Mazagon Dock, GRSE, HAL, BEL shares rise up to 5% as DAC approves ₹1.45 lakh cr procurements
The Defence Acquisition Council (DAC) on Tuesday approved 10 capital acquisition proposals worth ₹1.45 lakh crore for the Indian Army, Navy, and Air Force.
The Defence Acquisition Council (DAC) on Tuesday approved 10 capital acquisition proposals worth ₹1.45 lakh crore for the Indian Army, Navy, and Air Force.
Shares of shipbuilding & allied services PSU company surged to an all-time high at ₹4,269.75 today, 7% up from yesterday's closing price
Mazagon Dock Shipbuilders Limited (MDL) has entered into an agreement with the Ministry of Defence's Acquisition Wing for a substantial contract valued at ₹1,600 crore.
Mazagon will design, build and deliver the vessels, with the first delivery expected in 27 months
The share price of Mazagon Dock Shipbuilders has more than doubled in the past six months, while it surged 170% in the calendar year 2023.
The company won an order worth ₹310 crore from the ministry of defence for the Construction and Delivery of One Training Ship for the Indian Coast Guard (ICG).
The share price of warships and submarines manufacturer has given a whopping 1,256% return since its listing on October 12, 2020.
Defence ministry says price, other terms to be negotiated with French govt after taking into account all relevant aspects, including comparative price of similar aircraft by other countries
The construction of the submarines would take place in India and is expected to have significant local content.