Defence-related stocks like Bharat Dynamic Ltd ( BDL), BEML and Garden Reach Shipbuilders & Engineers (GRSE) rallied up to 4% on the BSE on Friday, October 24, after the Defence Acquisition Council ( DAC), chaired by Defence Minister Rajnath Singh, approved capital acquisition proposals worth approximately Rs 79,000 crore for the Indian Army, Navy, and Air Force.
The shares of GRSE surged 2.6% to their day’s high of Rs 2,680, while those of BDL rallied 3.5% to Rs 1,568.85. Meanwhile, BEML shares jumped 2.5% to Rs 4,508.15.
The approvals were granted during a meeting held at South Block, New Delhi, according to a press release issued by the Press Information Bureau (PIB).
The proposals, cleared under the Acceptance of Necessity (AoN) framework, aim to bolster India’s defence preparedness across land, sea, and air domains. These acquisitions include advanced weapons systems, mobility platforms, surveillance and tracking systems, and critical support equipment for the three armed services.
For the Indian Army, the AoN has been granted for the procurement of the Nag Missile System (Tracked) Mk-II (NAMIS), the Ground-Based Mobile ELINT System (GBMES), and High Mobility Vehicles (HMVs) equipped with Material Handling Cranes. The Ministry of Defence noted that the NAMIS (Tracked) will enhance the Army’s capability to neutralise enemy combat vehicles, bunkers, and field fortifications.
Meanwhile, the GBMES will provide 24/7 electronic intelligence on enemy emitters, and the HMVs are expected to improve logistics support across varied terrains.
For the Indian Navy, the council has cleared proposals for Landing Platform Docks (LPDs), 30mm Naval Surface Guns (NSG), Advanced Light Weight Torpedoes (ALWT), an Electro Optical Infra-Red Search and Track System, and smart ammunition for the 76mm Super Rapid Gun Mount.
According to the Ministry, these additions will boost the Navy's amphibious operations in coordination with other services and enhance capabilities in peacekeeping and humanitarian missions. The ALWT, developed indigenously by DRDO’s Naval Science & Technological Laboratory, is designed to target conventional, nuclear, and midget submarines. The 30mm NSG will aid in low-intensity maritime and anti-piracy operations.
In the case of the Indian Air Force, the DAC approved the AoN for the Collaborative Long Range Target Saturation/Destruction System (CLRTS/DS) and other associated proposals. The Ministry stated that this system possesses autonomous capabilities for take-off, navigation, landing, target detection, and payload delivery, thereby enhancing the IAF’s operational readiness in mission-critical environments.
Also read: EV to Consumption: Mukul Agrawal buys 10 smallcaps in Q2, chasing India's next big growth themes
( Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
The shares of GRSE surged 2.6% to their day’s high of Rs 2,680, while those of BDL rallied 3.5% to Rs 1,568.85. Meanwhile, BEML shares jumped 2.5% to Rs 4,508.15.
The approvals were granted during a meeting held at South Block, New Delhi, according to a press release issued by the Press Information Bureau (PIB).
The proposals, cleared under the Acceptance of Necessity (AoN) framework, aim to bolster India’s defence preparedness across land, sea, and air domains. These acquisitions include advanced weapons systems, mobility platforms, surveillance and tracking systems, and critical support equipment for the three armed services.
For the Indian Army, the AoN has been granted for the procurement of the Nag Missile System (Tracked) Mk-II (NAMIS), the Ground-Based Mobile ELINT System (GBMES), and High Mobility Vehicles (HMVs) equipped with Material Handling Cranes. The Ministry of Defence noted that the NAMIS (Tracked) will enhance the Army’s capability to neutralise enemy combat vehicles, bunkers, and field fortifications.
Meanwhile, the GBMES will provide 24/7 electronic intelligence on enemy emitters, and the HMVs are expected to improve logistics support across varied terrains.
For the Indian Navy, the council has cleared proposals for Landing Platform Docks (LPDs), 30mm Naval Surface Guns (NSG), Advanced Light Weight Torpedoes (ALWT), an Electro Optical Infra-Red Search and Track System, and smart ammunition for the 76mm Super Rapid Gun Mount.
According to the Ministry, these additions will boost the Navy's amphibious operations in coordination with other services and enhance capabilities in peacekeeping and humanitarian missions. The ALWT, developed indigenously by DRDO’s Naval Science & Technological Laboratory, is designed to target conventional, nuclear, and midget submarines. The 30mm NSG will aid in low-intensity maritime and anti-piracy operations.
In the case of the Indian Air Force, the DAC approved the AoN for the Collaborative Long Range Target Saturation/Destruction System (CLRTS/DS) and other associated proposals. The Ministry stated that this system possesses autonomous capabilities for take-off, navigation, landing, target detection, and payload delivery, thereby enhancing the IAF’s operational readiness in mission-critical environments.
Also read: EV to Consumption: Mukul Agrawal buys 10 smallcaps in Q2, chasing India's next big growth themes
( Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
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