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Economic Times
2 days ago
- Business
- Economic Times
Defence stocks in focus as DAC clears capital acquisition proposals worth over Rs 1.05 lakh crore
Defence stocks will be in focus on Friday after the Defence Acquisition Council (DAC), chaired by Defence Minister Rajnath Singh, approved 10 capital acquisition proposals worth approximately Rs 1.05 lakh crore. ADVERTISEMENT All proposals were cleared under the 'Buy (Indian-IDDM)' category, promoting indigenously designed, developed, and manufactured systems to boost domestic defence production. According to the Ministry of Defence (MoD), the approvals include the procurement of Armoured Recovery Vehicles, Electronic Warfare Systems, Integrated Common Inventory Management Systems for the Tri-Services, and Surface-to-Air Missiles. These acquisitions aim to enhance mobility, strengthen air defence capabilities, and improve logistical efficiency for the Armed Forces. Also Read: Suzlon, Adani Ports among 10 stocks that earned upgrades in last 1 month. Check revised target price The DAC has also approved the procurement of Moored Mines, Mine Counter Measure Vessels, Super Rapid Gun Mounts, and Submersible Autonomous Vessels for the Navy. These systems are expected to enhance maritime safety by mitigating threats to naval and merchant ministry stated that the decision aligns with the government's focus on indigenisation and self-reliance in the defence sector. All proposals have been cleared under the 'Buy (Indian–Indigenously Designed, Developed and Manufactured)' category, ensuring the involvement of Indian vendors and promoting development within the domestic defence ecosystem. ADVERTISEMENT Also Read: 10 Nifty smallcaps with up to 29 buy calls; analysts see up to 26% upside (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times) (You can now subscribe to our ETMarkets WhatsApp channel)
Economic Times
2 days ago
- Business
- Economic Times
Defence Acquisition Council clears 10 capital acquisition proposals worth over Rs 1.05 lakh cr
Defence Minister Rajnath Singh Synopsis The Defence Acquisition Council approved Acceptance of Necessity for 10 capital acquisition proposals worth Rs 1.05 lakh crore, prioritizing indigenous defence manufacturing. Approvals include Armoured Recovery Vehicles, Electronic Warfare Systems, and Surface-to-Air Missiles to enhance mobility and air defence. The DAC also cleared procurement for the Navy, strengthening maritime safety through indigenously developed systems. The Defence Acquisition Council (DAC), chaired by Defence Minister Rajnath Singh, on Thursday approved Acceptance of Necessity (AoN) for 10 capital acquisition proposals worth approximately Rs 1.05 lakh crore. All proposals have been cleared under the 'Buy (Indian-IDDM)' category to promote domestic defence manufacturing. ADVERTISEMENT According to the Ministry of Defence (MoD), the approvals include procurement of Armoured Recovery Vehicles, Electronic Warfare Systems, Integrated Common Inventory Management Systems for the Tri-Services, and Surface-to-Air Missiles. These acquisitions are aimed at enhancing mobility, air defence capabilities, and improving logistical efficiency for the Armed Forces. The DAC has also given nod to the procurement of Moored Mines, Mine Counter Measure Vessels, Super Rapid Gun Mounts, and Submersible Autonomous Vessels for the Navy. These systems are expected to strengthen maritime safety by reducing threats to naval and merchant vessels. The ministry stated that the decision aligns with the government's focus on indigenisation and self-reliance in the defence sector. All proposals have been cleared under the Buy (Indian–Indigenously Designed Developed and Manufactured) category, ensuring involvement of Indian vendors and encouraging development within the domestic defence ecosystem. (You can now subscribe to our Economic Times WhatsApp channel) (Catch all the Business News, Breaking News, Budget 2025 Events and Latest News Updates on The Economic Times.) Subscribe to The Economic Times Prime and read the ET ePaper online. NEXT STORY
Time of India
2 days ago
- Business
- Time of India
DAC approves defence procurement proposals worth Rs 1.05 lakh crore under ‘Buy Indian-IDDM'
The Defence Acquisition Council (DAC), chaired by Defence Minister Rajnath Singh , on Thursday approved Acceptance of Necessity (AoN) for 10 capital acquisition proposals worth approximately Rs 1.05 lakh crore. All proposals have been cleared under the 'Buy (Indian-IDDM)' category to promote domestic defence manufacturing. According to the Ministry of Defence (MoD), the approvals include procurement of Armoured Recovery Vehicles , Electronic Warfare Systems , Integrated Common Inventory Management Systems for the Tri-Services, and Surface-to-Air Missiles . These acquisitions are aimed at enhancing mobility, air defence capabilities, and improving logistical efficiency for the Armed Forces. The DAC has also given nod to the procurement of Moored Mines, Mine Counter Measure Vessels, Super Rapid Gun Mounts, and Submersible Autonomous Vessels for the Navy. These systems are expected to strengthen maritime safety by reducing threats to naval and merchant vessels. The ministry stated that the decision aligns with the government's focus on indigenisation and self-reliance in the defence sector. All proposals have been cleared under the Buy (Indian–Indigenously Designed Developed and Manufactured) category, ensuring involvement of Indian vendors and encouraging development within the domestic defence ecosystem.
