BEL, Other Defence stocks in spotlight, DAC clears Rs 67,000 crore proposals for Armed Forces
The stock like Bharat Electronics, Bharat Dynamics Ltd, Hindustan Aeronautics Ltd are likely to get a positive impact with this approval.
BEL, Other Defence stocks in spotlight, DAC clears Rs 67,000 crore proposals for Armed Forces
New Delhi: Defence Stocks are in focus amid the Defence Acquisition Council, has approved various proposals amounting to a total cost of about Rs 67,000 crore. The stock like Bharat Electronics, Bharat Dynamics Ltd, Hindustan Aeronautics Ltd are likely to get a positive impact with this approval.
For the Indian Army, Acceptance of Necessity (AoN) was accorded for the procurement of Thermal Imager-based Driver Night Sight for BMP. This would enhance night driving capability of BMP and provide higher mobility and operational advantage to the Mechanised Infantry.
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For the Indian Navy, AoN was accorded for the procurement of Compact Autonomous Surface Craft, BrahMos Fire Control System & Launchers and Upgradation of BARAK-1 Point Defence Missile System. The procurement of Compact Autonomous Surface Craft will provide the capability to the Indian Navy for detection, classification and neutralisation of threats in anti-submarine warfare missions.
For the Indian Air Force, AoN for procurement of Mountain Radars and Upgradation of SAKSHAM/SPYDER Weapon System was accorded. The procurement of mountain radars will enhance the air surveillance capability along and across the borders in the mountainous region.
Read Also : NHPC signed MoU for two major Pumped Storage ProjectsThe AoN was also accorded for procurement of Medium Altitude Long Endurance (MALE) Remotely Piloted Aircraft (RPAs) for the three Services. The proposed MALE RPAs can carry multiple payloads & weapons and operate at longer ranges for long endurance missions.
In addition, DAC has also accorded AoN for sustenance of C-17 and C-130J fleets and comprehensive annual maintenance contract of S-400 Long Range Air Defence Missile System.
The defence equipment maker PSUs will get a boost in the recent trading session and would be in the investors list soon.
Shares of BEL are trading higher by 1.02%. However, the shares of other Defence PSUs are trading down by marginal low points.
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