HAL receives first set of wing assemblies for Tejas LCA from L&T
The wing assemblies have been produced by Larsen & Toubro.
HAL Chairman and Managing Director D K Sunil described it as a 'testament" to years of 'dedicated hand-holding and a shared commitment to excellence" by the aerospace major and the L&T.
'The HAL is working with suppliers, both large and SMEs, as an initiative towards achieving Aatmanirbharta in the aerospace and defence sector," he said.
'The HAL has effectively built a parallel aircraft structural assembly line in the private sector which will help in capacity augmentation of the LCA Tejas programme," he said.
The wing assemblies were handed over to HAL in Coimbatore.
In February 2021, the defence ministry sealed a Rs 48,000 crore deal with HAL for the procurement of 83 Tejas Mk-1A jets for the IAF.
The ministry is also in the process of procuring 97 more LCA Mk-1As at a cost around Rs 67,000 crore.
The single-engine Mk-1A will be a replacement for the IAF's MiG-21 fighters.
The IAF is looking at inducting the warplanes as the number of its fighter squadrons has gone down to 31 from officially sanctioned strength of 42.
Tejas is a single-engine multi-role fighter aircraft capable of operating in high-threat air environments.
It has been designed to undertake air defence, maritime reconnaissance and strike roles. PTI MPB ZMN
(This story has not been edited by News18 staff and is published from a syndicated news agency feed - PTI) view comments
First Published:
July 17, 2025, 20:15 IST
Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Economic Times
11 minutes ago
- Economic Times
Eternal shares zoom over 7% despite 90% dip in PAT. Here's why
Eternal shares rallied over 7% as Q1FY26 revenue surged, led by Blinkit's stellar growth, even as net profit declined sharply due to ongoing investments. Eternal's Q1FY26 results showed a 70% YoY revenue surge to ₹7,167 crore, though net profit dropped 90% to ₹25 crore. The stock rose 7.55%, driven by strong growth in Blinkit's revenue, which tripled YoY to ₹2,400 crore. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads The shares of Eternal today zoomed 7.55% to their intraday high of Rs 276.80 on the BSE, following a 70% YoY surge in Q1FY26 revenue at Rs 7,167 crore even as net profit plunged 90% net profit for the said period was reported at Rs 25 crore, against Rs 253 crore reported in the corresponding quarter of the previous financial in addition to the increasing revenues, the stock's rally may also be attributed to the growth of its quick commerce business, Blinkit, which posted a revenue of Rs 2,400 crore, up from Rs 942 crore, reported in the year-ago period and from Rs 1,709 crore reported in the last the food delivery segment clocked a revenue of Rs 2,261 crore in the first quarter of FY26, compared to Rs 1,924 crore in the same quarter of the last fiscal year."On the profitability front, consolidated Adjusted EBITDA declined 42% YoY to Rs 172 crore in Q1FY26, largely on account of the continuing investments in quick commerce and going-out, which were partly offset by the improvement in food delivery Adjusted EBITDA margin (as a % of NOV) to 5.0% from 3.9% a year ago," the company informed in its filing to the profit after tax (PAT) fell 36% on a quarter-on-quarter basis versus Rs 39 crore reported in Q4FY25. The significant drop in profit was due to ongoing investments in quick commerce and the going-out read: Early Q1 results show a slowdown in revenue and profit growth for Indian companies
India Today
11 minutes ago
- India Today
GST shock for Karnataka vendor raises concerns among small UPI users
Imagine selling vegetables on a street corner for four years and then suddenly getting a tax notice asking you to pay Rs 29 lakh. That's exactly what happened to Shankargouda Hadimani, a small vegetable seller from Haveri, runs a tiny stall near the Municipal High School grounds. Most of his customers pay him using UPI or other digital wallets. It's quick, easy and saves him from handling too much cash. But this digital trail has now landed him in the Goods and Services Tax (GST) officials sent him a notice claiming he made transactions worth Rs 1.63 crore over four years and now owes Rs 29 lakh in GST. But here's the twist, fresh vegetables are exempt from GST. So, why did he get such a huge tax bill?EXEMPT, BUT NOT SPARED 'GST is not charged on the sale of fresh fruits and vegetables (except if they are packaged or labelled),' explains Harpreet Singh, Partner at Deloitte. 'However, when payments are made through banks or digital channels, tax officials closely review these transactions. If a seller's total sales go beyond a certain limit, the tax department may ask for proof and records to verify the business. This is why small vendors selling exempted items like fresh vegetables sometimes receive tax notices asking them to justify their sales.'For small vendors like Shankargouda, this can be a nightmare. Many don't know how to keep detailed records. They earn daily, spend daily and rarely hire TRAIL BECOMES A SOFT TARGETSundeep Gupta, Partner - Accounting and Business Support at Baker Tilly ASA India, says, 'Digital payments leave behind a clear transaction trail, an easy target for tax authorities eager to flex their powers. While scrutiny is not inherently wrong, issuing tax notices based solely on aggregate transaction volumes, especially to street vendors, is reckless and unjust.'In simple words, because Shankargouda accepted UPI payments, tax officials could see all the money flowing in and out. This should be a good thing, but instead, it turned into a Gupta adds, 'In this case, the sale of fresh fruits and vegetables, explicitly exempt from GST unless processed, was flagged simply because it showed up in a digital trail. This is not just a technical oversight; it's a failure of basic due diligence. These vendors often lack legal awareness, access to tax professionals, and the financial means to defend themselves. Penalising them without proper checks is not enforcement, it's exploitation.'DIGITAL PUSH NEEDS A REALITY CHECKSiddharth Surana, a GST Consultant, says that cases like this show the changing face of GST in India. 'The case of the Karnataka vegetable vendor illustrates the evolving landscape of GST, which is transparent, data-driven and encourages more formalisation of the economy,' he explains.'UPI has been one of the success stories of the Digital India campaign. UPI has enhanced the traceability of transactions and, in recent times, there has been sharing of UPI data with the tax authorities. This has led to several persons receiving notices even though they are not presently registered under GST,' Surana adds that while the goal of widening the tax base is good, it is also true that small vendors often do not have the systems or knowledge to handle complex GST rules. 'For such individuals, the transition from informal to formal systems can be overwhelming, both administratively and financially. Many of these vendors are unable to deal with the compliance burdens and find it unviable to meet the costs of compliance,' he explains.A RISK TO CASHLESS INDIAThis incident shows why small traders might stop taking UPI payments out of fear. Many would rather handle cash than deal with confusing tax demands. This goes against the government's aim of building a cashless such GST notices continue, many honest vendors will think twice before using digital payments. Customers too may find it harder to pay small sellers without believe it may be time for the government to rethink the GST threshold for registration and reporting. Siddharth Surana says, 'There is a need to revisit the GST thresholds for registration. There is also a need to increase taxpayer education, especially among new entrants to the GST universe, to increase acceptability of GST.'If this does not happen, many small traders will lose trust in digital payments, and India's dream of a cashless economy may take a big step backwards.- EndsMust Watch
Time of India
11 minutes ago
- Time of India
Blinkit won't cede quick commerce market leadership under any circumstance, says Albinder Dhindsa
CEO Albinder Dhindsa pointed out that Blinkit's near-term margins appear to have stabilised. For the April-June quarter, Blinkit reported a 140% year-on-year jump in gross order value (GOV) to Rs 11,821 crore, effectively taking its annualised GOV run rate to around $5.5 billion. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Blinkit will not yield ground in the highly competitive quick commerce sector, its chief executive Albinder Dhindsa said on Monday, underscoring that long-term profitability was not a also pointed out that Blinkit's near-term margins appear to have stabilised. 'It feels like margins have bottomed out,' Dhindsa said. As roughly a year's worth of new dark stores begin maturing, he expects both percentage margins and absolute losses to said, he noted that margin gains won't be smooth. 'There could be some bumps along the way if the competitive intensity goes up again.'Dhindsa's comments come at a time when the 10-minute delivery space has seen the entry of multiple players, over the last year. The new entrants include larger, cash-rich ecommerce companies such as Walmart-owned Flipkart and Amazon India.'The opportunity in front of us is massive, which means that the competition in this space is also very high. We see an influx of new players in this segment every now and then, and we see varying aggression by existing competitors, depending on their balance sheet and near-term growth objectives. Under no circumstances, will we let go of our market position here, and lose sight of the size of the prize in the long term,' Dhindsa wrote in a letter to the shareholders of Blinkit's parent company, Eternal For the April-June quarter, Blinkit reported a 140% year-on-year jump in gross order value (GOV) to Rs 11,821 crore, effectively taking its annualised GOV run rate to around $5.5 the same time, the quick commerce company, which competes with Zepto, Swiggy Instamart, BigBasket, JioMart and others, reported adjusted operating losses of Rs 162 crore for the first quarter.'The long term profitability of the business is not a concern. Despite the investments in long term infrastructure and high competition, a large portion of our business is already profitable with some cities at over 2.5% adjusted Ebitda margin (as a % of net order value). Getting to these margins in some cities so early in this business, is a testament to the feasibility of our long term guidance of 5-6% margin,' Dhindsa noted, adding that in the near-term, loss margins have bottomed out.
