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Business Standard
27-05-2025
- Business
- Business Standard
Defence shares extend rally; GRSE, BEML, BDL gain up to 5% in weak market
Price movement of defence stocks today Shares of defence and its related companies were in demand, and rallied up to 5 per cent on the National Stock Exchange (NSE) in Tuesday's intra-day trade in an otherwise weak market. Garden Reach Shipbuilders & Engineers (GRSE), BEML, Bharat Dynamics (BDL), Mazagon Dock Shipbuilders (MDL), Cochin Shipyard, Hindustan Aeronautics (HAL), Apollo Micro Systems, Paras Defence and Space Technologies, Ideaforge Technology and Bharat Electronics were up in the range of 1 per cent to 5 per cent. The Nifty India Defence index hit a fresh 52-week high of 8,674.05 on the NSE in intra-day trade today. At 09:34 AM; Defence index, the top gainer among sectoral indices, was up 1.4 per cent, as compared to 0.70 per cent decline in the Nifty 50. Stock price of BDL, Data Patterns, Paras Defence zoom over 100% from 3-month lows Share prices of BDL, Data Patterns, GRSE and Paras Defence have seen their market price more-than-double and zoom up to 131 per cent from their respective three-month lows. Zen Technologies, Solar Industries, Mishra Dhatu Nigam, Astra Microwave, BEML, MDL, Ideaforge Technologies, HAL, BEL and Cochin Shipyard rallied between 65 per cent to 95 per cent. What's driving rally in defence stocks According to media reports, after Operation Sindoor, India's defence budget may receive an additional allocation of ₹50,000 crore under a supplementary budget. The boost will take overall defence allocation past ₹7 trillion for the financial year 2025–26. In the Union Budget presented on February 1, Finance Minister Nirmala Sitharaman had already earmarked a record ₹6.81 trillion for the armed forces. This marked a significant 9.2 per cent increase from the ₹6.22 trillion allocated in 2024–25. Meanwhile, the country is witnessing rapid import substitution, increased domestic production, and growing exports, leading to an inflow of higher indigenous orders to defence public sector undertakings (PSUs). Defence industry is advancing steadily towards self-reliance driven by government policies, the Defence Research and Development Organisation (DRDO) innovations and global collaborations. The country is witnessing a rapid import substitution, increased domestic production and growing exports. This push towards indigenization is expected to boost the earnings of both public and private defense companies as many defense public sector undertakings (PSUs) are witnessing good order inflows with higher indigenous percentages. With India achieving all its avowed strategic objectives, Operation Sindoor was an unqualified and unequivocal success; a success in which India's growing technological self-reliance played a pivotal role. Sector Outlook AatmaNirbhar Bharat initiative to boost defence manufacturing in India. The government emphasises on creating an environment to boost the AatmaNirbhar Bharat program in the defence sector and create a level-playing field for private players, including MSMEs, according to Mirae Asset Sharekhan. Further, the hike in foreign direct investment (FDI) to 74 per cent through the automatic route would boost investments. This is likely to boost investments in the space, as foreign players in the defence sector would look at setting up joint ventures to establish defence manufacturing bases in India, considering the ample opportunity with the opening up of the defence sector. The government has also established defence corridors in Tamil Nadu and Uttar Pradesh, which have helped reduce the import dependency, the brokerage firm said.
Time of India
25-05-2025
- Automotive
- Time of India
Telangana CM Revanth Reddy Requests 800 More Electric Buses After 2,000 Sanctioned Under PM e-DRIVE, ET Infra
Advt Telangana CM Revanth Reddy who met Union Minister for Heavy Industries and Steel H D Kumaraswamy in the national capital on Saturday expressed heartfelt gratitude to the Centre for sanctioning 2,000 electric buses to Hyderabad under the PM e-DRIVE scheme. Reddy urged Kumaraswamy to allocate 800 more Electric Buses (EVs) to to a press release issued by the Union Minister's office the Chief Minister also submitted a formal request for the allocation of additional electric buses, citing the growing urban mobility demands in Telangana and the need for cleaner, more efficient public transport said, "the Government of India is fully committed to building a cleaner, greener and future-ready mobility ecosystem. The 2,000 e-buses sanctioned to Hyderabad under the PM e-DRIVE scheme are a transformative step toward reducing urban pollution, modernising public transport and improving quality of life for citizens."The CM brought to the attention of Kumaraswamy that the retrofitting of state-run Road Transport Corporation (RTC) diesel buses is successful and the same vehicles are already plying in the CM appealed to the Union Minister to permit retro-fitting to the existing diesel buses, a state government release PM e-DRIVE scheme, launched by the Ministry of Heavy Industries, aims to deploy over 10,000 electric buses in major Indian cities, thereby advancing India's climate goals and enhancing last-mile scheme is aligned with the broader objectives of AatmaNirbhar Bharat and the National Electric Mobility Mission , it added.
Time of India
25-05-2025
- Automotive
- Time of India
Telangana CM thanks Kumaraswamy for sanctioning 2,000 e-buses, seeks 800 more
Telangana CM Revanth Reddy who met Union Minister for Heavy Industries and Steel H D Kumaraswamy in the national capital on Saturday expressed heartfelt gratitude to the Centre for sanctioning 2,000 electric buses to Hyderabad under the PM e-DRIVE scheme. Reddy urged Kumaraswamy to allocate 800 more Electric Buses (EVs) to Hyderabad. According to a press release issued by the Union Minister's office the Chief Minister also submitted a formal request for the allocation of additional electric buses, citing the growing urban mobility demands in Telangana and the need for cleaner, more efficient public transport solutions. Kumaraswamy said, "the Government of India is fully committed to building a cleaner, greener and future-ready mobility ecosystem. The 2,000 e-buses sanctioned to Hyderabad under the PM e-DRIVE scheme are a transformative step toward reducing urban pollution, modernising public transport and improving quality of life for citizens." The CM brought to the attention of Kumaraswamy that the retrofitting of state-run Road Transport Corporation (RTC) diesel buses is successful and the same vehicles are already plying in the city. The CM appealed to the Union Minister to permit retro-fitting to the existing diesel buses, a state government release said. The PM e-DRIVE scheme, launched by the Ministry of Heavy Industries, aims to deploy over 10,000 electric buses in major Indian cities, thereby advancing India's climate goals and enhancing last-mile connectivity. The scheme is aligned with the broader objectives of AatmaNirbhar Bharat and the National Electric Mobility Mission , it added.
The Print
25-05-2025
- Automotive
- The Print
Telangana CM thanks Kumaraswamy for sanctioning 2,000 e-buses, seeks 800 more
According to a press release issued by the Union Minister's office, the Chief Minister also submitted a formal request for the allocation of additional electric buses, citing the growing urban mobility demands in Telangana and the need for cleaner, more efficient public transport solutions. Hyderabad/New Delhi, May 25 (PTI) Telangana CM Revanth Reddy, who met Union Minister for Heavy Industries and Steel H D Kumaraswamy in the national capital, has thanked the Centre for sanctioning 2,000 electric buses to Hyderabad under the PM e-DRIVE scheme. Kumaraswamy said, 'The Government of India is fully committed to building a cleaner, greener and future-ready mobility ecosystem. The 2,000 e-buses sanctioned to Hyderabad under the PM e-DRIVE scheme are a transformative step toward reducing urban pollution, modernising public transport and improving quality of life for citizens.' The CM, on Saturday, brought to the attention of Kumaraswamy that the retrofitting of state-run Road Transport Corporation (RTC) diesel buses is successful, and the same vehicles are already plying in the city. The CM appealed to the Union Minister to permit retrofitting to the existing diesel buses, a state government release said. The PM e-DRIVE scheme, launched by the Ministry of Heavy Industries, aims to deploy over 10,000 electric buses in major Indian cities, thereby advancing India's climate goals and enhancing last-mile connectivity. The scheme is aligned with the broader objectives of AatmaNirbhar Bharat and the National Electric Mobility Mission, it added. PTI GDK SJR ADB This report is auto-generated from PTI news service. ThePrint holds no responsibility for its content.
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Business Standard
25-05-2025
- Automotive
- Business Standard
Telangana CM thanks Centre for sanctioning 2,000 e-buses, seeks 800 more
Telangana CM Revanth Reddy, who met Union Minister for Heavy Industries and Steel H D Kumaraswamy in the national capital, has thanked the Centre for sanctioning 2,000 electric buses to Hyderabad under the PM e-DRIVE scheme. Reddy urged Kumaraswamy to allocate 800 more Electric Buses (EVs) to Hyderabad. According to a press release issued by the Union Minister's office, the Chief Minister also submitted a formal request for the allocation of additional electric buses, citing the growing urban mobility demands in Telangana and the need for cleaner, more efficient public transport solutions. Kumaraswamy said, The Government of India is fully committed to building a cleaner, greener and future-ready mobility ecosystem. The 2,000 e-buses sanctioned to Hyderabad under the PM e-DRIVE scheme are a transformative step toward reducing urban pollution, modernising public transport and improving quality of life for citizens. The CM, on Saturday, brought to the attention of Kumaraswamy that the retrofitting of state-run Road Transport Corporation (RTC) diesel buses is successful, and the same vehicles are already plying in the city. The CM appealed to the Union Minister to permit retrofitting to the existing diesel buses, a state government release said. The PM e-DRIVE scheme, launched by the Ministry of Heavy Industries, aims to deploy over 10,000 electric buses in major Indian cities, thereby advancing India's climate goals and enhancing last-mile connectivity. The scheme is aligned with the broader objectives of AatmaNirbhar Bharat and the National Electric Mobility Mission, it added.
