister Narendra Modi's wide-ranging talks with French President Emmanuel Macron in Paris.
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 rally in the equity markets in the second half of 2023 has led to a sharp surge in the cutoff for stocks to qualify as largecaps and midcaps. On the latest list put out by the Association of Mutual Funds in India (Amfi), the smallest largecap stock now has a market capitalisation (m-cap) of Rs 67,000 crore, 35 per cent higher than in July 2023. In the case of midcaps, the cutoff has surged 26 per cent to Rs 22,000 crore.
It is the first warship to have been named after a city from the Northeastern region, the approval for which was accorded by the President in April 2019.
Khanderi is the second of the Navy's six Kalvari-class submarines built in India. It is a diesel-electric attack submarine which is designed by French naval defence and energy company DCNS which is being manufactured at Mazagon Dock in Mumbai.
The submarines are being constructed at Mazagon Dock Shipbuilders Limited in Mumbai in collaboration with the Naval Group of France.
A piece of slightly negative news can cause a serious setback, warns Debashis Basu.
Stocks of small- and mid-cap companies continued to gain ground in July, notwithstanding analysts sounding caution on these two market segments given the sharp run thus far in calendar year 2023 (CY23). Sanjeev Prasad, co-head of Kotak Institutional Equities, in a note co-authored with Anindya Bhowmik and Sunita Baldawa in June-end, had cautioned against the sharp run in small- and mid-caps. "We do not see any particular reason for the excitement in small- and mid-cap stocks.
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 Raksha Mantri's day at sea'/
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