Defence stocks including Garden Reach Shipbuilders, Hindustan Aeronautics, Paras Defence, Cochin Shipyard, among others rallied up to 6% on Wednesday, after the government approved five capital acquisition proposals worth ₹21,772 crore to improve the country’s defence preparedness. Garden Reach Shipbuilders & Engineers share price led the rally with gains of 6.2%, Paras Defence and Space Technologies shares surged as much …
: The Defence Acquisition Council chaired by the Defence Minister has two mega proposals lined up from the Navy and the Air Force, estimated to cumulatively cost over ₹1 lakh crore, as it is expected to meet at the end of this month. The Navy’s proposal for a repeat order of a Vikrant-like aircraft carrier, estimated to cost approximately ₹40,000 …
India's defence ministry had cleared nine procurement proposals of around ₹45,000 crore, including ones to acquire 12 Su-30 MKI fighter jets, maufactured by Hindustan Aeronautics Limited. "All these procurements will be made from Indian vendors under Buy /Buy category which will give substantial boost to the Indian defence Industry towards achieving the goal of 'Aatmanirbhar Bharat'," the defence ministry said. …
The Defence Ministry’s Defence Acquisition Council on Tuesday approved proposals to buy ₹8,722.38 crore worth of military hardware from domestic companies, a government statement said Tuesday. With the Bengaluru Hindustan Aeronautics Limited having successfully developed Basic Trainer Aircraft Prototypes and certification process underway, “the DAC approved procurement of 106 Basic Trainer Aircraft from HAL to address the basic training requirements …
