Latest news with #QRSAMs
Business Upturn
a day 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.
Time of India
a day ago
- Business
- Time of India
Spy planes, minesweepers: Nod for 1L crore purchases
AI generated image for representation NEW DELHI: The defence ministry gave preliminary nod Thursday to three major acquisition projects and seven smaller ones, collectively worth over Rs 1 lakh crore, ranging from specialised spy aircraft and advanced minesweepers to quick-reaction air defence missiles and underwater autonomous vessels. The biggest project to get "acceptance of necessity" (AoN), which is just the first step in the long-winded procurement process, was for the indigenous construction of 12 mine countermeasure vessels for around Rs 44,000 crore, which will take almost a decade, sources told TOI. These specialised warships, each with a displacement of 900-1,000 tonne, will be capable of detecting, tracking and destroying underwater mines laid by enemy forces to choke harbours and ports, disrupt shipping and maritime trade. QRSAMs designed to intercept hostile fighters These specialised warships are crucial amid the expanding maritime collaboration between China and Pakistan. At present, the Navy makes do with just "clip-on mine countermeasure suites" mounted on some ships to plug the major capability gap. The second big project was the Rs 36,000 crore procurement of the new quick-reaction surface-to-air missile (QRSAM) systems developed by DRDO , with three regiments for the Army and three squadrons for IAF. Overall, the Army Air Defence has projected a requirement of 11 such regiments. These highly mobile QRSAMs, designed to intercept hostile fighters, helicopters and drones at ranges up to 30km, will add to the country's multilayered air defence network that played a crucial role in thwarting multiple waves of Turkish-origin drones and Chinese missiles launched by Pakistan during Operation Sindoor May 7-10 hostilities. The third major project was for three ISTAR (intelligence, surveillance, target acquisition & reconnaissance) planes, designed to identify and help target high-value enemy targets on ground with greater precision and accuracy by fighter jets & missiles, for around Rs 10,000 crore. These aircraft will be equipped with a wide array of indigenous sensors & systems developed by DRDO, like synthetic aperture radars, electro-optical and infrared sensors, for gathering "actionable intelligence" in real time on enemy infrastructure, build-ups and movements. Another project granted AoN was for semi-submersible autonomous vessels for ISR missions. They will be acquired under 'Make-II' category project, where prototype development is funded by the industry. AoNs were accorded for procurement of armoured recovery vehicles, electronic warfare systems and tri-Service integrated common inventory management system for better supply chain management.
