'The Raksha Mantri's day at sea'/
Vagir is part of the six Kalvari-class submarines being built in India.
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 development marks a major milestone in Indian Navy's submarine programme as the vessel is expected to bolster India's maritime prowess
Equipped with some of the best sensors in the world, its weapons package include sufficient wire guided torpedoes and sub-surface to surface missiles to neutralise a large enemy fleet, the Navy said.
A piece of slightly negative news can cause a serious setback, warns Debashis Basu.
An official said that there were stringent norms at MDL on data security.
The warship is packed with a plethora of sophisticated sensors, modern radar and weapons systems such as surface-to-surface missiles and surface-to-air missiles, according to the Indian Navy.
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.
This firing is a significant step towards achieving self-reliance in niche missile technology. Navy said.
For the navy, which is making do with just 14 conventional submarines against a requirement of 24, the INS Khanderi delay extends a dangerous operational void.
Investors seem to have fully savoured the Burger King India IPO, with the share sale getting subscribed a massive 156.65 times on the last day of the offer on Friday.
Unlike conventional subs that must surface every 48 to 72 hours, these subs can stay submerged for up to 14 days.
Built at the Mazagon Dock Shipbuilders Ltd in Mumbai, the ship's construction also marks the end of the Project 15A to build Kolkata-class guided missile destroyers.
It will undergo a number of tests by the Indian Navy before it gets commissioned in the defence fleet.
Though this is part of the divestment drive, government's stake in these companies remains 100 per cent even after the buybacks
While the corporate sector has benefited from massive capital expenditure, leading to sky-rocketing stock prices, investors would do well to keep an eye on the macroeconomic picture and government finances, not just corporate profits, for signs of trouble, alerts Debashis Basu.
Building 6 conventional submarines is one of the Indian Navy's most important weapon construction programmes.
INS Vindhyagiri (F-42), the sixth and the last of the Nilgiri class of frigates which was damaged in an accident last year, has been decommissioned.
Prime Minister Narendra Modi will visit Abu Dhabi on July 15.
The Mazagon Dock Shipbuilders in Mumbai on Wednesday launched INS Vagsheer, the last of the six submarines under Project 75.
The Navy commander also said that as many as 39 naval ships and submarines are currently being constructed in various Indian shipyards that are expected to significantly boost India's maritime prowess.
With the Indian Navy's requirement of conventional submarines standing at 24, there is critical need to expedite the planned acquisition of six more conventional submarines.
Singh said the warship's commissioning will boost India's maritime power.
The 143-metre-long warship, with 6,000-tonne displacement, has "versatile control systems with signature management and radar cross-section reduction features."
India's largest warship builders -- Mazagon Dock Ltd, Mumbai; and Garden Reach Shipbuilders & Engineers, Kolkata - have prevailed over the Indian Navy's objections. MDL and GRSE will divide between them the entire order for seven improved stealth frigates, code-named Project 17A.The Navy was insisting that the first two frigates of Project 17A be built abroad, so that MDL and GRSE could learn how to build ships using new modular methods that are preferred by European shipyard
The Indian Navy's firepower is going to be significantly boosted with the addition of four heavy warships. The navy's design chief, Rear Admiral MK Badhwar, has confirmed for the first time, to Business Standard, that the Defence Acquisition Council --the top procurement body in the Ministry of Defence --has cleared Project 15-B, the construction of four 6800-tonne destroyers by Mazagon Dock Ltd, Mumbai.
The 6500-ton ship, to be named INS Kochi, is being built by Mazagon Docks Limited in Mumbai.
Confronted with competition, state-run logistics companies are opting for joint ventures among themselves and with the private sector.
New Delhi had proposed during the 2+2 dialogue in April that the US navy could avail of the services and expertise of Indian shipyards.
Pakistan military authorities have committed to the release Indian soldier Chandu Chavan, who inadvertently strayed across the border last year, Union Minister of State for Defence Subhash Bhamre said in Mumbai on Thursday.
The fast interceptor craft delivered can patrol the coastline at a scorching speed of 45 knots.
All the six diesel-electric attack submarines will be equipped with the anti-ship missile, which has a proven record in combat, the defence ministry said.
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.
The MoD did not reveal the number of missiles procured through the latest contract.
However, this information was inadvertently revealed through an official MoD photograph that accompanied the announcement.
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.
The most important positive of India's stealth bull market is earnings growth across different sectors, explains Debashis Basu.
INS Karanj is the third Kalavari-class submarine to be commissioned into the Navy. The diesel-electric submarines based on the Scorpene design are also referred as Scorpene class submarines.
