Goldman Sachs has turned bullish on India’s defence manufacturing sector, naming PTC Industries, Bharat Electronics, and Solar Industries among its top picks, after the Defense Acquisition Council (DAC) cleared proposals worth Rs 790 billion this week, a move the brokerage said reinforces its belief in an increasing total addressable market (TAM) for domestic defense firms….
The Ministry of Defence on Thursday signed a Rs 62,370 crore contract with Hindustan Aeronautics Limited (HAL) for 97 Tejas Mk-1A fighter aircraft, marking the biggest procurement under the indigenous light combat aircraft programme. The deal, announced by the MoD in an official statement will provide the Indian Air Force (IAF) with 68 single-seat fighters…
Defence public sector undertakings Bharat Electronics Ltd (BEL) and Hindustan Aeronautics Ltd (HAL) are learned to have secured fresh deals from the country’s defence forces. BEL is likely to upgrade the electronic suites in the Indian Air Force’s Mi-17 helicopters, sources told Zee Business. The news comes at a time when the country’s defence space…
Hindustan Aeronautics Limited (HAL) has received the third GE-404 engine from the US for the Light Combat Aircraft (LCA) Mk1A programme. Another engine is expected before September ends, giving a fresh push to the production pipeline of India’s indigenous Tejas fighter jets. Boost for Tejas production The arrival of the latest engine strengthens HAL’s efforts…
Defense stocks rally: Indian defence stocks rallied significantly on August 22, fueled by mounting geopolitical tensions after Russia launched one of its largest air assaults on Ukraine—deploying 574 drones and 40 missiles—despite US overtures for a ceasefire. As a result, the Nifty India Defence index rallied nearly 1 per cent, reaching around 7,760.25. According to Ukrainian…
Defence Minister Rajnath Singh and US Defence Secretary Pete Hegseth have agreed to finalise a new 10-year defence framework to deepen bilateral strategic and defence cooperation. The agreement, discussed during a recent phone call, is aimed at strengthening long-term industrial partnerships and addressing key pending defence deals. The Pentagon, in a statement on Wednesday, said,…