MSME DEFENCE
How will TCS stock perform post its Q1 results? Sandip Sabharwal answers
The results do not do much for the stock. It creates a moderate upside in the near term in my view because the TCV order bookings were strong over the last two quarters. This quarter has been a bit lower than expected, but then the past orders could start getting implemented going forward.
UP defence corridor attracts Rs 25,000 crore in deals through 154 MoUs, propels industrial growth
Uttar Pradesh has signed more than 150 defence manufacturing deals worth ₹25,000 crore, focusing on boosting India's defence production and exports. The projects, part of the UP Defence Industrial Corridor, will create 40,000 jobs across six districts. With notable companies like Adani Defence and BrahMos Aerospace involved, the initiative aims to propel the state's industrial value chain and support India's self-reliance in defence. Significant milestones include the delivery of AK-203 rifles and the development of a BrahMos missile plant.
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.
Mazagon Dock shares surge over 4% amid talks of Rs 35,000 crore deal with Ministry of Defence
MDL shares rose 4.3% as discussions with MoD for Rs 35,000 crore deal on Kalvari-class submarines progress with 60% indigenous content commitment.
MDL in advanced talks with Defence Ministry for Rs 35,000 crore Kalvari submarine deal
MDL in advanced talks for a potential ₹35,000-crore deal to acquire three larger, modern Kalvari-class submarines with advanced electronics and propulsion for the Navy, ensuring 60% indigenous content.
Indian Navy gets fifth Missile-Cum-Ammunition Barge
The Indian Navy has launched the fifth Missile Cum Ammunition Barge, LSAM 13, Yard 81, built by MSME Shipyard SECON Engineering Projects Pvt Ltd, Visakhapatnam. The barges are part of the Missile Cum Ammunition Barge project, which aims to facilitate transportation, berthing, and disembarking of articles and ammunition for IN Ships.
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6th barge of LSAM 16 series built by private firm launched in Thane
A new barge, the sixth in the LSAM 16 series, was launched in Thane, Maharashtra, by a private firm. This barge, named 'Ammunition Cum Torpedo Cum Missile Barge, LSAM 20 (Yard 130)', will aid the Indian Navy in transporting articles and ammunition to ships. Built by MSME Shipyard, Suryadipta Projects Pvt Ltd, the barge is part of a project involving 11 such barges. The project aims to enhance the Navy's operational capabilities and is a testament to the 'Make in India' initiative.
India’s defence production is $13 bn and growing, and MSMEs are providing the tailwind
The government’s push for indigenisation in defence has encouraged smaller players to get into the game and reduce India’s dependence on imports.
Maharashtra MSME Defence Expo 2024 wraps up by highlighting India's promising defence future
The MSME Defence Expo 2024 in Maharashtra showcased India's strides in defence innovation, collaborations, cutting-edge technology, and insightful discussions, reinforcing the commitment to self-reliance in defence manufacturing and technology.
SIDBI ET MSME Conclave: Last session in Aurangabad on March 19 to focus on cluster development and improving MSME competitiveness
The programme is now entering its last session which will be held in the city of Maharashtra with the aim to host and uplift its entrepreneurs and small businesses.
Digital lenders’ play for MSMEs; Ola Electric to launch e-autos
MSME-focused digital lenders are increasingly gaining traction as banks slow down on unsecured consumer loans. This and more in today’s ETtech Morning Dispatch.
Defence Ministry signs deal with Indian firm to upgrade Su-30 MKI fighter aircraft simulator
The Ministry of Defence has signed a contract with an Indian firm to upgrade the simulators of the Su-30 MKI fighter aircraft of the Indian Air Force, enhancing operational training for IAF pilots. This upgrade will incorporate all indigenous weapons and capabilities. Additionally, the MoD signed five major capital acquisition contracts worth Rs 39,125.39 crore, including procurement of Aero-engines for MiG-29 aircraft, Close-in Weapon System (CIWS), High-Power Radar (HPR), BrahMos missiles, and Ship-borne BrahMos system, strengthening indigenous capabilities and reducing dependency on foreign equipment manufacturers.
Defence Ministry inks Rs 39,000 crore deals; L&T bags record contract
The defence ministry signed acquisition contracts worth Rs 39,125 crore including the largest military deal for an Indian private sector company, L&T. The contracts included upgraded fighter jet engines, supersonic cruise missiles, close-in weapon systems, high-power radars, and ship-borne Brahmos systems. Deliveries to start in the next two to three years, generating employment and involving micro, small & medium enterprises.
Maharashtra MSME Defence Expo takes big strides to strengthen MSME’s participation in facilitating India’s defence manufacturing
The Maharashtra MSME Defence Expo showcased equipment to make India self-reliant in the defence sector. It was inaugurated by Deputy Chief Minister of Maharashtra, Devendra Gangadharrao Fadnavis, and featured industry leaders like L&T, Mahindra, Tata, and Munitions India Limited.
BrahMos missile now our primary weapon: Navy Chief after Rs 19,000 crore deal cleared by Center
Indian Navy Chief Admiral R Hari Kumar announced that the BrahMos missile will become the Navy's primary weapon, replacing older systems. He praised BrahMos for its range, capabilities, and lethality, emphasizing its "potent" nature. The missile's indigenous production in India offers self-reliance, with repair and spare parts readily available. This follows the clearance of a deal for over 200 BrahMos missiles under a Rs 19,000 crore contract. Admiral Kumar highlighted the importance of Micro, Small, and Medium Enterprises (MSMEs) in India's defence manufacturing self-reliance during his visit to the Defence Expo in Pune.
"Time has come to move on to newer technologies and better-quality radars": Air Force Chief
Air Chief Marshal VR Chaudhary visited the 'Maharashtra MSME Defence Expo' in Pune, announcing a new deal with L&T for ground-based hyper radars. He emphasized the need to upgrade air defense technology and quality, stating that the new radars will strengthen the country's air defense capabilities. Chaudhary also discussed the closed-in weapon system, highlighting its importance in countering a wide spectrum of threats, from drones to hypersonic weapons. The Expo showcases India's indigenous Samar-II and Akash surface-to-air weapon systems, demonstrating advancements in defense technology.
Indian Navy will become 'aatmanirbhar' by 2047: Admiral R Hari Kumar; inaugurates MSME plant
The Chief of Naval Staff, Admiral R Hari Kumar, expressed the Indian Navy's commitment to achieving self-reliance ("aatmanirbharta") by 2047, emphasizing the need for industry support in manufacturing every ship, submarine, aircraft, and weapon system within India. He inaugurated a manufacturing plant of Nibe Defence and Aerospace, highlighting its role in strengthening India's ability to produce indigenous weapon systems.
Jindal Stainless, MSME Tech Centre to make value-added products for defence, aerospace
JSL Managing Director Abhyuday Jindal said, "Through this MoU, our aim is to deliver high-quality products to the defence and aerospace sectors with increased efficiency. The move is aligned with the Prime Minister's Atmanirbhar Bharat initiative, and will contribute towards reducing reliance on imports."
Interim Budget 2024: MSMEs want to see execution of policies, express cautious optimism on announcements
Among some of the measures announced include the establishment of a corpus of Rs 1 lakh crore to give interest-free loan for tech-savvy youth to spur innovation.
To push for defence production, Maharashtra gears up for its inaugural DefExpo
Maharashtra is set to host its first DefExpo, focusing on defence production, at Pune International Exhibition and Convention Centre from February 17th to 19th. The expo will feature over 500 MSMEs and startups in the state, offering a platform for industry leaders, startups, and MSMEs to showcase their capabilities in collaboration with the armed forces, police personnel, and industry executives.
Indian Coast Guard bolsters maritime defence with ₹1,070 crore deal for 14 fast patrol vessels
The Indian defence ministry has recently finalized a significant deal with Mazagon Dock Shipbuilders Ltd (MDL) for the acquisition of 14 fast patrol vessels. The deal, worth Rs 1,070 crore, aims to strengthen the capabilities of the Indian Coast Guard. Under this agreement, MDL will be responsible for designing, developing, and manufacturing these multi-role fast patrol vessels within a period of 63 months.
Budget 2024: MSME expects special package from Sitharaman on February 1
MSME sector urges Finance Minister Sitharaman for special package in interim Budget 2023-24 to ensure increased access to credit at competitive rates for USD 5 trillion economy; holds importance before general elections. Sector contributes 29.15% to GDP. Focus on addressing uneven power dynamic, lack of competition, and weak grievance redressal mechanism with banks.
MSMEs need to work with large industries, DRDO for defence & aerospace sector indigenisation: DRDO Chairman
The DRDO Chairman said that the TDF scheme not only provides funds to MSMEs but also mentorship and hand-holding.
Defence ministry inks Rs 2,956 cr contract with BHEL to procure 16 super rapid gun mount for Navy
"The Ministry of Defence has signed a contract with M/s Bharat Heavy Electricals Limited (BHEL), Haridwar on November 28 for procurement of 16 Upgraded Super Rapid Gun Mount (SRGM) along with associated equipment/accessories for Indian Navy under Buy (Indian) category at a total cost of Rs 2956.89 crore," it said in a statement. It said the upgraded SRGM will be manufactured by BHEL at its Haridwar Plant.
Small industries backbone of Indian economy: Rajnath Singh
Defence Minister Rajnath Singh emphasized the pivotal role of small industries in the country's economy, stating that they create more employment opportunities than larger companies. During the inauguration of the 'India Manufacturing Show' in Bengaluru, Singh credited small industries with stabilizing the economy and ensuring a more equitable distribution of wealth.
Vivad se Vishwas: Govt accepts over 10k MSME claims worth Rs 256 cr for refunds
The Indian government has accepted over 10,000 claims from Micro, Small, and Medium Enterprises (MSMEs) under the dispute resolution scheme Vivad se Vishwas-I. The claims, totaling Rs 256 crore ($34 million), involve refunds for performance or bid security and liquidated damages forfeited by government departments and public sector entities during the COVID-19 period.
MSMEs: The unsung heroes of Atmanirbhar Bharat in defence
There must be a strong implementation of the “ease of doing business” for MSMEs. The categorisation clauses in DAP 2020 should provide some leverage to MSMEs. There should be an open gate for these enterprises in the acquisition process, through which they can directly penetrate the strong wall of restrictions.
Exports of defence items, technology to reach Rs 17,000 crore in FY23
The four-day India MSME Defence Week seeks to create linkages for the Indian MSMEs in the defence sector.
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