Latest news with #Sindoor
Time of India
2 hours ago
- Business
- Time of India
₹1,700 Cr Sell-Off: Is India's Defence Boom Overheating?
India's defence stocks are flashing red. Mutual funds have offloaded a massive ₹1,700 crore across top names like Solar Industries, Bharat Forge, Zen Technologies, and more, signaling deep concerns over valuation and execution a 3-month rally of up to 84% post-Operation Sindoor, the sector is now facing a reality check. Even institutional bulls like Kotak AMC and Motilal Oswal are tapping the brakes. So, is the defence dream fading — or just recalibrating?In this video, we break down:Why mutual funds are exitingWhich stocks are under pressureWhat experts like Vikas Khemani and Ambareesh Baliga are warningThe long-term opportunity still intactShould you sell, hold, or SIP into defence now? Let's decode. Show more Show less
India Today
8 hours ago
- Business
- India Today
Op Sindoor drives BrahMos demand, Lucknow titanium plant joins supply chain
India's supersonic BrahMos missile has gained fresh momentum after Operation Sindoor dealt a decisive blow to terror and military bases inside Pakistan and Pakistan-Occupied-Kashmir (POK). Defence Minister Rajnath Singh has confirmed that more than 14 countries have now expressed interest in acquiring the powerful missile system, which is jointly developed by India and response to this growing demand, a new BrahMos manufacturing facility was inaugurated in Uttar Pradesh's Lucknow shortly after Operation Sindoor. The city's contribution to India's missile capability has received a significant boost with PTC Industries Limited emerging as the country's first private manufacturer of titanium and superalloy components — crucial materials for missiles, submarines, and this breakthrough, India has become the sixth nation in the world with the capacity to produce these advanced materials, joining the ranks of the United States, Russia, France, the United Kingdom, and China. The facility is part of the ambitious Uttar Pradesh Defence Industrial Corridor, under which more than seven defence industries have already begun operations. PTC's Lucknow plant has now started supplying titanium raw material and precision components for BrahMos. Titanium's high strength-to-weight ratio and ability to withstand extreme heat make it indispensable for aerospace and defence Agarwal, CMD of PTC Industries, highlighted that India had previously relied on imports for such critical inputs. "Earlier, we had depended on other countries for key components in aircraft and submarines. Now, India can produce them domestically. This closes a crucial gap and ensures no nation can blackmail us when we need these supplies the most," Agarwal is also producing alloys for global aerospace majors, including Dassault Aviation for the Rafale fighter push for indigenous defence manufacturing has gained urgency as India looks to reduce reliance on foreign suppliers, a need amplified by supply chain disruptions during the Russia-Ukraine conflict. The chiefs of India's armed forces have repeatedly underlined that future wars will be fought with homegrown weapons and Sindoor not only marked BrahMos's combat debut but also served as a demonstration of India's indigenous defence capabilities to the world. To meet the rising demand, a new strategic materials complex with four specialised units was inaugurated last month alongside the BrahMos production line in integrated complex includes a primary metals facility for producing titanium and superalloy ingots, a large-scale casting unit, a forging plant for critical parts, and a precision machining centre for aerospace components such as jet engine blades and missile parts.- EndsTune InMust Watch
Time of India
a day ago
- Business
- Time of India
Nifty may hit 26,889 in a year: PL Capital's top 17 stock ideas to ride the rally
Domestic brokerage firm PL Capital projects a significant rally for the Nifty, anticipating it could reach up to 26,889 within the next 12 months. This optimistic outlook is primarily underpinned by the expected outperformance of domestic-oriented sectors, signalling a strong belief in India's internal economic recovery. Additionally, the brokerage firm has highlighted ICICI Bank , Bharti Airtel , IRCTC and Samhi Hotels among 17 of their top large, small and midcap picks. 'We believe that domestic-oriented sectors like Domestic Pharma, select staples, Banks, capital goods, defence, and power will outperform in the near term,' the report said. Meanwhile, PL Capital's Bull case scenario projects a rally in Nifty up to 28,957, up from an earlier estimate of 27,590. According to PL Capital, Indian markets have demonstrated a lot of resilience in the past few months despite big events and disruptions around global tariff wars, Israel-Iran war and operation Sindoor. While acknowledging that FIIs remain net sellers year-to-date, despite turning net buyers in recent weeks, the firm notes that markets appear to have adapted to global volatility and adverse geopolitical developments. Investors seem to be factoring in the unpredictability of U.S. tariff policies, fluctuating crude prices, and shifting global political dynamics. PL Capital also points out that the "India-US trade deal remains a WIP with issues around agriculture, dairy, GM crops and labour-intensive industries, with no easy solution to these long-pending issues." The firm highlights that the first quarter of the fiscal year has also seen the front-ending of the government Capex with a growth of 61% and 39% in April and May, indicating a momentum in ordering and a significant pick-up in defense expenditure. Further, PL Capital notes that the "RBI has cut the repo rate by 100bps and has plans to reduce CRR by 100bps in a gradual manner." This strategic move, according to PL Capital, will help improve the liquidity in the system and improve credit growth, which was just 9.5% in 1Q26. Also read: HDFC Bank to consider first-ever bonus share issue on July 19 All eyes rest on the revival of consumption demand, as stated by PL Capital. This revival is expected to be buoyed by various factors like: Normal monsoons Multi-year low food inflation Cut in interest rates and CRR, and The benefits of tax cuts in the FY26 budget. PL Capital noted that 1Q26 has shown a mixed trend with stable demand and no major acceleration. Looking ahead, the brokerage firm concludes that the upcoming festival season and spatial distribution of monsoons hold the key to broad-based demand revival. With this, PL Capital has highlighted the following stocks as its top picks: Large Cap Stocks ABB India, Apollo Hospitals Enterprise , Bharti Airtel, Hindustan Aeronautics , ICICI Bank, InterGlobe Aviation , ITC , Kotak Mahindra Bank, Lupin , Titan Company . Mid/Small Cap Stocks Astral Ltd. , Crompton Greaves Consumer Electricals , Ingersoll-Rand (India), Indian Railway Catering and Tourism Corporation (IRCTC), KEI Industries , Samhi Hotels, Triveni Turbine.
India Today
2 days ago
- Business
- India Today
Turkey, Pak revise $900-million drone deal after setback against India
In a bid to explore more advanced UAV systems to improve precision-strike and surveillance capabilities, Turkey and Pakistan are restructuring a USD 900 million drone deal following operational failures against India during Operation Sindoor, sources new arrangement seeks to boost both countries' drone and munition capabilities with advanced systems. The revised deal is expected to address previous shortcomings and enhance military told India Today that representatives from both nations have met multiple times post-Operation Sindoor to address deficiencies in their military equipment. The Indian air defence system thwarted drone attacks by Pakistan in the aftermath of the May 7 Operation Sindoor precision strikes against Pak terror launch pads. Most of these drones were obtained by Pakistan from Turkey and China, putting the effectiveness of these devices under Baykar, a prominent drone manufacturer, is at the centre of these discussions, aiming to supply enhanced drones and munitions. The collaboration is seen as a strategic move to fortify defence ties between the two recently conducted successful tests of its KEMANKE 1 AI-powered mini smart cruise missile, demonstrating precision-strike tests took place in orlu and Kean, in the Turkish provinces of Tekirda and Edirne, showcasing the missile's effectiveness against airborne and ground targets. The success of these tests is crucial for Turkey's defence industry, highlighting its growing previous deployment of Turkish YIHA drones by Pakistan against India was unsuccessful, as these drones were neutralised by Indian air defence systems. The failure has led the two countries to a reassessment of tactics and to information, the revised agreement will include Bayraktar TB2 and AKINCI UAVs, alongside over 700 Turkish-made loitering munitions. These kamikaze drones are intended to enhance Pakistan's military operational early July, high-level discussions were held in Islamabad involving Turkish Foreign Minister Hakan Fidan, Defence Minister Yasar Guler, and top Pakistani officials, including Prime Minister Shehbaz Sharif and Field Marshal General Asim talks focused on strengthening military cooperation and intelligence sharing. The meetings underscored the importance of strategic alignment between the two to Indian intelligence agencies, the discussions revealed intentions of aligning efforts against India within the regional power military synergy is also part of broader efforts to elevate bilateral trade between Turkey and Pakistan to USD 5 billion by the end of 2025.- EndsMust Watch
Hans India
2 days ago
- General
- Hans India
Railway Board finds defence wagons data mismatch
New Delhi: During a post-operation Sindoor exercise to ascertain the exact number of defence wagons, the Railway Board found inaccuracies between the online wagon management system and physical records, following which it has decided to conduct a census on July 15 and 16. Defence wagons are specially designed coaches to transport defence personnel, equipment and other supplies. Officials said that almost a fortnight after the Operation Sindoor, MilRail (which is a specialised wing of the Railway Ministry that sits at Army Headquarters) and Ministry officials held a meeting to ascertain the total number of defence wagons kept at various locations across the country. 'During meeting held with ED (Executive Director) MilRail on 23.05.2025, at Railway Board, it was observed that there is a mismatch between the data available in IRFMM (Indian Railways Freight Maintenance Management) and that available with MilRail office, pertaining to population of MilRail wagons,' a Railway Ministry's circular dated July 10, 2025, addressed to all its zones, said. 'It has therefore been decided to conduct a physical census of MilRail wagons over Indian Railways and Defence Sidings to reconcile this data,' it added. The census will commence on 15th July 2025 and should be completed by 16th July 2025, the circular said. Elaborating on the census exercise, the Ministry has said, 'This exercise would include, inter-alia, sick wagons on roadside/sick lines/workshops, unconnected wagons lying in yards/sidings or other piecemeal wagons which have not been offered for examination over a long period of time.' 'This procedure order is meant for a joint drive (by Operating/Carriage & Wagons for Indian Railway premises and by MilRail for defence sidings) to locate, identify and update the wagon particulars (including photograph) of wagons through a specially designed module (Wagon census) within the IRFMM application for updating the active wagon master,' it added. The Ministry has urged each rail division to form multiple joint teams consisting of officials from the Operating and Carriage & Wagons departments to visit all stations, yards, workshops, sidings and any other locations where wagons may be lying. 'MilRail shall arrange for verification of the wagons lying in the defence sidings, where access to railway staff is not permitted,' the circular said, adding the process to download the IRFMM app and register to upload the details of the defence wagons.
