POSITIVE INDIGENISATION LIST
BEL shares in focus as PSU receives orders worth Rs 648 crore since late August. What’s ahead after 183% rally in 3 years?
Bharat Electronics (BEL) secured additional orders worth Rs 648 crore since late August, covering defence technologies including laser-based IR jammers, communication equipment, cybersecurity solutions and AI software. The orders follow significant recent wins and come amid large defence procurement approvals. BEL shares have delivered strong long-term returns but remain under pressure in recent months.
ETMarkets Smart Talk | AI, defence, power: Investors need to be selective as valuations turn expensive, says Aditya Khemani
Aditya Khemani, Head of Equities at Invesco Mutual Fund, believes investors need to be particularly selective at this stage. He cautions against confusing strong earnings momentum with business quality, especially when red flags such as weak cash flows or stretched valuations are overlooked. While India’s growing domestic liquidity provides a cushion against sustained FII selling, Khemani says investors should remain focused on fundamentals, reasonable valuations and the long-term economics of businesses rather than simply following the latest market narrative.
Defence exports rise after Operation Sindoor. Jefferies names Solar, Astra, HAL and BEL as top stock picks
Jefferies initiated coverage on Solar Industries and Astra Microwave with Buy ratings, citing strong defence growth prospects and rising order books. It also maintained Buy ratings on HAL and Bharat Electronics while assigning a Hold rating to Bharat Dynamics. The brokerage expects robust earnings growth across these companies, supported by rising defence spending, indigenisation and export opportunities.
HAL, Astra Microwave, other defence stocks rally up to 4% after DAC clears Rs 1.10L cr proposals; Motilal picks 3 stocks to buy
Defence stocks: The Defence Acquisition Council approved defence procurement proposals worth around Rs 1.10 lakh crore, with nearly 98% of purchases to be sourced from Indian companies. The move is likely to keep defence stocks such as HAL, BEL, Paras Defence, BEML and Astra Microwave in focus. The approvals cover requirements of the Army, Navy and Air Force.
Will BDL, HAL & other defence stocks deliver rocketing returns? Here’s why this brokerage remains bullish
India’s defence sector is gaining momentum on the back of rising defence spending, localisation, strong order pipelines and growing exports. Bajaj Broking remains bullish on Bharat Dynamics and Hindustan Aeronautics, citing improving execution, robust order books and long-term military modernisation as key growth drivers.
FOMO alert: Retail investors sold 1,051 stocks before they soared 36% on average
Retail investors reduced holdings in 1,051 NSE-listed stocks in the June quarter, even as these stocks gained an average 35.79%. This outpaced the 24.22% average rise in 1,130 stocks where retail ownership increased, suggesting investors may have exited some winners too early.
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Will Paras Defence, MTAR Tech, HAL, other defence stocks deliver explosive returns? Here's what analysts say
Defence stocks are currently soaring, largely fueled by progressive government reforms aimed at strengthening the sector. Analysts maintain a positive outlook on future growth, bolstered by the Defence Ministry's list that encourages domestic procurement. Although valuations may seem elevated, market corrections present prime opportunities for investors. As India aspires to lead in global defence technology, the horizon looks promising for the industry.
Defence stocks fire up! Paras Defence, GRSE, other stocks jump up to 10% as govt notifies 6th indigenisation list
Defence stocks surged up to 10% after the Defence Ministry unveiled its sixth Positive Indigenisation List covering 405 items with Rs 3,070 crore business potential. The move aims to boost domestic manufacturing, innovation and investment while reducing India’s dependence on defence imports.
Defence Ministry notifies sixth indigenisation list of 405 items including gears for light helicopters, tanks and light combat aircraft
The Defence Ministry has released its sixth indigensition list, featuring 405 items. These components and systems will now be exclusively sourced from Indian suppliers. The list includes critical items for air and armoured platforms, and defence electronics. This initiative aims to boost domestic manufacturing and reduce import dependence. Over 15,700 defence items have already been successfully indigenised.
Rajnath Singh pitches for greater role of private sector in defence production
Defence Minister Rajnath Singh emphasized the need for the private sector to account for at least 50% of India's defence production, highlighting the importance of self-reliance. He noted the record growth in defence production and stressed the need to expand the defence industrial base, learning from the Russia-Ukraine war.
India's manufacturing is all set to expand with robust foundations of reforms: Nuvama report
India's manufacturing sector, contributing 17% to GDP, has been positioned as the sixth-largest manufacturing economy. Recent reforms have created investment opportunities across various sectors. Key initiatives in the defence sector, such as the Make in India campaign and Defence Procurement Procedure, aim to modernize armed forces, reduce imports, and boost exports.
India releases fresh 'positive indigenisation list' to boost domestic defence manufacturing
According to a press release by the Ministry of Defence, this latest list comprises 346 strategically important items, including Line Replacement Units, Systems, Sub-systems, Assemblies, Sub-assemblies, Spares, Components, and raw materials. The import substitution value of these items is estimated to be Rs 1,048 crore.
India making defence ecosystem for self-reliance: Defence Minister Rajnath Singh
Government is developing a strong base of domestic defence industrial ecosystem to make the country a strategic economy, said the Defence Minister Rajnath Singh in Assam. Talking about the domestic defence manufacturing, Singh said that the production has crossed the record figure of Rs 1,00,000 crore for the first time.
Govt reserved 75 % of defence capital acquisition budget for purchases from local companies: Defence Minister Rajnath Singh
The move is to ensure adequate demand assurance for the domestic industries, he said at the 'India Manufacturing Show-2023' here, as he listed the steps taken for MSMEs in the defence sector. "We are the first government which imposed restrictions on itself for the import of weapons. We released five positive indigenisation lists, under which 509 equipment have been identified, the manufacturing of which will now take place in India," Defence Minister Rajnath Singh said.
India's leap towards self-reliance: Defence Minister unveils new cutting-edge innovations at 'Swavlamban 2.0
India's Defence Minister, Rajnath Singh, announced a series of measures to enhance self-reliance in the defense sector at the 'Swavlamban 2.0' event. The fifth Positive Indigenisation List, comprising 98 critical items, was unveiled, focusing on import substitution and domestic development. Additionally, challenges were launched to foster innovation, and a dual-chip debit card called the 'SBI NAVeCash Card' was introduced.
India announces fresh 'positive indigenisation list' to boost domestic defence manufacturing
The new "positive indigenisation list" is in continuation of the first four such lists, which contained a total of 411 military items. Separately, the Department of Defence Production notified four positive indigenisation lists consisting of 4,666 items, including line replacement units, sub-systems, spares and components for Defence Public Sector Undertakings (DPSUs), according to the defence ministry.
164 'positive indigenisation list' items indigenised: Defence ministry
A total of 164 equipment and items identified under the import restrictions as part of the 'positive indigenisation list' has been indigenised by December 2022, the defence ministry said on Tuesday. It put the annual import substitution values of the items at Rs 814 crore.
India's Defence Ministry approves fourth 'positive indigenisation list' to boost local manufacturing
The Indian Defence Ministry has approved a list of 928 components and subsystems that will only be procured from domestic firms once import bans on them kick in over a period of five-and-a-half years, as the country continues to move towards self-reliance in defence. Termed a Positive Indigenisation List, the document comprises line replacement units, sub-systems and components used for various military platforms, equipment and weapons. The timeline for import bans kicks in starting December 2023 and will run through December 2028, with the newest list aiming to minimise imports by defence public sector undertakings.
Govt approval to 45 companies/JVs operating in defence sector with foreign OEMs
"The government has given approval to 45 companies/JVs operating in defence sector with foreign OEMs," he said responding to a query on the number of foreign companies who have shown interest in manufacturing defence equipment under foreign direct investment in the country.
Defence-related stocks get indigenisation boost
"All the items included in the lists will be procured from indigenous sources as per provisions given in Defence Acquisition Procedure (DAP) 2020. This list provides continuous impetus towards self-reliance in defence," MoD said in a release on Wednesday.
DefExpo 2022 - HAL to showcase indigenous products
HAL will have a dedicated 'Indigenisation Exhibition Stall' for active participation and interaction of Indian industry partners, it said in a statement. More than 200 imported items planned to be indigenised with private industries will be displayed in this stall to attract Indian industry. As many as 26 already indigenised items will be displayed.
DPSUs indigenised 72 items before their original timelines: Govt
It said the main sub-systems and line replacement units that were indigenised include the magazine fire-fighting system for ships, the steering gear system, pressurised containers for Akash missiles and the prism optical instrument for battle tanks. "Besides these items, some critical components include intermediate castings for helicopters, polychropene rubber bands for submarines and high-pressure regulating valves for ships," the ministry said.
Rajnath approves fresh 'positive list' of sub-systems to promote domestic defence industry
The defence ministry has set specific timelines for import ban of the items, spanning a period from December 2023 to December 2028.
Defence ministry intensifies drive for indigenisation of defence items
It said the progress of the indigenisation process by the defence public sector undertakings (DPSUs) is being reviewed on weekly basis by Defence Secretary Ajay Kumar. The ministry said a comprehensive user-friendly 'dashboard' on the SRIJAN portal has been developed to monitor the status of progress of the indigenisation process.
Key drivers for ‘Aatmanirbhar’ Defence Sector in India
To achieve the desired growth, the two main cornerstones will be indigenisation and self-reliance in defence manufacturing.
Rajnath Singh releases 3rd list of weaponry to be banned for import to boost self-reliance in defence manufacturing
The first "positive indigenisation" list of 101 items that included towed artillery guns, short-range surface-to-air missiles, cruise missiles and offshore patrol vessels was issued in August 2020.
Defence ministry puts restrictions on import of 107 items under staggered timeline
The list released by the Defence Ministry comprised 22 items that will be taken up for indigenisation by the state-run aerospace major Hindustan Aeronautics Ltd (HAL) while Bharat Electronics Ltd will indigenise 21 sub-systems. The Mazagon Dock Shipbuilders will take up indigenisation of six components and subsystems used for construction of ships and submarines, Bharat Dynamics Ltd has been entrusted with indigenisation of four items for Astra missiles, while BEML Ltd got 12.
Negative import list: MoD exempts emergency items
The notification will not dilute the efforts to curb imports, but will be useful to meet immediate needs of the forces in case of non-delivery or delays by domestic companies. A new DIC is being constituted to draw up negative import lists and give exceptions to the armed forces.
India needs to build strategic partnerships to get the most out of local defence manufacturers
For example, India lacks expertise and capability to produce several core subsystems on the indigenisation list. So, many systems will be developed and produced domestically for the first time. Whether domestic manufacturers have the required knowledge, skills and capital to create this capacity remains to be seen. MoD will need to establish mechanisms to assess and de-risk acquisition programmes before large production commitments are made.
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