Shares of major defense companies like HAL, Cochin Shipyard and Mazagon Dock Shipbuilders will be under watch after the Defense Acquisition Council under the Defense Ministry has approved five mega capital acquisition plans worth more than Rs 21,772 crore. This strategy has been done with the aim of strengthening the industries related to India’s defense capabilities.
One of the major schemes approved is the procurement of 31 New Water Jet Fast Attack Crafts for the Indian Navy. These ships will be built for light maritime warfare, surveillance, patrolling and search and rescue (SAR) operations. One of their important tasks will also be to combat piracy, especially in the island regions of India.
DAC has also approved the procurement of 120 interceptor craft (FIC-1). These multi-role warships will play a vital role in coastal defense for high value units such as aircraft carriers, destroyers, frigates and submarines.
In addition, the DAC also approved the procurement of an Electronic Warfare System (EWS) for the Su-30 MKI aircraft. This package includes external Airborne Self Protection jammer pods, Next Generation Radar Warning receivers and other equipment. The EWS will enhance the operational capability of the Su-30 MKI, making it protected from enemy radar and missile systems, especially during attacks on targets protected by air defense systems.
Along with this, DAC has also approved the purchase of 6 Advanced Light Helicopters (ALH) M (MR) for the Indian Coast Guard. These helicopters will strengthen coastline security and surveillance. The Council also approved the overhaul of T-72 and T-90 tanks, BMPs, and Sukhoi fighter aircraft engines, which will extend the life of these critical equipment.
Disclaimer: This information is for informational purposes only and should not be construed as investment advice. It is recommended to consult a financial advisor before making investment decisions.