Page 20 - Defence Sector

HAL gains 3% to cross Rs 4,000-mark; stock touches fresh lifetime high

Thus far in the calendar year, the stock price of HAL has appreciated nearly 60 per cent, as compared to 6.8 per cent rise in the S&P BSE Sensex

Bharat Forge hits 52-week high as arm secures order worth Rs 850 crore

In an exchange filing on August 21, the company said that Kalyani Strategic Systems, Bharat Forge's wholly-owned subsidiary bagged two export orders to be executed over 18 months timeline

Data Patterns rallies 9% to hit record high on strong order book position

The government's focus on liberalising foreign investment restrictions to achieve self-reliance under the 'Atmanirbhar Bharat' initiative is expected to keep the sector on a strong growth trajectory

First long-range side swing revolver launched, can hit targets up to 50 m

The country's first long-range side swing revolver 'Prabal' with "twice the range of other revolvers" was launched on Friday for civilians and arms dealers. Manufactured by the state-owned enterprise Advanced Weapons and Equipment India (AWEIL) based in Kanpur, the Prabal revolver boasts of a firing range of up to 50 metres, officiating director Rajiv Sharma said. Sharma said the .32 bore revolver is capable of accurately hitting targets up to 50 metres away. "This range is more than double that of other revolvers currently in production, establishing Prabal as a frontrunner in the field of long-range handguns," he added. "The feature that sets Prabal apart from its counterparts is the incorporation of a side swing out cylinder. This innovative design element eliminates the need to fold the firearm for cartridge insertion, simplifying the reloading process and enhancing user convenience," he said. Sharma said the single and double action 'Prabal' revolver weighs 675 grams (excludi

250 exhibitors to showcase solutions at Delhi Machine Tool Expo next week

Over 250 exhibitors are expected to participate and display their technology solutions at Delhi Machine Tool Expo (DMTX 2023) to be held here next week, according to a statement. The fourth edition of the Delhi Machine Tool Expo (DMTX 2023) organised by the Indian Machine Tool Manufacturers' Association (IMTMA), will be held at Pragati Maidan, New Delhi from August 24-27, 2023, the statement said. Both Indian and foreign exhibitors are expected to participate and connect with more than 15,000 visitors that are expected to attend the expo. "The previous edition of the show held in Pragati Maidan in 2017 had evoked a good response from the manufacturing industry. Machine tool manufacturers who participated in the show were able to expand their range," IMTMA President Ravi Raghavan said, adding that he expects DMTX 2023 would help them build on to their earlier success and reach out to many more industries in the northern region of India. The expo would have pavilions on Metrology Exp

Cochin Shipyard hits record high, up 37% in three days post strong Q1 show

The company's Q1 net profit had soared 123.7 per cent to Rs 109.41 crore for the June 2023 quarter as against Rs 48.91 crore in the year ago period.

Rahul Gandhi, Cong MP Amar Singh nominated to House panel for defence

Days after his Lok Sabha membership was restored, Congress leader Rahul Gandhi was on Wednesday nominated to the parliamentary standing committee on defence. Congress MP Amar Singh too has been nominated to the committee, according to a Lok Sabha bulletin. Newly elected Aam Aadmi Party member of Lok Sabha Sushil Kumar Rinku has been nominated to the committee on agriculture, animal husbandry and food processing. Rinku had recently won the Jalandhar Lok Sabha bypoll and is the sole AAP member in the Lower House of Parliament. NCP's Faizal P P Mohammed, whose Lok Sabha membership was restored in March, has been nominated to the committee on consumer affairs, food and public distribution. Before being disqualified in March, Gandhi was a member of the parliamentary panel on defence. On August 7, the Lok Sabha membership of Gandhi was restored, days after the Supreme Court stayed his conviction in a 2019 defamation case over his "Modi surname" remarks. Gandhi was disqualified as a Lok

India's first drones testing centre to be set up in Tamil Nadu: State govt

The country's first Common Testing Centre for Unmanned Aerial Systems (drones) would be established in Tamil Nadu at an outlay of Rs 45 crore, the state government said on Wednesday. Tamil Nadu Industrial Development Corporation (TIDCO) is the nodal agency for the implementation of the TN Defence Industrial Corridor, and one of the strategies of the corridor is to provide an ecosystem for the aerospace and defence industry. The non-availability of a Common Testing Centre is an 'entry barrier' for organisations engaged in the aerospace and defence industry, and TIDCO has planned to set up such test centres under the Centre's Defence Testing Infrastructure Scheme in Tamil Nadu. For setting up such a Common Testing Centre, TIDCO has floated a Request for Proposal (RFP) for identifying industrial partners. "A consortium of companies consisting of Keltron, Sense Image Technologies, Standards Testing, and Compliance, and Avishka Retailers had been chosen based on the response to the ...

Defence stocks pricing in all positives and offer limited upside: Analysts

However, the rally, which has been accompanied by high valuations, could stagnate in near term as companies may not meet investors' expectations of sustained performance every quarter, analysts say

President Murmu to launch advanced stealth frigate for Navy on Thursday

President Droupadi Murmu will launch an advanced stealth frigate here for the Indian Navy on Thursday, further propelling India's maritime prowess, a defence official said. Murmu will launch the 'Vindhyagiri' at Defence PSU Garden Reach Shipbuilders and Engineers Ltd's (GRSE) facility on the banks of River Hooghly in Kolkata, he said. This is the sixth of seven ships being built under Project 17 Alpha for the Navy. The first five ships of the project were launched between 2019 and 2022. This is the third and last stealth frigate that the Kolkata-based warship maker was contracted to build for the Navy under Project 17A. The official said that 75 per cent of orders for equipment and systems of P17A ships are from indigenous firms, including micro, small and medium enterprises (MSMEs). The state-of-the-art ship will be fitted with the latest gadgets and undergo extensive trials before being handed over to the Indian Navy for commissioning into service. P17A ships are guided missil

Stock of this defence company has zoomed 110% in 6 weeks on strong outlook

Thus far in the calendar year 2023, the stock price of Zen Technologies has skyrocketed 372 per cent, as compared to 7 per cent rise in the S&P BSE Sensex.

Garden Reach Shipbuilders & Engineers soars 13% on strong Q1 results

Analysts at ICICI Securities expect execution to remain healthy over the next two years, led by execution of orders in hand

India, Italy to soon sign MoU in defence sector, says Ambassador Luca

Italy's Ambassador to India Vincenzo De Luca on Thursday said the two countries will soon sign a bilateral pact in the defence sector to ramp up their military ties and maintained Rome was working hard to contribute to the Make in India programme. In a move to enhance navy-to-navy cooperation between the two countries, Italian Navy's warship ITS Morosini is on a port visit to Mumbai from August 10-13. Italian Navy officials will also meet the top brass of the Mumbai-headquartered Western Naval Command during this period. We are working very hard to contribute to the programme of self-reliance, Make in India, Luca said at a press conference here. He stated that there are some specific technologies where Italy can add value to the Make in India programme, namely torpedo, helicopter, radar, electronic warfare and shipyard. Make in India is the Centre's flagship programme that aspires to facilitate investment, foster innovation, enhance skill development and build best-in-class ...

Monsoon Session: Parliament clears inter-services organisations bill

The Parliament on Tuesday passed a bill which seeks to provide the commander-in-chief and officer-in-command of inter-services organisations disciplinary and administrative powers over personnel from other forces serving in such establishments. The bill was cleared in Rajya Sabha with a voice vote. Lok Sabha had had given its nod to the legislation on August 4. Defence Minister Rajnath Singh said India is fully prepared to face any type of warfare and the country's defence spending can be increased to 5-6 per cent of GDP if needed. In his reply to discussion on The Interservices Organisations (Command, Control and Discipline) Bill, 2023, Singh said also said filling vacancies in the armed forces is a continuous process. The country's maritime interest is fully protected and there is no reason for the house to worry about it, he said, adding "Also, we are fully prepared for any type of warfare." This preparedness will continue going forward, Singh asserted. On low defence spendin

BEL hits record high on strong Q1 results; stock up 32% so far in 2023

The state-owned company saw 12.5 per cent YoY revenue growth to Rs 3,446 crore in Q1FY24, whereas total expenses climbed 9.4 per cent YoY to Rs 2,948 crore

US working with India on co-producing extended-range artillery: Pentagon

The US is working with India on proposals to co-produce extended-range artillery and infantry vehicles to meet its operational requirements along its border with China and address its "coercion and harassment", a top Pentagon official said on Thursday. The Indian and Chinese troops are locked in an over-three-year confrontation in certain friction points in eastern Ladakh. This is part of the unprecedented steps being undertaken by the Biden administration to enable its allies and partners to contribute to deterrence in the Indo-Pacific region, said Ely Ratner, Assistant Secretary of Defence for Indo-Pacific Security Affairs, in prepared opening remarks for his Congressional hearing on China. The hearing is taking place at a time when relations between the US and China have been hit badly amid disputes over human rights, access to technology, China's territorial claims in the South China and East China seas and threats against self-governing Taiwan. Pentagon, he said, is supporting

Lockheed Martin raises full-year forecast on strong weapons demand

The advanced jet is Lockheed's largest program, after having generated 27% of total consolidated net sales and 66% of aeronautics' net sales in 2022

Defence order wins, market share gains positive for Ashok Leyland

Muted sequential Q1 performance may cap near-term upsides

Rajnath Singh discusses deepening of bilateral ties with Malaysian PM

Defence Minister Rajnath Singh called on Prime Minister of Malaysia Anwar Ibrahim and held talks with his Malaysian counterpart Mohamad Hasan here on Monday and discussed ways to further deepen bilateral defence ties. Singh arrived in Kuala Lumpur on Sunday on a three-day visit aimed at further boosting bilateral defence and strategic ties. "Called on the Prime Minister of Malaysia, Mr @anwaribrahim in Kuala Lumpur. Deeply appreciate his positive approach and interest towards further deepening India-Malaysia bilateral relations," he tweeted. "Had an excellent meeting with the Defence Minister of Malaysia, Mr. Mohamad Hasan in Kuala Lumpur today. We reviewed the diverse pillars of the extensive bilateral defence engagement and discussed the roadmap for the 4th Decade of India-Malaysia Defence Cooperation," he said. The defence ministry in New Delhi said on Saturday that Singh and Hasan will review defence cooperation between the two countries and explore new initiatives to further .

Taking measures to remove obstacles: Def Secy on manufacturing industry

The government is committed to ensure quality assurance in military aviation and is taking appropriate measures to remove obstacles in indigenisation of defence manufacturing industry, Defence Secretary Giridhar Aramane said on Monday. He was delivering a keynote address at a workshop on 'QA Reforms in Military Aviation for Promoting Indigenous R&D and Manufacturing', held here. The defence secretary was the chief guest at the function organised by Directorate General of Aeronautical Quality Assurance (DGAQA), MoD and Society of Indian Defence Manufacturers (SIDM), the defence ministry said in a statement. He said the country is progressing in line with the Prime Minister's vision of 'Aatmnirbharata' in defence. It is a challenge, but systems are being put in place and measures are being taken to achieve it, he said, and urged the private sector to invest more in aeronautical quality assurance research and testing. The government is committed to ensure quality assurance in ...