Latest news with #VRChaudhari
NDTV
22-07-2025
- Politics
- NDTV
MiG-21, Indian Air Force's Workhorse, To Be Phased Out In September
New Delhi: The MiG-21 - that redoubtable warhorse of the Indian Air Force - will be phased out of active service by September, to be replaced by the newer and nimbler Tejas Mk1A fighter jets. The IAF has 36 MiG-21 planes left in its arsenal, a far cry from the nearly 900 - of which around 660 were built in India - that so successfully protected the nation's skies and territories. The MiG-21 first entered service in 1963, on a trial basis. The Russian-made jet went on to form the backbone of the Air Force till the mid-2000s, when the Sukhoi Su-30MKIs were brought in. The final variant to serve India - the ones which will now be phased out - was the Bison, which featured upgraded electronics and better navigation and communications systems. In October 2023, MiG-21 fighter aircraft from the No 4 squadron flew for one last time over the town of Barmer in Rajasthan, a 'farewell and thank you for the memories' moment it shared with the planes taking up its role in the state that borders Pakistan, the also Russian-made Sukhoi. #WATCH | Marking the end of an era, the MiG-21 Bison fighter aircraft of the No 4 squadron of the Indian Air Force flew for the last time over the Uttarlai town in Barmer, Rajasthan. On this occasion, the MiG-21 Bison flew alongside the Su-30 MKI. — ANI (@ANI) October 31, 2023 "We will stop flying the MiG-21 fighter aircraft by 2025 and will replace them with the LCA Mark-1A," then-Air Force chief, Air Chief Marshal VR Chaudhari had said then. In July 2022 the Air Force had confirmed a three-year timeline to phase out the four remaining MiG-21 squadrons still in service. The plan also involves phasing out the MiG-29s by 2027. The phasing out of the MiG-21 fleet comes after numerous crashes involving the aging plane, including an incident in Rajasthan in May 2023 in which the three villagers were killed. The MiG-21 in question took off from the Suratgarh Air Force base for a routine exercise when it crashed near Bahlol Nagar in Rajasthan's Hanumangarh after a 'technical snag'. The Air Force grounded the entire MiG-21 fleet after that accident. Among the earlier squadrons to have been phased out was the Srinagar-based No 51, which took part in Operation Safed Sagar during the Kargil war. It also repulsed Pakistan's retaliatory action in February 2019, a day after airstrikes in Balakot targeted terrorist camps in Pak. Wing Commander Abhinandan Varthaman, now a Group Captain, who shot down a Pak jet in aerial combat before he was forced down too and was captured, was from that squadron. Meanwhile, India is also developing a fifth-generation stealth fighter that will vault the country into an elite club - one of only three other countries with such advanced fighter aircraft. NDTV Explains | The multirole Advanced Medium Combat Aircraft will be a single-seat, twin-engine jet with advanced stealth coatings and internal weapons bays, and the plane - most of which will made in-house, at Bengaluru's Aeronautical Development Agency - will cost over Rs 15,000 crore.
Business Recorder
05-05-2025
- Business
- Business Recorder
KSE-100 Index recovers intra-day losses, ends the day flat
The Pakistan Stock Exchange's (PSX) benchmark KSE-100 Index closed flat after recovering from over 1,000-point loss it had incurred during intra-day trading on Monday. The KSE-100 witnessed selling pressure in the first half to hit an intra-day low of 113,077.67, a loss of over 1,000 points as compared to the previous close. However, the index managed to recover most of its losses through some buying in the final hours. At close, the benchmark index settled at 114,102.24, marginally down by 11.70 points or 0.01%. The recovery was mostly helped by key stocks like FFC, DGKC, FCCL, POIC, and MLCF, which together added about 276 points to the index, according to the post-market report by brokerage house Topline Securities. The Friday's decline in the first half was observed amid media reports suggesting that Indian airstrikes could be imminent, after Indian Prime Minister Narendra Modi held a significant 40-minute meeting with Air Chief Marshal VR Chaudhari on Sunday. Investors were also waiting for the Monetary Policy Committee (MPC) decision on the policy rate. The central bank, in its statement later during the day, announced to cut the key policy rate by 100bps to take it to 11%. During the previous week, PSX remained volatile amid escalating geopolitical tension between Pakistan and India. The benchmark KSE-100 Index shed 1,355.41 points, or 1.2%, on a week-on-week basis, closing at 114,114 points compared to 115,469 points in the previous week. Globally, Indian shares held firm on Monday, supported by easing global trade tensions, steady foreign inflows, and a drop in crude prices that lifted investor sentiment. The Nifty 50 was up 0.59% at 24,487.14 and the BSE Sensex gained 0.54% to 80,936.4 as of 10:03am IST. The benchmarks logged their longest weekly winning streak so far in 2025 on Friday, helped by renewed optimism over a potential India-U.S. trade deal. Foreign portfolio investors (FPI) scooped up Indian shares for the 12th consecutive session on Friday, their longest daily buying streak in two years. However, the gains have been capped by somewhat muted March quarter earnings season so far and geopolitical concerns, two analysts said. Volume on the all-share index increased to 399.54 million from 372.36 million recorded in the previous close. However, the value of shares declined to Rs19.85 billion from Rs23.28 billion in the previous session. Power Cement was the volume leader with 41.34 million shares, followed by WorldCall Telecom with 23.85 million shares, and Maple Leaf with 23.57 million shares. Shares of 452 companies were traded on Monday, of which 240 registered an increase, 155 recorded a fall, while 57 remained unchanged.
Business Recorder
05-05-2025
- Business
- Business Recorder
PSX recovers losses, KSE-100 up over 200 points
After shedding over 1,000 points in early trading, the benchmark KSE-100 Index recovered all losses during the ongoing session on Monday. Selling pressure was witnessed for most of the day at the Pakistan Stock Exchange (PSX) as investor sentiment remained cautious due to escalating tensions between Pakistan and India, dragging the index to an intra-day low of 113,077.66. However, the market staged a strong recovery in the latter half, and by 2:20pm, the benchmark index had rebounded to 114,350.45 — up by 236.52 points or 0.21%. The earlier decline was observed amid media reports suggesting that Indian airstrikes could be imminent, after Indian Prime Minister Narendra Modi held a significant 40-minute meeting with Air Chief Marshal VR Chaudhari on Sunday. The meeting comes in the wake of the recent Pahalgam attack in Jammu and Kashmir. Investors are also awaiting the Monetary Policy Committee (MPC) decision on the policy rate, with the meeting scheduled for later in the day. During the previous week, PSX remained volatile amid escalating geopolitical tension between Pakistan and India. The benchmark KSE-100 Index shed 1,355.41 points, or 1.2%, on a week-on-week basis, closing at 114,114 points compared to 115,469 points in the previous week. Globally, Indian shares held firm on Monday, supported by easing global trade tensions, steady foreign inflows, and a drop in crude prices that lifted investor sentiment. The Nifty 50 was up 0.59% at 24,487.14 and the BSE Sensex gained 0.54% to 80,936.4 as of 10:03am IST. The benchmarks logged their longest weekly winning streak so far in 2025 on Friday, helped by renewed optimism over a potential India-U.S. trade deal. Foreign portfolio investors (FPI) scooped up Indian shares for the 12th consecutive session on Friday, their longest daily buying streak in two years. However, the gains have been capped by somewhat muted March quarter earnings season so far and geopolitical concerns, two analysts said. This is an intra-day update
Business Recorder
05-05-2025
- Business
- Business Recorder
PSX under pressure, KSE-100 down nearly 900 points
Selling pressure returned to the Pakistan Stock Exchange (PSX) amid escalating geopolitical tension between Pakistan and India, with the benchmark KSE-100 Index losing nearly 900 points during the opening hours of trading on Monday. At 9:40am, the benchmark index was hovering at 113,223.46 level, a decrease of 890.47 points or 0.78%. Sentiments remain subdued across key sectors including power generation, oil and gas exploration companies, OMCs, automobile assemblers and commercial banks. Key stocks including HUBCO, PSO, SNGPL, MARI, OGDC, PPL, MEBL, NBP and UBL traded in the red. The decline follows media reports suggesting that Indian airstrikes could be imminent, after Indian Prime Minister Narendra Modi held a significant 40-minute meeting with Air Chief Marshal VR Chaudhari on Sunday. The meeting comes in the wake of the recent Pahalgam attack in Jammu and Kashmir. Investors are also awaiting the Monetary Policy Committee (MPC) decision on the policy rate, with the meeting scheduled for later in the day. During the previous week, PSX remained volatile amid escalating geopolitical tension between Pakistan and India. The benchmark KSE-100 Index shed 1,355.41 points, or 1.2%, on a week-on-week basis, closing at 114,114 points compared to 115,469 points in the previous week. Globally, Indian shares held firm on Monday, supported by easing global trade tensions, steady foreign inflows, and a drop in crude prices that lifted investor sentiment. The Nifty 50 was up 0.59% at 24,487.14 and the BSE Sensex gained 0.54% to 80,936.4 as of 10:03am IST. The benchmarks logged their longest weekly winning streak so far in 2025 on Friday, helped by renewed optimism over a potential India-U.S. trade deal. Foreign portfolio investors (FPI) scooped up Indian shares for the 12th consecutive session on Friday, their longest daily buying streak in two years. However, the gains have been capped by somewhat muted March quarter earnings season so far and geopolitical concerns, two analysts said. This is an intra-day update
