DAC clears ten capital acquisition proposals worth over Rs 1.05 lakh crore
The Council meeting, chaired by Defence Minister Rajnath Singh, approved projects amounting to approximately. Rs 1.05 lakh crore and will be sourced indigenously.
AoNs were accorded for the procurement of Armoured Recovery Vehicles, Electronic Warfare System, Integrated Common Inventory Management System for the Tri-Services and Surface-to-Air Missiles.
The Ministry of Defence said, "These procurements will provide higher mobility, effective air defence, better supply chain management and augment the operational preparedness of the Armed Forces."
AoNs were also accorded for the procurement of Moored Mines, Mine Counter Measure Vessels, Super Rapid Gun Mount and Submersible Autonomous Vessels. These procurements will enable mitigation of potential risks posed to the Naval and Merchant Vessels, MoD said.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Time of India
12 minutes ago
- Time of India
Mivi AI Buds with active noise cancellation, multi-language interaction feature launched in India, priced at Rs 6,999
Mivi has expanded its product lineup with the launch of Mivi AI Buds. The company claims that the earbuds are designed to offer an immersive audio experience with an emotionally intelligent AI platform. Mivi AI Buds promise to offer a screen-free and natural conversational experience. The Mivi AI Buds come with a price tag of Rs 6,999 and it is available online on Flipkart and starting today (July 4).'This is India's AI moment,' said Midhula Devabhaktuni, Co-founder and CMO of Mivi. 'Our AI Buds are not just smart—they're intuitive, sensitive, and human-like. We're proud to lead this revolution.' Mivi AI Buds features The Mivi AI Buds feature an hourglass-inspired ergonomic design and it is compatible with Android operating system. Users can install the Mivi AI App for better user experience. The true wireless earbuds 3D Soundstage and Spatial Audio for immersive listening. The TWS feature quad mic for active noise cancellation during calls. Mivi AI Buds promise to offer 40 hours of battery backup with the charging case. The AI supports eight Indian languages—Hindi, Tamil, Telugu, Bengali, Marathi, Kannada, Malayalam, and Gujarati—without requiring manual switching. Users can activate the assistant with a simple 'Hi Mivi', enabling screen-free, contextual conversations ranging from job interview prep to cooking guidance. Mivi AI is powered by a suite of domain-specific avatars, including: Guru Avatar for simplified knowledge and explanations Interviewer Avatar for mock interviews and feedback Chef Avatar for step-by-step cooking help Wellness Coach Avatar for emotional support News Reporter Avatar for real-time, personalized news updates
News18
12 minutes ago
- News18
Paras Defence Shares Jump 10% On Turning Ex-Split Today; Key Points For Investors
Last Updated: Shares of Paras Defence and Space Technologies were locked in a 10 per cent upper circuit at Rs 933.50 on the BSE; Should you invest? Paras Defence Shares Hit Upper Circuit: Shares of Paras Defence and Space Technologies were locked in a 10 per cent upper circuit at Rs 933.50 on the BSE during Friday's intra-day session. The rally came as the small-cap aerospace and defence firm turned ex-split in a 1:1 ratio, subdividing equity shares from Rs 10 to Rs 5 face value. Over the last four trading sessions, the stock has surged 24 per cent, driven by news that Paras Defence will supply advanced counter-unmanned aircraft system (UAS) technology to CERBAIR, a France-based firm. The stock recently hit a 52-week high of Rs 971.80 (adjusted for the split) and has more than doubled—soaring 133 per cent—from its 52-week low of Rs 401 touched on April 7, 2025. Stock Split Details The board of directors approved the stock split on April 30, 2025, converting 1 equity share of Rs 10 face value into 2 equity shares of Rs 5 each. The record date for the stock split was fixed as Friday, July 4, 2025. Investors purchasing shares on or after this date will not be eligible for the split. Paras Defence said the move is aimed at enhancing liquidity and making the stock more accessible to retail investors by reducing the per-share price. In a recent interview with CNBC-TV18, Amit Mahajan of Paras Defence clarified that the company's exposure to Israel is primarily for technology transfers and not direct exports. He added that while minor delays of 1–2 weeks are expected in tech transfer from Israeli firms, there is no anticipated supply chain disruption that would impact component imports. The company's total export exposure to Israel stands at only 5 per cent. Shares of Paras Defence had closed 0.24% lower at Rs 1,692.20 on Thursday. Over the past six months, the stock has gained 75 per cent. Strong Tailwinds for India's Defence Sector India's defence sector is entering a high-growth phase, with the Ministry of Defence targeting Rs 3 trillion in indigenous production by 2028–29F, implying a 19 per cent CAGR from FY24 levels. Defence exports are expected to rise to Rs 50,000 crore by the same year, building on the 32.5 per cent YoY jump recorded between FY23 and FY24. Analysts at InCred Equities highlighted government initiatives such as the Technology Development Fund, which has sanctioned 78 projects worth Rs 333 crore, and DRDO's support for the industry through free patent access and technology transfers. For FY26BE, the MoD has allocated Rs 6.81 trillion, up 6.3 per cent YoY. Given ongoing geopolitical tensions—especially in the Indo-Pacific and along India's borders with China and Pakistan—InCred projects the defence budget to grow by around 10 per cent YoY in FY27F to reach Rs 7.49 trillion. Meanwhile, the Defence Acquisition Council (DAC) has approved capital procurement proposals worth Rs 1.05 trillion. All fall under the 'Buy (Indian–IDDM)' category, ensuring only domestically designed, developed, and manufactured systems will be procured. About Paras Defence and Space Technologies Paras Defence is a leading Indian defence engineering company offering a full suite of indigenously designed, developed, and manufactured (IDDM) products and solutions across the defence and space sectors. Its client portfolio includes marquee names such as DRDO, ISRO, BEL, L&T, Ordnance Factories, and the Ministry of Defence. The company also exports to several global markets including Israel, Europe, the USA, and South Korea. Disclaimer:Disclaimer: The views and investment tips by experts in this report are their own and not those of the website or its management. Users are advised to check with certified experts before taking any investment decisions.
Time of India
14 minutes ago
- Time of India
SC refuses to entertain plea of HDFC Bank CEO against FIR by Lilavati Trust
ANI Image NEW DELHI: The Supreme Court on Friday refused to entertain the plea of HDFC Bank CEO and MD Sashidhar Jagdishan seeking quashing of FIR lodged against him for cheating and fraud by Lilavati Kirtilal Mehta Medical Trust, as it noted that the Bombay High Court is scheduled to hear his plea on July 14. A bench of Justices PS Narasimha and R Mahadevan said that it hopes and trusts that the matter will be taken up on July 14 for hearing. It further observed that it was improper on the part of the Supreme Court to intervene when Jagdishan's petition was listed before the Bombay High Court on July 14. Senior advocate Mukul Rohatgi, for Jagdishan, pressed for interim protection at least until July 14, saying the FIR was frivolous and that the bank had been roped into a private dispute between the trustees. "We sympathise, the case was initially listed for hearing on June 18, June 20... We hope and trust that the matter will be taken up on July 14," said the bench. HDFC Bank CEO and MD Sashidhar Jagdishan on Thursday approached the apex court against the FIR lodged against him According to the complaint filed by the Trust, which owns and manages the famous Lilavati Hospital in Mumbai, Jagdishan allegedly accepted a bribe of Rs 2.05 crore in exchange for providing financial advice to help the Chetan Mehta Group retain illegal and undue control over the Trust's governance. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like One of the Most Successful Investors of All Time, Warren Buffett, Recommends: 5 Books for Turning... Blinkist: Warren Buffett's Reading List Click Here Undo It further accused Jagdishan of misusing his position as the head of a leading private bank to interfere in the internal affairs of a charitable organisation. Based on an application moved by the Trust, the FIR against Jagdishan was registered at the Bandra police station following an order by a Bandra Magistrate Court under Section 175(3) of the Bharatiya Nagarik Suraksha Sanhita (BNSS). Jagdishan was booked under charges of cheating, criminal breach of trust, and criminal breach of trust by a public servant. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
