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Mint
2 hours ago
- Business
- Mint
Bharat Dynamics, HAL, BEML to Cochin Shipyard: Defence stocks surge on govt's ₹1.05 lakh crore procurement drive
Defence stocks such as Paras Defence, BEML, Hindustan Aeronautics, Bharat Electronics, and others rallied on Friday after the government approved acquisition of ₹ 1.05 lakh crore worth of new defence equipment. The gains in defence stocks lifted the Nifty Defence India index by 1.4%. Paras Defence and Space Technologies emerged as the top gainer among index constituents, surging 8%. Other gainers included Mishra Dhatu Nigam, Astra Microwave Products, BEML, Unimech Aerospace and Manufacturing, Cochin Shipyard, Bharat Dynamics, Garden Reach Shipbuilders & Engineers, Mazagon Dock Shipbuilders and BEL, all of which rose between 1-2% each. The Ministry of Defence's Defence Acquisition Council (DAC) on Thursday cleared capital acquisition proposals worth nearly ₹ 1.05 lakh crore. The 10 capital acquisition proposals are set to be carried out through indigenous sourcing from Indian companies. The Acceptance of Necessity (AoN) is for defence equipment like the procurement of Armoured Recovery Vehicles, an Electronic Warfare System, an Integrated Common Inventory Management System for the Tri-Services, and Surface-to-Air Missiles for the Indian Army, Navy, and Air Force. Defence stocks have been on a sharp upward trajectory, driven by the government's strategic focus on enhancing self-reliance in defence manufacturing and fostering domestic innovation. 'With strong structural tailwinds — including increased recognition of India's defence capabilities following recent geopolitical developments, rising global demand for defence exports, NATO's enhanced defence spending, Europe's rearmament plans, and the Indian government's ongoing push for indigenization — we maintain a positive outlook on the Indian defence sector,' said Krishna Doshi, Research Analyst at Ashika Institutional Equities Doshi highlighted several companies that are well-positioned to benefit from the government's latest defence procurement approvals worth ₹ 1.05 lakh crore. These include: Bharat Dynamics – A key player in missile manufacturing Bharat Electronics – A leader in radar systems and electronic warfare Cochin Shipyard – Expected to benefit from orders for underwater and autonomous vessels Mazagon Dock Shipbuilders – Active in building destroyers and mine countermeasure vessels Garden Reach Shipbuilders & Engineers – Likely to gain from patrol vessel contracts Other potential beneficiaries, according to Doshi, include Paras Defence & Space Technologies, Data Patterns, and Astra Microwave Products, which are positioned to tap into various niche opportunities within India's evolving defence ecosystem.
NDTV
17 hours ago
- Business
- NDTV
After Op Sindoor, Centre Clears Rs 1 Lakh Crore Missile, Weapons Purchases
New Delhi: The Defence Acquisition Council (DAC) on Thursday gave the go-ahead for 10 proposals to buy military hardware, including missiles and electronic warfare systems, worth approximately Rs 1.05 lakh crore through indigenous sourcing. The DAC works under the chairmanship of Defence Minister Rajnath Singh. The DAC gave its "Acceptance of Necessity (AoN) for the procurement of Armoured Recovery Vehicles, Electronic Warfare System, Integrated Common Inventory Management System for the Tri-Services and Surface-to-Air Missiles. These procurements will provide higher mobility, effective air defence, better supply chain management, and augment the operational preparedness of the Armed Forces", the Defence Ministry said in a statement. AoNs were also given for procurement of Moored Mines, Mine Counter Measure Vessels, Super Rapid Gun Mount and Submersible Autonomous Vessels. These procurements will enable the mitigation of potential risks posed to the naval and merchant vessels. To provide further impetus to indigenous design and development, AoNs were accorded under the Buy (Indian-Indigenously Designed Developed and Manufactured) category, the statement said. India's indigenous defence production has surged to an all-time high of Rs 1.46 lakh crore, with exports increasing to a record Rs 24,000 crore in 2024-25, according to Mr Singh. "Our defence production, which was only Rs 43,000 crore 10 to 11 years ago, has now crossed a record figure of Rs 1,46,000 crore, with the private sector's contribution of over Rs 32,000 crore. Our defence exports, which were around Rs 600-700 crore 10 years ago, have surpassed a record figure of Rs 24,000 crore today," the minister stated in his address at the Confederation of Indian Industry (CII) annual summit recently. He described the Make In India policy as crucial for security and prosperity, stating that the use of indigenous systems during 'Operation Sindoor' has proved that India has the power to penetrate any armour of the enemy. "Our weapons, systems, sub-systems, components, and services are reaching around 100 countries. Over 16,000 MSMEs, associated with the defence sector, have become the backbone of the supply chain. These companies are not only strengthening our self-reliance journey, but are also providing employment to lakhs of people," the minister said. He said the Advanced Medium Combat Aircraft (AMCA) programme execution model will open an opportunity for the private sector to participate in a mega defence project along with public sector companies for the first time, further bolstering the Make In India drive in the defence industry, he added.
Mint
17 hours ago
- Business
- Mint
Govt clears acquisition proposals for military goods worth ₹1.05 lakh crore
The Ministry of Defence's Defence Acquisition Council (DAC) on Thursday, 3 July 2025, cleared capital acquisition proposals worth nearly ₹ 1.05 lakh crore as the nation's military seeks to onboard new defence equipment. As per the official release, the 10 capital acquisition proposals are set to be carried out through indigenous sourcing from Indian companies. 'Defence Acquisition Council, under the chairmanship of Raksha Mantri Shri Rajnath Singh, on July 03, 2025, accorded Acceptance of Necessity (AoN) for 10 capital acquisition proposals amounting to approx. ₹ 1.05 lakh crore through indigenous sourcing,' said the Ministry of Defence in its official statement. The Acceptance of Necessity (AoN) or the need for these proposals is for defence equipment like the procurement of Armoured Recovery Vehicles, an Electronic Warfare System, an Integrated Common Inventory Management System for the Tri-Services, and Surface-to-Air Missiles. 'These procurements will provide higher mobility, effective air defence, better supply chain management and augment the operational preparedness of the Armed Forces,' said the Ministry of Defence in the official statement. The Defence Ministry also cleared the AoNs for the procurement of Moored Mines, Mine Counter Measure Vessels, Super Rapid Gun Mount and Submersible Autonomous Vessels, as the government seeks to mitigate the potential risks posed to the Naval and Merchant Vessels of India. 'To provide further impetus to indigenous design and development, AoNs were accorded under the Buy (Indian-Indigenously Designed Developed and Manufactured) category,' said the ministry. The Ministry of Defence in June 2025 was planning to review a ₹ 30,000 crore proposal to procure three regiments of the indigenous Quick Reaction Surface-to-Air Missile (QR-SAM) system for the Indian Army, according to Mint's earlier report. On 28 March 2025, the Cabinet Committee on Security (CCS) approved the biggest-ever deal to buy 156 Light Combat Helicopters worth over ₹ 62,000 crore for the Indian Army and Indian Air Force from Hindustan Aeronautics Ltd.
New Indian Express
17 hours ago
- Business
- New Indian Express
DAC clears ten capital acquisition proposals worth over Rs 1.05 lakh crore
NEW DELHI: Defence Acquisition Council (DAC) on July 3 granted Acceptance of Necessity (AoN) for 10 capital acquisition proposals aimed at strengthening the offensive and defensive capabilities of the Armed Forces. The Council meeting, chaired by Defence Minister Rajnath Singh, approved projects amounting to approximately. Rs 1.05 lakh crore and will be sourced indigenously. AoNs were accorded for the procurement of Armoured Recovery Vehicles, Electronic Warfare System, Integrated Common Inventory Management System for the Tri-Services and Surface-to-Air Missiles. The Ministry of Defence said, "These procurements will provide higher mobility, effective air defence, better supply chain management and augment the operational preparedness of the Armed Forces." AoNs were also accorded for the procurement of Moored Mines, Mine Counter Measure Vessels, Super Rapid Gun Mount and Submersible Autonomous Vessels. These procurements will enable mitigation of potential risks posed to the Naval and Merchant Vessels, MoD said.
The Hindu
17 hours ago
- Business
- The Hindu
Government clears indigenous defence procurement worth ₹1.05 lakh crore
The Defence Acquisition Council (DAC), chaired by Defence Minister Rajnath Singh, on Thursday (July 3, 2025) accorded Acceptance of Necessity (AoN) for 10 capital acquisition proposals valued at ₹1.05 lakh crore through indigenous sourcing. It was the first DAC meeting after Operation Sindoor to enhance capabilities of the armed forces. 'AoNs were accorded for procurement of Armoured Recovery Vehicles, Electronic Warfare System, Integrated Common Inventory Management System for the Tri-Services and Surface-to-Air Missiles,' said the Ministry of Defence in a statement. The agenda of the council's meeting was to enhance India's air defence capabilities along the Pakistan border. The procurement of indigenous Quick Reaction Surface-to-Air Missile (QRSAM) systems worth ₹30,000 crore for the Indian Army has been approved. These procurements will provide higher mobility, effective air defence, better supply chain management and augment the operational preparedness of the armed forces. 'AoNs were also accorded for procurement of Moored Mines, Mine Counter Measure Vessels, Super Rapid Gun Mount and Submersible Autonomous Vessels. These procurements will enable mitigation of potential risks posed to the Naval and Merchant Vessels,' the statement said. 'To provide further impetus to indigenous design and development, AoNs were accorded under the Buy (Indian-Indigenously Designed Developed and Manufactured) category,' it added.
