DEFENCE PUBLIC SECTOR UNDERTAKINGS
Explosive growth: How defence sector became a darling of investors
Motilal Oswal Nifty India Defence Index Fund breaks records by collecting Rs 1,676 crores during its NFO period. India's defence sector experiences growth through indigenisation efforts and increased investments. The country aims to enhance its defence production capabilities and boost exports in the coming years.
India's defence production skyrockets to Rs 1.27 lakh crore in 2023-24, thanks to 'Make in India' success
Defence Minister Rajnath Singh announced that India achieved its highest-ever growth in defence production value for 2023-24, highlighting significant milestones for the Make in India initiative. He reiterated the government's commitment to fostering a favorable environment to establish India as a key global defence manufacturing hub.
India a key ally of US in rivalry with China: US ambassador to India
America is investing locally and joining hands with allies such as India to ensure a free and open Indo-Pacific region while competing with China, US ambassador to India Eric Garcetti said.
Senior CPSE executives may get up to 100% hike
The government is considering a proposal to double the compensation of senior executives at central public sector enterprises (CPSEs) with a turnover exceeding Rs 100 crore. This aims to bridge the gap with the private sector and retain top talent. The increase, potentially up to 100%, would be performance-linked, focusing on asset monetisation, project speed, profit, and other benchmarks. The proposal may be presented to the Cabinet Committee of Economic Affairs before the upcoming budget presentation.
MoU signed to set up 3 testing facilities in Chennai under Defence Testing Infra Scheme
The Ministry of Defence revolutionizes defence infrastructure with state-of-the-art facilities in Chennai. With a massive investment of Rs 400 crore under the DTIS scheme, led by Defence Minister Rajnath Singh, the MoU exchange in New Delhi sets the stage for cutting-edge testing facilities. Keltron, Bharat Electronics Limited, and India Optel Limited spearhead the initiative towards self-reliance in defence technology.
Indian defence firms need to invest more in innovations and R&D to keep pace with global standards: Report
According to India Infoline Finance Limited (IIFL) report, these firms allocate only 1.2 per cent of their revenue to R&D, markedly lower than the global average of 3.4 per cent. This gap highlights a need for increased investment in innovation to keep pace with global standards.
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Cannot avoid market momentum but be a little more selective: Mayuresh Joshi
The entire ecosystem will see accelerated investments and the government push through regarding the capex needs. Also, railways as a theme, defence as a theme, and shipbuilders as a theme will continue. Execution is going to be extremely important out here, says Mayuresh Joshi. He further says the earnings story and earnings growth should continue to remain strong in select domestic-focused sectors
Defence Ministry signs 350th iDEX contract with SpacePixxel Technologies for miniature satellite development
The Ministry of Defence signed its 350th iDEX contract with SpacePixxel Technologies Pvt Ltd for developing a miniature observation and imaging satellite for the Indian Air Force. This initiative aims to innovate in space electronics by miniaturising payloads that were previously deployed on large satellites. The new satellite will integrate multiple miniaturised payloads, offering benefits like faster deployment and lower environmental impact. Defence Secretary Giridhar Aramane praised the commitment of defence innovators and assured them of continued support.
350th iDEX contract: MoD, SpacePixxel to work on design, development of miniaturised satellite
iDEX has significantly impacted the defence ecosystem by fostering start-ups, creating job opportunities, and facilitating procurement worth over Rs 2,000 crore, showcasing a commitment to innovation and technology advancement.
3 themes to bet on now for pre-Budget plays: Gurmeet Chadha
Gurmeet Chadha says that the market is trying to position on the pre-Budget period. But there are very few pockets which give a lot of valuation comfort. So, we have to be very selective in terms of what we buy and ensure that we do not end up paying very unreasonable valuations in those pockets.
Indian Army signs Mou for 'next generation wireless technologies'
The Military College of Telecommunication Engineering (MCTE), Indian Army, and the Society for Applied Microwave Electronics Engineering & Research (SAMEER) signed a Memorandum of Understanding (MoU) to advance collaboration in 'Next Generation Wireless Technologies for Indian Army. The MoU aims to establish an 'Advanced Military Research and Incubation Centre' at MCTE, focusing on Advanced Wireless Technologies for the Indian Army. This partnership represents a shared commitment to exploring new technological frontiers and addressing modern battlefield challenges, with potential benefits beyond the military to areas such as telecommunications, emergency response, and public safety.
Made in India Netra, Pinaka Systems attract European, Southeast Asian interest
The AEWC is a system developed by the Centre for Airborne Systems and two of their aircraft are already flying with the Indian Air Force giving wide coverage of the adversaries' activities along both western and northern front of the country. The Indian forces are going to get 12 more of these airborne systems in different configurations.
India-US advance talks on joint production of Stryker armoured combat vehicles
India and the US are in advanced negotiations to co-produce the latest generation of Stryker armoured infantry combat vehicles (ICVs). This three-phase project includes initial purchases, joint production in India, and co-development of future versions, supporting India's "Atmanirbhar Bharat" mission. Customization for Indian terrain, high-altitude areas, and significant technology transfer are key aspects. This collaboration, promoted by the US as part of their strategic defence partnership, aims to modernize India's mechanized infantry, replacing over 2,000 outdated BMP-II vehicles. The Stryker offers advanced capabilities, enhancing India's defence industry and military readiness.
Chakri Lokapriya's top midcap stock picks for near term
I think defence, semiconductor, industrial, infra are easy reforms for the current government in the current shape to continue because even the allies, for instance, Naidu is a very reform-oriented person.
Pakistan to unveil Rs 18 trillion budget on June 12: Minister
The Pakistan government is likely to present the budget with the outlay of around Rs 18 trillion for the financial year 2024-25 on June 12, a minister said on Wednesday. The government will table the budget in the National Assembly after approval from the Cabinet, The Express Tribune newspaper reported, quoting the Minister of State for Finance Ali Pervaiz Malik.
Indian weapons falling into wrong hands? Defence Ministry tightens monitoring
The defence ministry is enhancing monitoring of defence equipment production and requiring companies to adhere to end-user certification rules for exports. The sector has seen a surge in arms and weapons production, particularly in response to the Ukraine-Russia crisis.
RBI approves appointment of Pradeep Kumar Sinha as Part-time Chairman of ICICI Bank
The RBI has approved Pradeep Kumar Sinha's appointment as Part-time Chairman of ICICI Bank, effective July 1, 2024, for a three-year term.
Banking sector is the place to be, don’t be put off by FII selling: Andrew Holland
Andrew Holland, CEO of Avendus Capital Public Markets Alternate Strategies LLP, discusses the impact of FII selling on bank stocks and the upcoming market trends post-elections. Coming to pharma, Holland says the bottom was hit some months back for the whole sector and the prospects are starting to look better not just locally but overseas as well.
Left govt in Kerala enters fourth year, CM says extreme poverty will be eradicated by 2025
Kerala CM Pinarayi Vijayan said that while the Union government fails to fill the numerous vacancies in various Central government establishments, including the Indian Railways and other Central public sector undertakings, the Kerala Public Service Commission stands as a model for the entire country. He promised that the Left government will eradicate extreme poverty in the state in the coming year.
Joint military exercise 'Shakti': Indian, French armies share drills, expertise in jungle survival techniques
During the ongoing 7th edition of Joint Exercise Shakti, the Indian and French armies are sharing expertise in jungle survival and mountain self-preservation. The exercise, held biennially in India and France, focuses on enhancing joint military capabilities for multi-domain operations in sub-conventional scenarios. With tactical drills including response to terrorism and establishing command posts, Exercise Shakti aims to improve inter-operability and camaraderie between the armed forces of both nations, fostering bilateral relations.
Best banking & PSU mutual funds to invest in May 2024
Mutual fund advisors say banking & PSU debt schemes are ‘relatively’ safe because these schemes invest only in bonds and papers of banks and public sector companies. Since most of these entities are government-backed, they don’t have the credit risk.
Indian Army reduces ammunition imports, boosts indigenous production under 'Make in India' policy
The Indian Army has significantly reduced its dependency on imported ammunition thanks to the 'Make in India' policy. By leveraging private sector capabilities and public sector firms, the Army aims to cease most ammunition imports within a few years. This shift not only cuts import costs but also enhances export potential. Key industry players, including Munitions India Limited and Solar Industries Limited, play crucial roles in this transition, ensuring readiness for emergencies.
Can't direct CBI to register FIR: Special Court to MMTC on coal import scam
A special court has rejected a request from the Metals and Minerals Trading Corporation of India (MMTC) for the Central Bureau of Investigation (CBI) to file an FIR regarding purported corruption linked to the import of coal from an Australian company at exaggerated prices in 2009, according to officials on Thursday.
Unchecked explosion in retail F&O trading may dent household finances, warns Nirmala Sitharaman
The Finance Minister called on NSE, BSE and Sebi to brainstorm together and chalk out robust compliances and regulatory standards to protect investors' interests. BSE and NSE were asked to mitigate systemic risk and ensure market stability. Sithraman said this in at a BSE event in Mumbai.
Top 5 banking & PSU debt mutual funds with 1-yr returns & who should invest
Top 5 banking & PSU debt mutual funds cater to lower risk appetite investors, outperforming Crisil 10 Yr Gilt Index. Active banking & PSU banks manage Rs 80,730 crore AUM. Notable underperformers include Baroda BNP Paribas, Canara Rob, Mirae Asset funds.
State-run cos thriving under PM Modi's leadership: FM Nirmala Sitharaman
A high-level expert panel on floor wages in India is set to re-examine the wage rates finalised earlier, considering minimum wages notified by all states across three categories. The panel, led by SP Mukherjee, will hold its final meeting on May 27 and submit its report to the new government by June 2024. The three-year term of the expert committee, established in 2021, will end on June 30, 2024. The report is expected to outline a roadmap for periodic review of floor wages based on updated data sets and methodology changes.
Indian Coast Guard and Jindal Steel & Power sign MoU to enhance indigenous shipbuilding
Indian Coast Guard and Jindal Steel & Power have signed an MoU to enhance the supply of indigenous marine-grade steel for shipbuilding projects. The MoU emphasizes indigenization efforts and underscores the importance of public-private partnerships in addressing security challenges. This collaboration aligns with the government's 'Make in India' and 'Atmanirbhar Bharat' initiatives, aiming to boost self-reliance in the defence sector.
Bet on PSUs only if bullish on India growth story; never in the short-term: Anand Sharma
Anand Sharma discusses the extensive impact of public sector enterprises in various sectors under government control, emphasizing the wide theme of PSU equity with a focus on power, oil, financials, logistics, metals, and mining. Sharma says , PSU equity fund is a thematic fund and should be a smaller part of any investors investable corpus.
India-Indonesia defence industry partnership gets big boost
India-Indonesia Defence Industry Exhibition-cum-Seminar in Jakarta marked a milestone in bilateral defence cooperation. The event showcased Indian defense prowess, fostering strategic partnerships and aiming for regional stability in the Indo-Pacific.
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