Megha arm, CARACAL open small arms manufacturing facility in Hyderabad
Hyderabad: Megha Engineering & Infrastructures Ltd group company, ICOMM Tele Ltd, in collaboration with UAE-based small arms manufacturer
CARACAL
, which is part of EDGE Group, has kicked off a small arms manufacturing facility at ICOMM's integrated engineering facility in Hyderabad.
The exclusive facility has been set up as part of a transfer of technology (ToT) between CARACAL and ICOMM and marks the first ever ToT for defence articles from UAE to India. The new facility will serve as a local manufacturing hub for advanced weapons under a technology transfer agreement with the UAE-based player and will produce CAR 816 close-quarters battle rifle, CAR817 assault rifle, as well as CSR338, CSR 308, and CSR 50 bolt-action sniper rifles.
The facility will also make CMP9 submachine gun and Caracal EF and Caracal F Gen II combat pistols. The arms manufactured will cater to the
Indian armed forces
, central armed police forces (CAPFs), special forces, state police forces, and SPG, while also catering to the global export requirements of CARACAL.
ICOMM Tele Ltd managing director Sumanth Paturu said an investment of 200 crore was committed for the facility that covers infrastructure, technology transfer, assembly lines, and the upcoming underground shooting range. "This is a phase-wise investment, and we are fully prepared to scale further based on demand and future requirements from both domestic and global stakeholders," Paturu said.
by Taboola
by Taboola
Sponsored Links
Sponsored Links
Promoted Links
Promoted Links
You May Like
Trade Bitcoin & Ethereum – No Wallet Needed!
IC Markets
Start Now
Undo
He said the ICOMM-CARACAL has already completed multiple user trials with elite agencies like NSG, CRPF, and Indian Army. "While we are in advanced stages of discussions, we will continue to actively engage with the Indian armed forces, paramilitary units, and state police forces to pitch our full range of weapons," he said.
The pact between MEIL Group and CARACAL was inked in Oct 2022 at the DEFEXPO 2022 in Gandhinagar.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Mint
15 minutes ago
- Mint
Buy or sell: Vaishali Parekh recommends three stocks to buy today — 3 June 2025
Buy or sell stocks: After opening lower in the early morning session, the Indian stock market showed resilience and demonstrated a sharp recovery on Monday. The Nifty 50 index successfully defended the previous swing low of 24 462 established on 22 May 2025 and closed with a marginal loss 24,716. The BSE Sensex went off 77 points and closed at 81,373. The Bank Nifty index added 153 points and ended at 55,903. Broader market indices continued their outperformance trajectory, with the Small Cap index surging over 1%, while Nifty Bank reclaimed the psychologically significant 55900 level. The mid and small-cap segments reinforced their relative strength, advancing 0.62% and 1.19%, respectively, demonstrating sustained investor appetite for these market segments. Vaishali Parekh, Vice President—Technical Research at Prabhudas Lilladher, believes the Indian stock market sentiment will remain positive until the Nifty 50 index is above 24,500. The Prabhudas Lilladher expert said the key benchmark index is facing a hurdle at 25,000, and the 50-stock index may soon touch 25,500 once it breaks above 25,000 on a closing basis. Speaking on the outlook of the Nifty 50 today, Vaishali Parekh said, "The Nifty 50 index, after witnessing a huge gap down opening in the morning session, recovered significantly as the day progressed and closed on a flat note with overall bias sustained and as mentioned earlier, a decisive breach above the 25,000 zone shall confirm a breakout with upside targets of 25,500 and 26,300 levels achievable in the coming days. At the same time, on the downside, the 24,500 zone is positioned as the important and strong support level which needs to be sustained to maintain the overall bias intact." "The Bank Nifty index, after a long period of the rangebound session, has indicated a breakout closing wise above the tough resistance hurdle of 55,800 zones to strengthen the trend and can anticipate a further rise in the coming days and can trigger fresh upside targets of 57,700 and 60,300. The near-term support shall be maintained near the 54,500 zone as mentioned earlier, which needs to be sustained as of now," said Parekh. Parekh said that immediate support for Nifty today is placed at 24,600, while the resistance is seen at 24,900. The Bank Nifty would have a daily range of 55,600 to 56,600. Regarding stocks to buy today, Vaishali Parekh recommended buying these three buy or sell stocks: United Spirits, Harrisons Malayalam, and Lupin. 1] United Spirits: Buy at ₹ 1551, Target ₹ 1650, Stop Loss ₹ 1520; 2] Harrisons Malayalam: Buy at ₹ 220, Target ₹ 240, Stop Loss ₹ 210; and 3] Lupin: Buy at ₹ 1463, Target ₹ 1510, Stop Loss ₹ 1440. 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.
Mint
17 minutes ago
- Mint
Indian stock market: 7 key things that changed for market overnight - Gift Nifty, US PMI, weak dollar to gold prices
Indian stock market: The domestic equity benchmark indices, Sensex and Nifty 50, are expected to open higher on Tuesday, following gains in global markets. Asian markets traded higher, while the US stock market gained overnight, even as trade tensions continue to linger. On Monday, the Indian stock market ended the volatile session with minor losses, after staging a recovery from early declines. The Sensex fell 77.26 points, or 0.09%, to close at 81,373.75, while the Nifty 50 settled 34.10 points, or 0.14%, lower at 24,716.60. 'The Indian market is expected to continue its consolidation amid weak global cues, although downside may be limited due to strong domestic macros and a potential boost from the anticipated RBI repo rate cut,' said Siddhartha Khemka, Head - Research, Wealth Management, Motilal Oswal Financial Services Ltd. Here are key global market cues for Sensex today: Asian markets traded higher on Tuesday following overnight gains on Wall Street. Japan's Nikkei 225 rose 0.36%, while the broader Topix index was flat. Hong Kong's Hang Seng index futures indicated a flat opening. South Korean markets are closed for election day. Gift Nifty was trading around 24,866 level, a premium of nearly 40 points from the Nifty futures' previous close, indicating a positive start for the Indian stock market indices. US stock market ended higher on Monday amid optimism over trade talks between the United States and its trading partner. The Dow Jones Industrial Average gained 35.41 points, or 0.08%, to 42,305.48, while the S&P 500 rose 24.25 points, or 0.41%, to 5,935.94. The Nasdaq Composite closed 128.85 points, or 0.67%, higher at 19,242.61. Nvidia stock price gained 1.7%, Meta shares rose 3.6%, while Tesla share price fell 1.1%. Cleveland-Cliffs stock price surged 23%, while Ford shares declined 3.9% and General Motors stock price dropped 3.87%. US manufacturing contracted for a third straight month in May. The Institute for Supply Management (ISM) said its manufacturing PMI edged down to a six-month low of 48.5 last month from 48.7 in April. Economists polled by Reuters had forecast the PMI rising to 49.3. The dollar fell to a six-week low on signs of fragility in the US economy. The dollar index, which measures the US currency against six major peers, was little changed after touching 98.58, the lowest since late April, when it fell to a three-year trough. The greenback was at 142.71 yen, near a one-week low, Reuters reported. The euro was barely changed at $1.1446 after briefly touching a six-week high of $1.1454. Gold prices traded higher to hit a near four-week high amid a weaker dollar and rising safe-haven demand. Spot gold price rose 0.1% to $3,381.13 an ounce, after hitting its highest level since May 8 earlier in the session. The metal gained about 2.7% in the previous session. US gold futures gained 0.3% to $3,406.10. Crude oil prices rose on Tuesday on concerns about supply. Brent crude futures gained 0.80% to $65.15 a barrel, while US West Texas Intermediate crude prices rose 0.91% to $63.09 a barrel. Both contracts gained nearly 3% in the previous session. (With inputs from Reuters) 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.
Time of India
19 minutes ago
- Time of India
US commerce secretary Howard Lutnick expects India trade deal soon
US Commerce Secretary Howard Lutnick on Monday voiced optimism for a trade deal soon with India to avoid tariffs threatened by President Donald Trump . "You should expect a deal between the United States and India in the not too distant future," he told the US-India Strategic Partnership Forum , which promotes relations between the two countries, calling himself "very optimistic." Trump has set a delayed deadline of July 9 for countries to avoid sweeping tariffs, as he seeks to shake up the global economy to correct what he says is unfairness to the United States. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Encontre voos low-cost Voos | Anúncios de Pesquisa Saiba Mais Undo Lutnick, a strong advocate of tariffs, said he was a "great fan" of India -- but voiced longstanding concern about the emerging economy's use of tariffs. On tariff negotiations with India, "bringing them down to a level that is reasonable and appropriate so we can be great trading partners with each other, I think is absolutely on the table," Lutnick said. Live Events "There were certain things that the Indian government did that generally rubbed the United States the wrong way. For instance, they generally buy military gear from Russia ," he said. But he said that Trump believed in raising concerns and "the Indian government is addressing it specifically and directly."
