logo
First Nashik-produced LCA Mk-1A set for maiden flight in July

First Nashik-produced LCA Mk-1A set for maiden flight in July

Hindustan Times16-06-2025
The first light combat aircraft (LCA Mk-1A) built at Hindustan Aeronautics Limited's new production line in Nashik is set to make its maiden flight in mid-July, and the state-owned plane maker is targeting delivery of the first LCA Mk-1A produced in Bengaluru to the Indian Air Force in July-August after a delay of almost 16 months, officials aware of the matter said on Monday.
HAL can build 16 Mk-1As every year in Bengaluru, and the Nashik production line will help it boost production to a total of 24 jets. To be sure, the Bengaluru-produced LCA Mk-1A flew for the first time in March 2024.
'The Nashik production line will roll out four to five Mk-1A fighters this year, followed by eight annually next year onwards. It will help us make up for the delay in deliveries due to factors including US firm GE Aerospace's inability to supply F404- IN20 engines on time and some pending certifications,' said one of the officials cited above, asking not to be named.
IAF is concerned about the current pace of the LCA Mk-1A programme because of the possible risks a delay in the induction of new fighters could pose to its combat effectiveness. The air force ordered 83 Mk-1A fighters for ₹48,000 crore in February 2021 and plans to buy 97 more Mk-1As at a cost of around ₹67,000 crore.
The first of the 83 jets on order was to be delivered to the IAF by March 31, 2024. The last of the 83 jets are to be delivered by 2028-29.
'HAL has so far manufactured six LCA Mk-1As in Bengaluru to execute the 83-aircraft order. One of these, equipped with GE's F404-IN20 engine, is expected to be delivered to the IAF in July-August. We have sufficient capacity to offset the delay once the engine supplies stabilise,' said a second official, who also asked not to be named.
GE Aerospace delivered the first of 99 F404-IN20 engines to HAL in March. The second engine is expected to be delivered in July, followed by two every month until December, the officials said, adding that deliveries will be accelerated next year onwards.
With no additional engine orders, the production line for F404-IN20 in the US was shut down. However, when HAL ordered an additional 99 engines in 2021 for the LCA Mk-1A, the US firm began the complex task of restarting the production line, which had been dormant for five years, and re-engaging the engine's global supply chain.
In May, IAF voiced its frustration over the delays in key projects.
The chief of the air staff Air Chief Marshal AP Singh then put the spotlight on the armed forces' agonising wait for new weapons and systems, saying he could not recall a single instance of a project being executed on time, in what was seen as a wake-up call for the country's defence production sector.
'Timelines are a big issue,' Singh said at the CII Annual Business Summit 2025. The air force is grappling with a shortage of fighter jets and operates around 30 fighter squadrons compared to an authorised 42.
The armed forces have so far not called 'the black sheep' out, but their 'restraint' should not be stretched to a breaking point, Singh said, issuing a veiled warning to defence public sector units including HAL and the Defence Research and Development Organisation among others.
Singh has often publicly flagged concerns about a worrying erosion of IAF's capabilities and called for urgent measures to fix it. In February, he questioned the ability of HAL to meet the air force's critical requirements in the backdrop of the lingering delay in the supply of new Mk-1A fighter jets, saying he had 'no confidence' in the plane maker.
HAL chief DK Sunil then responded by saying that his company's focus is on delivering the LCA Mk-1A to the IAF at the earliest rather than spending time on countering criticism of the indigenous programme.
The LCA is set to emerge as the cornerstone of IAF's combat power as the world's fourth largest air force is expected to operate around 350 LCAs (Mk-1, Mk-1A and Mk-2 variants) in the coming decades. The Mk-1A, a 4.5 generation fighter, will come with digital radar warning receivers, external self-protection jammer pods, superior radar, advanced beyond-visual-range (BVR) air-to-air missiles, and significantly improved maintainability.
On June 11, a top IAF officer said precision weapons, such as the ones used by IAF against Pakistan during Operation Sindoor rendered geographical barriers almost meaningless and altered the relationship between distance and vulnerability.
'Today, precision-guided munitions like Scalp and BrahMos (missiles) have rendered geographical barriers almost meaningless as strikes with beyond visual range air-to-air missiles and supersonic air-to-ground missiles have become commonplace,' said Air Marshal Ashutosh Dixit, chief of integrated defence staff.
Modern warfare -- thanks to technology -- has fundamentally altered the relationship between distance and vulnerability, he added.
In March, a top government committee recommended a raft of short and long-term measures to boost the capabilities of IAF and pointed out that it was critical to enhance self-reliance in the aerospace sector through increased participation of the private sector to fill critical gaps.
Steps are being taken to boost private participation in the aerospace sector.
Last month, India unveiled its long-awaited plan to fast-track the development of an indigenous fifth-generation stealth fighter, or the advanced medium combat aircraft (AMCA), announcing that the execution model will be competitive and provide equal opportunities to public and private sector firms to participate in one of the country's most significant military projects.
The approval of the industry partnership model by defence minister Rajnath Singh came at a critical moment as HAL --- the sole manufacturer of fighter jets in the country --- was till then believed to be the frontrunner for the project.
While the model unlocks new possibilities for the local aerospace industry, including firms like Tata Advanced Systems Limited, Larsen & Toubro, Adani Defence and Aerospace and the Mahindra Group; HAL is still a strong contender for the project, as earlier reported by HT.
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Mazagon Dock, Garden Reach to HAL: Defence stocks crash up to 19% in just one month. Time to buy or steer clear?
Mazagon Dock, Garden Reach to HAL: Defence stocks crash up to 19% in just one month. Time to buy or steer clear?

Mint

timean hour ago

  • Mint

Mazagon Dock, Garden Reach to HAL: Defence stocks crash up to 19% in just one month. Time to buy or steer clear?

Defence stocks: After a sizzling rally between April and June in the wake of India's Operation Sindoor and growing order book, defence stocks have taken a back seat lately. The Nifty India Defence index has lost 11% in the last one month, with all 18 index constituents in the red. Many prominent and high-flying defence stocks like Cochin Shipyard, Garden Reach Shipbuilders, Mazagon Dock, Zen Technologies and Paras Defence, among others, have seen a high double-digit decline of 15-19% in their share prices in the last one month. Meanwhile, several other names like Hindustan Aeronautics (HAL), BEML and BEL are down 8-9% during this period. Analysts largely attribute the reversal in trend of the defence stocks to valuation concerns following a massive rally and weakness in the results performance in the ongoing June quarter earnings season. After sharp rallies in many names, investors have started booking profits. The pullback is a natural consolidation, not a capitulation, said Mihir Vora, CIO at TRUST Mutual Fund. According to Ajit Mishra of Religare Broking, this pullback in defence stocks is mainly driven by valuation concerns. The order book is there, which means execution becomes critical for them, said Mishra. Investors often value defence companies on the visibility of earnings over the next 3–5 years, so a strong order book improves confidence in revenue projections. But the order book isn't the only metric; investors also track how well the company executes those orders, as timely execution results in better revenue flows and margin. The order books for most of the defence companies remain strong with more than 3-5 years' worth, and new orders are likely to continue coming in, as per experts. According to data shared by Omniscience Capital, HAL has an order book of ₹ 1,89,300 crore as of FY25. Meanwhile, Nifty 50 company BEL's order book stands at upwards of ₹ 71,500 crore. Mazagon Dock Shipbuilders' order book stands at ₹ 32,000 crore as of FY25, while GRSE, Cochin Shipyard and BDL all have an order pipeline of over ₹ 22,000 crore each. "The long-term budget allocation clearly shows the defence budget is likely to increase at a much faster pace compared to GDP growth over the next 10 years, reaching 3%-4% of GDP. This is still small compared to 5% of GDP being targeted by NATO countries. However, one should not be pulled into the euphoria of growth and should be very focused on the growth vs valuation question as an investor," said Dr Vikas Gupta, CEO & Chief Investment Strategist at OmniScience Capital. While we expect double-digit growth, probably mid to high teens, for many companies for many years, this might still not justify the valuations for some of them, he added. Despite the recent fall, the Nifty India Defence index trades at 54.5x, the P/E ratio. At the same time, the P/E for the Nifty 50 index is 21.8x. Also, execution remains a concern for many companies. If they don't execute despite having order books, eventually, the valuations might turn out to be too high, Gupta opined. Moreover, he also pegs the turnaround in defence names on the not-so-exciting quarterly numbers from most of the companies and 'normalisation' after the extreme positive sentiments post Operation Sindoor and the subsequent interest globally for Indian Defence Products. Mazagon Dock, which reported a massive fall of 35% YoY to ₹ 452 crore in its net profit, saw massive selling today. The defence PSU stock declined by over 5%. Similarly, Bharat Electronics' share price declined over 2% in trade today after the Q1 results announcement yesterday. Zen Technologies, which reported an overall muted set of Q1FY26 numbers as a slowdown in OI momentum persists for a fifth quarter in a row, saw a target price cut by Nuvama to ₹ 1800 from ₹ 2,170 earlier. The company's revenue plunged 56% and PAT halved to ₹ 37.1 crore. Mishra of Religare Broking doesn't see any signs of reversal in the defence pack and said that there is a possibility that defence stocks would continue to be under pressure. "There could be intermediate bounds every now and then, but the trend looks sideways in many cases. As of now, one should not jump into a trade. Short-term investors should refrain from any aggressive buying, Mishra opined. However, long-term investors can selectively start accumulating quality names, he said. HAL, BDL and BEL are among the top stocks that Mihsra recommended. Vora of TRUST MF said that the long-term fundamentals — rising defence budgets, dual-use platform opportunities, and improving export arcs — remain intact for defence stocks, making stock selection critical now. He advised picking stocks with strong balance sheets, clear execution histories, and pipeline visibility. Meanwhile, Gupta of Omniscience Capital opined that investors should keep in mind that there are other dimensions of modern defence beyond the weapons, arms and ammunition. "In the modern geo-strategic defence playbook, key resources, oil & gas, critical and strategic minerals (including rare earth metals), sea lanes and merchandise routes and their security, presence in strategic ports or locations, economic warfare, and other similar assets play a strategic role and one should re-architect their defence portfolio for the long term to take exposure to these through undervalued stocks," he said. Disclaimer: This story is for educational purposes only. The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.

Bengaluru techie was mocked by interviewer: 'People like you won't make it to Google.' Her clapback has the internet's attention
Bengaluru techie was mocked by interviewer: 'People like you won't make it to Google.' Her clapback has the internet's attention

Economic Times

time2 hours ago

  • Economic Times

Bengaluru techie was mocked by interviewer: 'People like you won't make it to Google.' Her clapback has the internet's attention

Bengaluru techie working at Google was once mocked for her big dreams. (Istock- Image used for representative purpose only) A Bengaluru-based techie's job interview experience is striking a chord across the internet — and not just because of where she ended up. Arpita Das, a Software Engineer currently working at Google, took to X to share a bitter but ultimately satisfying story from her job hunt. In her post, she recalled being grilled by an interviewer from a mid-level startup during a system design round. He pushed her to estimate everything from CPU costs to infrastructure planning — practically everything except, as she joked, physically building the data centre. But what really stuck with her was what happened when she stumbled. According to Arpita, the interviewer smirked and said, 'This is why people like you won't make it to big companies like Google or Meta.' That sting didn't last long, though — today, she works at Google. — Arpitaaa01 (@Arpitaaa01) 'I'm not bragging,' she wrote. 'Just wondering why some folks gatekeep based on their own insecurities.' The post quickly gained traction, with people rallying behind her. One user cheekily asked where the interviewer works now. Arpita's reply? He's still at the same jumped in to share similar experiences and show support for Arpita. One user called her journey the best form of revenge, encouraging her to keep going strong. Another pointed out that when they conduct interviews, they focus on what they can learn from the other person, rather than trying to break them down. One particularly striking response came from someone who had also faced gender bias in the hiring process. She shared how a former interviewer doubted her ability to handle onsite work simply because she was a woman. Ironically, that interviewer was fired within a year and a half, while she went on to perform not just her own responsibilities, but his as well — and did a better job at story isn't just a personal win — it's a reminder of how far kindness and humility can go in an industry where gatekeeping and egos still often get in the per her X bio and LinkedIn, she is a graduate from VIT, with a in Computer Science. She joined Google just a couple of weeks back and shared a note on LinkedIn. Arpita Das shared that she has joined Google as an SDE II, where she's working on Gemini at Google DeepMind. She called it an incredible opportunity and is excited to be part of a team pushing the boundaries of AI, she said she's grateful to be learning from some of the best minds in the field.

Brigade Hotel Ventures IPO allotment date likely today. GMP, steps to check share allotment status online
Brigade Hotel Ventures IPO allotment date likely today. GMP, steps to check share allotment status online

Mint

time4 hours ago

  • Mint

Brigade Hotel Ventures IPO allotment date likely today. GMP, steps to check share allotment status online

Brigade Hotel Ventures IPO Allotment: The initial public offering (IPO) of hotels developer Brigade Hotel Ventures Ltd received decent response from investors. As the bidding period has now ended, focus now shifts towards Brigade Hotel Ventures IPO allotment date, which is expected to be soon. The public offering was open from July 24 to 28. Brigade Hotel Ventures IPO allotment date is likely today, 29 July 2025, and the tentative IPO listing date is July 31. Brigade Hotel Ventures is the hospitality arm of Brigade Enterprises, a Bengaluru-headquartered real estate developer. The company will finalise the basis of Brigade Hotel Ventures IPO allotment status soon. Once the Brigade Hotel Ventures IPO allotment status is fixed, the company will then credit the equity shares into the demat accounts of the eligible allottees on July 30, and initiate refunds to unsuccessful bidders on the same day. Investors can check Brigade Hotel Ventures IPO allotment status online through the websites of BSE and NSE, along with the official portal of the IPO registrar. Kfin Technologies is the Brigade Hotel Ventures IPO registrar. In order to check Brigade Hotel Ventures IPO allotment status online, investors must follow a few simple steps mentioned below: Step 2] Select 'Equity' in the Issue Type Step 3] Choose 'Brigade Hotel Ventures Limited' in the Issue Name dropdown menu Step 4] Enter either Application No. or PAN Step 5] Verify by ticking on 'I am not robot' and click on 'Search' Your Brigade Hotel Ventures IPO allotment status will be displayed on the screen. Step 2] Select 'Equity and SME IPO bids' Step 3] Choose 'Brigade Hotel Ventures Limited' from the Issue Name dropdown menu Step 4] Enter your PAN and Application Number Your Brigade Hotel Ventures IPO allotment status will be displayed on the screen. Step 1] Visit IPO registrar's website on this link - Step 2] Choose 'Brigade Hotel Ventures Limited' in the Select IPO dropdown menu Step 3] Select either Application No, Demat Account, or PAN Step 4] Enter the details as per the option selected Step 5] Enter the Captcha code and click on Submit Your Brigade Hotel Ventures IPO allotment status will be displayed on the screen. Brigade Hotel Ventures shares are showing a muted trend in the unlisted market, with no grey market premium (GMP). According to stock market experts, Brigade Hotel Ventures IPO GMP today is ₹ 0 per share. This indicates that in the grey market, Brigade Hotel Ventures shares are trading without any premium or discount to the issue price. Considering the Brigade Hotel Ventures IPO GMP today, the estimated listing price of Brigade Hotel Ventures shares would be ₹ 90 apiece, which is equivalent to its IPO price of ₹ 90 per share. The bidding for the issue commenced on Thursday, July 24, and concluded on Monday, July 28. Brigade Hotel Ventures IPO allotment date is likely today, 29 July 2025, while the IPO listing date is likely July 31. Brigade Hotel Ventures shares will be listed on both the stock exchanges - BSE and NSE. Brigade Hotel Ventures IPO price band was set at ₹ 85 to ₹ 90 per share. The company raised ₹ 759.60 crore from the book-building issue which was entirely a fresh issue of 8.44 crore equity shares. Brigade Hotel Ventures IPO has been subscribed 4.48 times in total, according to NSE data. The public issue was booked 6.40 times in the retail category, and 5.42 times in the Qualified Institutional Buyers (QIBs) category. The Non Institutional Investors (NII) segment received 1.92 times subscription. JM Financial is the book-running lead manager of the Brigade Hotel Ventures IPO, while Kfin Technologies is the IPO registrar. Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store