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.
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 submarines are being constructed at Mazagon Dock Shipbuilders Limited in Mumbai in collaboration with the Naval Group of France.
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.
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.
Prime Minister Narendra Modi will visit Abu Dhabi on July 15.
This firing is a significant step towards achieving self-reliance in niche missile technology. Navy said.
Singh said the warship's commissioning will boost India's maritime power.
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.
Vagir is part of the six Kalvari-class submarines being built in India.
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.
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.
The Mazagon Dock Shipbuilders in Mumbai on Wednesday launched INS Vagsheer, the last of the six submarines under Project 75.
'The Raksha Mantri's day at sea'/
The most important positive of India's stealth bull market is earnings growth across different sectors, explains Debashis Basu.
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.
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.
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.
The status of the current submarine force level is alarming and we need to address the threat perceptions expeditiously. Critical decisions pertaining to national security cannot be delayed any further due to the rapidly changing maritime threat perceptions and growing strategic importance of the Indian Ocean region, asserts Commodore Venugopal Menon (retd).
Building 6 conventional submarines is one of the Indian Navy's most important weapon construction programmes.
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.
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.
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.
The development marks a major milestone in Indian Navy's submarine programme as the vessel is expected to bolster India's maritime prowess
It will undergo a number of tests by the Indian Navy before it gets commissioned in the defence fleet.
Unlike conventional subs that must surface every 48 to 72 hours, these subs can stay submerged for up to 14 days.
The fast interceptor craft delivered can patrol the coastline at a scorching speed of 45 knots.
An official said that there were stringent norms at MDL on data security.
This is the fourth of the six submarines the Indian Navy is to induct under the Kalvari-class submarine Project-75.
Though this is part of the divestment drive, government's stake in these companies remains 100 per cent even after the buybacks
Nearly 3,500 staffers were working in the building in the Mazagon area in South Mumbai when the fire broke out around 12.30 pm, Maharashtra Deputy Chief Minister Ajit Pawar said. He assured a probe into the the fire, but clarified that no records were lost in the blaze due to digitisation of documents.
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.
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.
INS Vishakapatnam's ground attack and anti-ship capabilities are achieved through a bank of BrahMos cruise missiles that can be fired at targets up to 295 km away.
China has been commissioning three new destroyers every year while India has barely completed one destroyer every 2-3 years.
Ajit Mishra, vice president, research, Religare Broking, answers your stockmarket queries.
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.
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.
Ajit Mishra, vice president, research, Religare Broking, answers your stockmarket queries.
'The F-21's capabilities far exceed all other torpedoes currently in service.'
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