Latest news with #Anti-SubmarineWarfare
India Gazette
13 hours ago
- General
- India Gazette
Indian Navy to Commission 1st ASW Shallow Water Craft, Arnala on June 18; CDS Gen Anil Chauhan to preside
New Delhi [India], June 9 (ANI): The Indian Navy is set to commission its first Anti-Submarine Warfare (ASW) Shallow Water Craft, Arnala, at Visakhapatnam Naval Dockyard, on June 18, 2025. The ship's crest features a stylized Auger Shell, symbolizing resilience, vigilance, and dominance in challenging environments. The Chief of Defence Staff, Gen Anil Chauhan, will preside over the ceremony. As per the release, the Vice Adm Rajesh Pendharkar, Flag Officer Commanding-in-Chief, Eastern Naval Command, will host the ceremony, which will be attended by senior naval officials, distinguished guests, and representatives from the shipbuilders and various other agencies associated with its construction. The ship's motto, 'arnnve shaurym' (Arnave Shauryam), meaning 'Valour in the Ocean,' embodies the crew's unwavering courage and strength in the face of challenges at sea. This motto serves as a constant inspiration for the crew to remain steadfast and fearless. Inscribed in Devanagari script, the ship's name, Arnala, is set against a blue backdrop, representing the ocean. The event marks the formal induction of the first of the sixteen ASW-SWC class ships into the Indian Navy. Designed and constructed by M/s Garden Reach Shipbuilders & Engineers (GRSE), Kolkata, under a Public-Private Partnership (PPP) with M/s L&T Shipbuilders, Arnala is a testament to the success of the Aatmanirbhar Bharat initiative in defence manufacturing, according to the release. Constructed under the guidance of the Directorate of Ship Production and the oversight of the Warship Overseeing Teams in Kolkata and Kattupalli, Arnala was delivered to the Indian Navy on May 8. Named after the historic Arnala Fort off Vasai, Maharashtra, the warship reflects India's rich maritime heritage. Much like the fort, which stood resiliently against various threats, the ship is designed to have a formidable presence at sea. Its robust construction and advanced capabilities ensure that it can withstand the challenges of the maritime domain, safeguarding India's waters from emerging threats. The Ship's Crest is a powerful emblem that encapsulates the spirit and mission of this formidable naval vessel. At its heart is a stylised Auger Shell, a striking symbol set against a deep blue backdrop, evoking the vast, untamed ocean. The Auger Shell, with its spiralled, reinforced structure and precision tip, is no mere decorative element--it represents resilience, vigilance, survival, and dominance in the harshest of environments. Much like the shell, the ship is engineered to endure the ocean's relentless forces, executing flawless anti-submarine operations with pinpoint accuracy, delivering ordnance on target with unmatched precision. The ship's name, inscribed in the elegant Devanagari script at the base of the crest, anchors this imagery with cultural pride and identity. The warship incorporates more than 80% indigenous content and integrates advanced systems from leading Indian defence firms, including Bharat Electronics Limited (BEL), L&T, Mahindra Defence, and MEIL. The project has engaged over 55 Micro, Small, and Medium Enterprises (MSMEs), promoting domestic industry and generating related economic activity. Designed for a range of ASW operations, Arnala is equipped to conduct Subsurface Surveillance, Search and Rescue missions, and Low-Intensity Maritime Operations. This 77.6 m long warship, with a gross tonnage of over 1490 tonnes, is the largest Indian Naval warship propelled by a Diesel Engine-Waterjet combination. The commissioning of Arnala will mark a transformative moment in India's naval capabilities, strengthening coastal defence and reaffirming India's position as a self-reliant maritime power in the strategically vital Indian Ocean Region. (ANI)
The Hindu
23-05-2025
- Business
- The Hindu
Kolkata-based GRSE emerges lowest bidder for Next Gen Corvettes to Navy
Kolkata-based Garden Reach Shipbuilders and Engineers (GRSE) Ltd. has emerged as the lowest bidder for the construction of Next Generation Corvettes (NGC) for the Indian Navy, the defence shipyard announced. 'The shipyard participated in the competitive bidding process and has emerged as lowest bidder. GRSE will thus be awarded the contract to build five NGCs at an estimated cost of approximately ₹25,000 crore,' GRSE said in a statement on Thursday (May 23, 2025). These Next-Generation Corvettes shall be capable of fulfilling the roles of Offensive Surface to Surface missile attack, anti-missile defence, surface action groups for maritime strikes, Anti-Submarine Warfare (ASW) and many other maritime operations, it stated. The warship will also incorporate green warship design features, energy efficient and environment friendly technologies, the shipyard said. GRSE is already building four Next Generation Offshore Patrol Vessels for the Navy, apart from three advanced guided missile frigates, eight ASW shallow water crafts of which one has already been delivered to the Navy and four Survey Vessels (Large) of which two have been delivered. Ocean-Going Tug for Bangladesh stands cancelled: GRSE Meanwhile, an order for an Ocean-Going Tug for Bangladesh stands cancelled based on mutual discussions between GRSE and the Customer, GRSE said. 'This order though would not have impact on GRSE's finances as the order is worth only US$ 21 million (approximately ₹179.75 crore) and would have contributed a mere 0.8% to GRSE's existing order book of ₹22,680.75 crore as on March 31, 2025.' GRSE has delivered 111 warships both within India and to friendly foreign nations, including six Missile Corvettes, Khukri and Kora Class, and four Kamorta-class ASW Corvettes.
Business Upturn
09-05-2025
- Business
- Business Upturn
Stocks to watch on May 9: Titan, BPCL, L&T, Biocon, MCX among key movers in trade today
Equity markets will be tracking a range of corporate announcements and quarterly earnings today. Several major companies across sectors have reported their March quarter results, while others have announced business developments or regulatory approvals. Here are the key stocks in focus on May 9: Titan Company surprised positively on the margin front in its latest earnings report and also unveiled a succession plan, which could have implications for leadership continuity and investor sentiment. Bharat Petroleum Corporation Ltd (BPCL) has bagged a contract to set up a 100 MW wind energy project, with 50 MW capacity each in Madhya Pradesh and Maharashtra. Larsen & Toubro (L&T) posted a March quarter performance that was broadly in line with market estimates. The engineering and construction major also issued a positive guidance for FY26, despite coming off a high base. Biocon delivered a better-than-expected Q4 performance, led by a 46% year-on-year growth in revenues from its generics business. Pidilite Industries reported results largely in line with analyst expectations. The company registered a healthy underlying volume growth of 9.8%. Britannia Industries exceeded Q4 estimates, although its volume growth stood at 3%, falling short of the expected 5–6%. Jindal Stainless posted earnings that were largely in line with analysts' expectations. The company also reported a decline in net debt, which could improve its financial profile going forward. Kalyan Jewellers reported a 35% year-on-year rise in EBITDA, while revenue increased 36.6% in the same period. Lupin received final approval from the US Food and Drug Administration (US FDA) for Raltegravir, a drug used in the treatment of HIV, under the ANDA route. Brigade Enterprises has acquired an 11-acre land parcel in Whitefield, Bengaluru. The estimated gross development value of the project is ₹2,000 crore. REC Ltd. reported a 37.6% increase in net interest income (NII), while net profit rose 5.5% year-on-year. Zee Entertainment saw a 42% jump in EBITDA during the quarter, with margins improving to 13.6% compared to 9.7% a year ago. Garden Reach Shipbuilders & Engineers delivered an Anti-Submarine Warfare (ASW) Shallow Water Craft to the Indian Navy, marking a key milestone in its defence production timeline. Union Bank of India reported a modest year-on-year increase in NII. Its asset quality showed improvement, with net non-performing assets (NPA) dropping to 0.63% from 0.82% on a sequential basis. Dilip Buildcon reported a significant improvement in operating performance. EBITDA rose to ₹660.8 crore from ₹329.8 crore in the year-ago period, with margins expanding from 9.8% to 21.3%. Zydus Lifesciences secured final US FDA approval for Glatiramer Acetate, a drug indicated for the treatment of multiple sclerosis. On the other hand, a few stocks may remain under pressure due to weak earnings: Multi Commodity Exchange (MCX) missed street expectations in its Q4 earnings. Margins contracted sharply by 909 basis points on a quarter-on-quarter basis. Sula Vineyards reported a 3.4% decline in EBITDA for the March quarter, with margins slipping to 22.6% from 24% in the year-ago period. Vesuvius India saw its EBITDA drop by 14% in Q1CY25. Margins also narrowed to 17% from 21% a year earlier. IIFL Finance reported a sharp 76.7% fall in net profit and a 40% drop in NII on a year-on-year basis. Chambal Fertilisers posted a 7.4% decline in revenue and a 1.9% fall in EBITDA compared to the previous year. Aarti Industries reported a 5.3% drop in EBITDA for the quarter, with operating margins compressing to 13.8% from 16% year-on-year. Disclaimer: This article is for informational purposes only and should not be construed as investment advice. Business Upturn does not recommend buying or selling any financial instruments. Please consult a certified financial advisor before making investment decisions.
