Defence stocks up on government panel’s nod to proposals worth Rs 7,800 crore

Defense shares traded higher on August 25, a day after the Defense Acquisition Council (DAC) gave a green signal for proposals worth Rs 7,800 crore to improve force operability army quantity.
The Department of Defense, where the DAC operates, says all purchases will only be made from local sources.
As of 10:04 a.m., shares of MTAR Technologies, Mazagon Dock Shipbuilders, Bharat Dynamics, Hindustan Aeronautics, Bharat Electronics, Bharat Heavy Electricals, Zen Technologies, Paras Defense were up 0.3 to 1.9%. For the Indian Air Force, the DAC approved the request to purchase and install an electronic warfare kit on the Mi-17 V5 helicopter. This will make the helicopter safer. The sequel will come from Bharat Electronics. ICICI Securities said Bharat Electronics as well as Astra Microwave could benefit from installing an electronic warfare kit.
In addition, “Accepted Necessity (AoN)” was issued for a ground-based automated system for armored and motorized infantry regiments, light machine guns, bridge tanks, computers. laptops and rugged tablets in the framework of the Shakti project and the purchase of weapons for the MH-60R helicopter.
“While these AoNs are expected to receive orders in 18 to 24 months, we are seeing the government take a targeted approach to capacity building,” the national brokerage said. for all the armed forces, even in the year before the election”.
He added that defense spending is unlikely to back down, ensuring that the order books of affected companies remain strong. Disclaimer: Opinions and investment advice expressed by experts on are their own and not those of the website or its management. advises users to check with certified professionals before making any investment decisions.