The two ships are part of the series of eight anti-submarine warfare shallow water crafts which are under construction in CSL.
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).
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.
Equipped with torpedoes and anti-submarine rockets, the first of the Mahe-class anti-submarine warfare shallow water craft (ASW SWC) was delivered to the Navy on October 23.
'Our problem is not a budget deficit but a trust deficit. We need to trust our institutions and industries to innovate and lead. That is the way forward for India.'
No ONGC employee was on the drillship when the accident occurred.
Prime Minister Narendra Modi on Monday said the exceptional coordination among the three armed forces -- fear instilled by the Navy, extraordinary skills of the Air Force and bravery of the Army -- forced Pakistan to its knees during Operation Sindoor in no time.
That includes the building of an anti-submarine warfare Corvette and an aircraft carrier for the navy.
'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.'
'It concerns the sea and the security of the nation. What has happened is a big tragedy.'
Indian and Russian officials have discussed Indian-Russian cargo transit along the Northern Sea route, joint projects in Arctic shipbuilding and possible training of Indian sailors for polar navigation.
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.
Mutual funds' largecap investment universe is expected to see seven changes in the upcoming stock reclassification exercise by the Association of Mutual Funds in India (Amfi). According to a report by IIFL Securities, Hero MotoCorp, Zydus Lifesciences, JSW Energy, NHPC, Bharat Heavy Electricals, Bosch and Samvardhana Motherson are expected to earn upgrades in the revised list of largecap, midcap and smallcap stocks set to be released in the first week of July. Amfi revises the list at the start of January and July every year based on the previous six-month performance of the stock.
The resumption of two-carrier operations signals India's return to the elite clutch of navies that have the ship platforms and experience for operations that simultaneously involve more than one aircraft carrier.
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 benchmark Nifty50 managed to reclaim its 200-day moving average (DMA) on Wednesday but about half of top 500 stocks continue to languish below this key technical indicator. The 200-DMA - nearly a year's average of closing prices - is analysed by traders to understand the market sentiment. A fall below these levels indicates a weak trend.
Domestic institutional investors pumped Rs 2.3 trillion into equities during H1 CY24. Of this, mutual funds contributed 80%.
The Prime Minister will commission INS Vikrant at Cochin Shipyard Limited in Kochi and during the event, he will also "unveil the new naval ensign (Nishaan), doing away with the colonial past," the PMO said in a statement.
The IAC would serve to bolster India's position in the Indian Ocean Region (IOR) and its quest for a blue water 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.
Basin Trial is testing of the ship machinery and equipment in floating conditions before the sea trials. With successful completion of Basin Trials, IAC has entered the final phase of the project, a Defence statement said.
September 2, 2022 was a historic day in the Indian Navy's history as Prime Minister Narendra Damodardas Modi commissioned India's first indigenous aircraft carrier INS Vikrant at the Cochin Shipyard in Kochi.
The government on Tuesday said it has received Rs 4,353 crore as dividend tranches from seven public sector enterprises, including Coal India and PFC. Government has respectively received about Rs 575 crore and Rs 2038 crore from Nuclear Power Corporation of India Ltd and Coal India Ltd as dividend tranches," Department of Investment and Public Asset Management (DIPAM) secretary Tuhin Kanta Pandey tweeted. Besides, about Rs 887 crore and Rs 653 crore have been received from Power Finance Corporation (PFC) and Hindustan Aeronautics Ltd as dividend tranches.
The mega procurement proposal will shortly be placed before the Defence Acquisition Council, the defence ministry's top body on procurement, they said.
The biggest bounce is in the realty sector, where the industry index jumped 80%. There's been a turnaround also in automobiles and ancillaries (up 45%). The pharma and health care indices have a welcome return of roughly 35%.
The government has received Rs 413 crore as dividend tranches from five CPSEs, including NLC and NALCO. "Government has received Rs 78 crore and Rs 165 crore respectively from Antariksh corp and NLC as dividend tranches," DIPAM secretary Tuhin Kanta Pandey tweeted.
India's first indigenous aircraft carrier, INS Vikrant, headed out for the next set of its sea trials in Kochi on Sunday, January 9, 2022.
Addressing a gathering of around 6,000 in-charges of 'Shakti Kendras,' each comprising two to three booth-level areas, at Marine Drive, the prime minister said that Kerala has the potential to influence who will be in power in Delhi.
The navy's need for shallow water anti-submarine craft stems from the peculiar nature of the Arabian Sea bed, which is extremely shallow even tens of nautical miles from the coast.
The Congress on Friday attacked Prime Minister Narendra Modi for "taking credit for the commissioning of" India's first indigenous aircraft carrier INS Vikrant and accused him of "hypocrisy" for not recognising the contributions made by earlier governments.
'If the NDA comes to power with 320-330 plus seats, then we could see some correction. We could possibly see a level of 19,500 to 20,000.' 'If the NDA comes to power with a majority of 400-plus, we could see the markets going to about 23,500-24,000 levels.' 'And from there we could see some correction because markets are expensive at this point of time and a correction is overdue.'
The 1,600-member crew and a slew of civilian workers were working like busy bees on Friday preparing the majestic warship IAC Vikrant for its commissioning on September 2.
INS Vikrant is being delivered about six years late and at a cost of about Rs 20,000 crore instead of the sanctioned Rs 3,261 crore.
Stocks of defence-related companies have been firing on all cylinders on the bourses in calendar year 2023 (CY23). Shares of Hindustan Aeronautics (HAL), Bharat Electronics (BEL), Bharat Dynamics (BDL), Data Patterns, MTAR Tech, Cochin Shipyard and GRSE have rallied in the range of 21-96 per cent so far this year. By comparison, the BSE Sensex is up 8 per cent. The gains have been sustained on the back of robust export opportunities, a healthy project pipeline and the government's continued push for local manufacturing and indigenisation of defence equipment.
Navy said the landing demonstrated India's capability to design, develop, construct and operate indigenous aircraft carrier with indigenous fighter aircraft.
Cochin Shipyard, BASF India, Ingersoll Rand, Eicher Motors, Federal Bank, and Timken India are some of the firms where voting could have got affected, sources said.
The Indian Navy described it as a "proud and historic" day for the nation and said India has joined a select group of countries having niche capability to indigenously design, build and integrate a state-of-the-art aircraft carrier.
The commissioning of the indigenously-built aircraft carrier INS Vikrant will contribute in ensuring peace and stability in the Indo-Pacific region, Vice Chief of Indian Navy Vice Admiral S N Ghormade said on Thursday.
A spate of recent orders under the Indigenously Designed Developed and Manufactured (IDDM) category have led to investor focus on defence stocks. Actually, the defence index has been an outperformer for a long while with public sector undertakings (PSUs) like Hindustan Aeronautics (HAL), Bharat Electronics (BEL), Bharat Dynamics (BDL), Garden Reach Shipbuilders Engineers (GRSE), Cochin Shipyard and Goa Shipyard being beneficiaries of the policy.
The 40,000-tonne aircraft carrier, the largest and most complex warship to be built in India, successfully completed a five-day maiden sea voyage in August.
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