Latest news with #MineCounterMeasureVessel
Business Upturn
3 days ago
- Business
- Business Upturn
Defence stocks jump: Paras Defence up 6%, Apollo Micro up 2.4%, HAL up 0.6%, GRSE up 1.7% as DAC clears Rs 1.05 lakh crore proposals
By Aditya Bhagchandani Published on July 4, 2025, 09:34 IST Defence stocks were in focus on Friday after the Defence Acquisition Council (DAC), chaired by Defence Minister Rajnath Singh, approved proposals worth ₹1.05 lakh crore to bolster India's tri-services capabilities through indigenous procurement. At the time of reporting: Paras Defence and Space Technologies surged nearly 6% , buoyed by its stock split and the sectoral sentiment. Apollo Micro Systems gained over 2.4% on the BSE. Hindustan Aeronautics Limited (HAL) advanced about 0.6% , reflecting optimism on higher defence orders. Garden Reach Shipbuilders & Engineers (GRSE) rose about 1.7%, benefiting from revived Navy projects. Stock Price (BSE) Change (%) Paras Defence and Space Tech ₹899.50 +5.97% Apollo Micro Systems ₹192.35 +2.45% Hindustan Aeronautics (HAL) ₹4,960.00 +0.60% Garden Reach Shipbuilders (GRSE) ₹2,991.30 +1.68% Bharat Electronics (BEL) ₹431.50 +1.26% Bharat Dynamics (BDL) ₹1,987.70 +1.16% Cochin Shipyard ₹2,046.55 +1.55% Mazagon Dock Shipbuilders ₹3,320.00 +0.99% Data Patterns ₹2,981.50 +0.50% IdeaForge Technology ₹580.85 +1.72% On Thursday, the DAC accorded 'Acceptance of Necessity' for ten proposals, which include the revival of the ₹44,000 crore Mine Counter Measure Vessel (MCMV) project for the Navy, procurement of Quick Reaction Surface-to-Air Missiles (QRSAMs) for the Army at an estimated ₹30,000 crore, and acquisition of I-STAR aircraft for the Air Force. These initiatives are expected to enhance mobility, air defence, surveillance and supply chain resilience for the Armed Forces, while also strengthening the government's 'Make in India' agenda through partnerships with players such as BEL, BDL, L&T, and others. The sentiment was also supported by improving order visibility for the domestic defence sector amid the Ministry of Defence's continued emphasis on indigenous manufacturing. Ahmedabad Plane Crash Aditya Bhagchandani serves as the Senior Editor and Writer at Business Upturn, where he leads coverage across the Business, Finance, Corporate, and Stock Market segments. With a keen eye for detail and a commitment to journalistic integrity, he not only contributes insightful articles but also oversees editorial direction for the reporting team.
Business Upturn
3 days ago
- Business
- Business Upturn
Why are Paras Defence shares up 6% today? Explained
By Aditya Bhagchandani Published on July 4, 2025, 09:32 IST Shares of Paras Defence and Space Technologies Ltd. surged nearly 7% on Friday, July 4, after the stock began trading ex-split, adjusted for its stock split announced earlier this year. The company had declared on April 30 that it would split one equity share of face value ₹10 into two shares of ₹5 each. This was Paras Defence's first-ever stock split, aimed at improving liquidity and making the stock more affordable to retail investors. The record date for the split was set as July 4, meaning shareholders holding the stock as of Thursday's close are eligible for the split. Those buying shares today will not qualify. Stock splits increase the number of shares outstanding while lowering the price per share, without impacting the company's overall market capitalization — generally improving retail participation and trading activity. In an earlier interaction with CNBC-TV18, Amit Mahajan of Paras Defence clarified that the company's exposure to Israel is focused more on technology transfer rather than exports, with Israel-related revenues contributing just about 5%. He also said he does not foresee any significant supply chain disruptions due to ongoing regional tensions. Defence Acquisition Council clears ₹1.05 lakh crore proposals post Operation Sindoor Adding further momentum to the defence sector sentiment, the Defence Acquisition Council (DAC), chaired by Defence Minister Rajnath Singh, on Thursday cleared 10 proposals worth ₹1.05 lakh crore aimed at strengthening the tri-services' capabilities through indigenous procurements. 'These procurements will provide higher mobility, effective air defence, better supply chain management and augment the operational preparedness of the Armed Forces,' the Ministry of Defence (MoD) said. Key approvals include: Indian Navy's ₹44,000 crore Mine Counter Measure Vessel (MCMV) project revived, to locate and neutralize mines threatening naval and merchant vessels. Additional Navy projects: procurement of moored mines, Super Rapid Gun Mounts, and Submersible Autonomous Vessels. Indian Army's ₹30,000 crore QRSAM air defence system , developed by DRDO, capable of launching six canisterised missiles on the move. Production partners include BEL, BDL, and L&T. Procurement of Armoured Recovery Vehicles (ARVs) for the Army to operate in challenging terrains. Approval for the Indian Air Force to procure 3 I-STAR aircraft , equipped for intelligence, surveillance, and precision targeting. Other programs include an Integrated Common Inventory Management System for the Tri-Services. The MoD emphasized that all proposals were approved under the Buy (Indian–Indigenously Designed, Developed and Manufactured) category, reinforcing the government's push for self-reliance in defence manufacturing. The twin tailwinds of Paras Defence's stock split and the robust pipeline of indigenous defence projects have drawn investor attention to the stock and the broader sector today. Ahmedabad Plane Crash Aditya Bhagchandani serves as the Senior Editor and Writer at Business Upturn, where he leads coverage across the Business, Finance, Corporate, and Stock Market segments. With a keen eye for detail and a commitment to journalistic integrity, he not only contributes insightful articles but also oversees editorial direction for the reporting team.
