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Indigenously built Light Utility Helicopter (LUH) is going to make its first flight very soon as the developers have overcome a software-related hurdle, which was delaying the launch. 
 As per reports, <keyword id="3618825" type="UNKNOWN" weightage="20" keywordseo="hindustan-aeronautics-ltd-made">Hindustan Aeronautics Ltd-made</keyword> 3.1 tonne prototype LUH will replace Cheetah and Chetak fleets of the armed forces. 
The launch will take place in Bengaluru. 
 
"We are now ready to take the chopper in the air. All hurdles have been crossed and now it is only a matter of the right day when all conditions are good for a first flight," a senior official involved in the project told ET. 
 
The LUH is a military project and the works were on since 2008. The testing was done in 2015. 
 The LUH will carry troops and supplies to border areas as presently, the <keyword id="112134" type="ORGANIZATION" weightage="20" keywordseo="Indian-Armed-Forces">Indian Armed Forces</keyword> require over 200 choppers in its fleet. 
 
The manufacturing of the choppers is expected to begin from 2018. The chopper is powered by a Shakti engine made in collaboration with French company Turbomeca. A new production facility is to be built for the LUH project.

Made-in-India ‘Light Utility Helicopter’ ready for its first flight

<ul><li>At 8:00 am, the SGX Nifty was trading 0.07% higher, higher pointing towards a cautious start for Nifty50. </li><li>Here’s a list of stocks to watch for in trade today. </li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider</a>. </li></ul>Indian stock market is likely to open on a tepid note, tracking subdued cues from global markets. At 8:00 am, the SGX Nifty was trading 0.07% higher, pointing towards a cautious start for Nifty50. On Thursday, the US stocks finished lower as the tech shares struggled, weighing on the market. The Dow Jones Industrial Average closed 0.47% lower, and the S&amp;P 500 fell 28.48 points, towards the close. Here’s a list of stocks to watch for in trade on September 18: Dr Reddy's Laboratories Dr Reddy's Laboratories said it had settled litigation with a unit of Bristol Myers Squibb related to patents for Revlimid (lenalidomide) capsules, used to treat various kinds of cancer. "We are pleased with the settlement agreement, and look forward to bringing a generic version of lenalidomide to market soon subject to regulatory approval for the benefit of patients," Dr Reddy's Laboratories North America Generics CEO Marc Kikuchi said. The share price of Dr Reddy's Laboratories closed 4.26% higher yesterday. TVS Motor Company One of India's largest automakers, TVS Motor, has entered into a new distribution partnership in Colombia. The company has tied up with Autotecnica Colombiana SAS (Auteco SAS), a leading motorcycle assembler in Colombia. Autotecnica Colombiana SAS will operate 50 dealerships exclusive for the company and create dedicated space for the brand in over 600 retail outlets, it added. The share price of TVS Motor closed a percent lower on Thursday. Vedanta Vedanta Resources has approached the market regulator SEBI for necessary approvals to start the reverse book building process. The company, earlier in May, announced its plans to delist Vedanta from the Indian stock exchanges by buying out non-promoter shareholding. The share price of Vedanta closed a percent higher on Thursday. IRCTC IRCTC, the company that operates Indian Railways, is planning to levy ‘affordable’ user charges in 700-1,050 stations across the country. It will help build more revenue while providing better facilities and redevelop stations for passengers. The share price of IRCTC closed a percent higher on Thursday. Hindalco and Hindustan Copper Hindalco said that it has entered into a pact with Hindustan Copper for the long-term purchase and sale of copper concentrate produced by the PSU. Under this MoU, around 60% copper content of Hindustan Copper's current concentrate production will be utilised by Hindalco in the manufacture of refined copper. The share price of Hindalco closed 4% lower on Thursday, whereas Hindustan Copper gained 3% during the closing bells. Bharat Forge, Larsen &amp; Toubro, Hindustan Aeronautics Limited, and other defence stocks Defence stocks, including Bharat Forge, Larsen &amp; Toubro, and Hindustan Aeronautics Limited, will be in focus during the trade today since India has permitted foreign direct investment (FDI) of up to 74% under automatic route in the defence sector. The share price of Bharat Forge, Larsen &amp; Toubro, Hindustan Aeronautics, all were trading in red yesterday. Vodafone Idea The telecom giant Vodafone Idea has told the telecom regulator that it is dropping the contentious faster data speed claim as part of priority offering and is in the process of filing a revised plan, according to <a href="https://www.cnbctv18.com/telecom/vodafone-idea-drops-faster-speed-claim-in-priority-offering-informs-trai-about-revised-plan-6939661.htm">media reports.</a> The share price of Vodafone Idea closed 2.17% lower on Thursday. Sterling and Wilson Solar Sterling and Wilson Solar said that the company had won a 106.71 MW solar project in Chile, it's fifth in Latin America, worth $62.6 million (about ₹462 crore). "Sterling and Wilson Solar has signed an order of 106.71 MW worth USD 62.6 million in Chile. The order has been received from a global independent power producer (IPP), work for which is expected to begin in Q4 FY 2021," the company said in a statement. The share price of Sterling and Wilson Solar closed 5% lower yesterday. HDFC Bank A US-based law firm has filed a class-action suit against HDFC Bank, claiming damages for the losses incurred by investors because of "materially false and misleading" representations made by the bank. The share price of HDFC Bank closed a percent lower yesterday. SEE ALSO:<a href="https://www.businessinsider.in/tech/news/instagram-and-facebook-appear-to-be-down-for-some-users-in-north-america-and-europe/articleshow/78176926.cms" data-type="tilCustomLink"> Instagram and Facebook were down for some users in North America and Europe</a> <a href="https://www.businessinsider.in/sports/news/dailyhunt-app-founders-confirm-ipl-2020-associate-sponsorship/articleshow/78169667.cms" data-type="tilCustomLink">EXCLUSIVE: Dailyhunt founders confirm IPL 2020 associate sponsorship — promise new release for Josh ahead of India’s biggest cricket tournament</a>

Top stocks to watch— Dr Reddy's Laboratories, HDFC Bank, TVS Motor, Vedanta, IRCTC, L&T, Bharat Forge, HAL, and more

It was in the esteemed presence of India’s defence minister Mr. Manohat Parrikar that country’s home-grown basic trainer aircraft, called Hindustan Turbo Trainer-40 (<keyword id="1552167" type="UNKNOWN" weightage="100" keywordseo="HTT-40">HTT-40</keyword>), made its inaugural flight in Bengaluru. 
 The two-seater aircraft has been designed and developed by the <keyword id="86569" type="COMPANY" weightage="100" keywordseo="Hindustan-Aeronautics-Limited">Hindustan Aeronautics Limited</keyword>, and was flown by Group Captain C Subramaniam and Group Captain Venugopal, who took a 10 to 15 minutes flight at the <keyword id="68124" type="COMPANY" weightage="100" keywordseo="HAL">HAL</keyword> Airport in Bengaluru. 
 
The craft is aimed at being used for the first stage training for all flying cadets of the three services, and was flown for the first time on May 31. 
 As per sources, the <keyword id="15141" type="ORGANIZATION" weightage="100" keywordseo="Indian-Air-Force">Indian Air Force</keyword> will procure 70 such aircrafts. 
 
 
Detailed design phase of HTT-40, launched in August 2013, was completed in May 2015 because of HAL’s internal funds after which it took another 12 months to fly the first prototype. 
 
As per HAL, the team that worked on HTT-40 programme is "young" and had an average age of 29 when it was started. Pperational clearance is being aimed by 2018, for which the company will be manufacturing three prototypes and two static-test specimens. 
 
The aircraft was tested amidst heavy rains as well, and successfully undertook wet runway landing. 
 
As per HAL officials, HTT-40 can boast of 80% of indigenous content, since more than 75 systems out of the total 90 used in the aircraft have been sourced from local players and sister divisions of HAL. 
 
<a href="http://2.bp.blogspot.com/-F0kMooggCa0/URI0jPStr9I/AAAAAAAAS6E/meCXT76qK9Y/s1600/DSC08270-796402.JPG">Image source</a>

HTT-40, India’s home-grown trainer aircraft has successfully made its inaugural flight

The <keyword id="15141" type="ORGANIZATION" weightage="20" keywordseo="Indian-Air-Force">Indian Air Force</keyword> lacks the required number of squadrons to guard the Indian skies and the numbers are worrisome. 
 
The IAF needs at least 42 squadrons of fighters to safeguard western and northern borders of India with Pakistan and China. 
 
As per a report published in NDTV, the IAF has just 32 squadrons of fighters - the lowest in a decade. 
 Reportedly, <keyword id="2619377" type="UNKNOWN" weightage="20" keywordseo="defence-minister-Manohar-Parrikar">Defence Minister Manohar Parrikar</keyword> has raised the concern with Prime Minister Narendra Modi on the operational difficulties that the IAF faces because of the depletion in fighters. 
 
NDTV reported that the air force de-commissioned three of the aging Russian-made MiG 21 squadrons from 34 to 31. Also, an additional squadron of the Russian-made Su-30 MKI has been raised. 
 
By 2019 -2020, as per reports, it will lose another 14 squadrons of the vintage MiG 21s and MiG 27s. There are 16-18 planes in one squadron. 
Presently, the IAF depends on Su-30 MKI and MiG 29s. 
 
The picture , the British-made Jaguar and French-made Mirage 2000s. An upgrade of the Jaguar fighters being carried out by the public sector Hindustan Aeronautics Limited or HAL has been delayed by two years. 
 
Even the 36 French-made Rafale fighters deal is being worked out. 
 
"Its performance at Baharin was however encouraging and we hope the FOC comes through soon," a senior officer told NDTV, adding, the "IAF is ready to induct as many Tejas fighters as possible to plug the gaps."

Indian Air Force does not have enough squadrons and the numbers are worrisome

The Cabinet Committee on Security (CCS), the highest decision-making body for security issues headed by Prime Minister Narendra Modi, on Wednesday approved the purchase of 83 Tejas fighter jets for the <keyword id="15141" type="COMPANY" weightage="20" keywordseo="Indian-Air-Force">Indian Air Force</keyword> at a cost of Rs 48,000 crore, including infrastructure. The CCS approved the largest indigenous defence procurement deal worth about Rs 48,000 crore to strengthen the IAF's fleet of homegrown Light Combat Aircraft (LCA)-Tejas. "This deal will be a game changer for self reliance in the Indian defence manufacturing," Union Defence Minister <keyword id="6355121" type="PERSON" weightage="20" keywordseo="Rajnath-Singh">Rajnath Singh</keyword> said. Giving out details about the Cabinet decision, the <keyword id="43909" type="COMPANY" weightage="20" keywordseo="Defence-ministry">Defence Ministry</keyword> in a statement said: "The Cabinet has approved procurement of 73 LCA Tejas Mk-1A fighter aircraft and 10 LCA Tejas Mk-1 trainer aircraft at the cost of Rs 45,696 crore along with design and development of infrastructure sanctions worth Rs 1,202 crore." Light Combat Aircraft Mk-1A variant is an indigenously designed, developed and manufactured state-of-the-art modern 4+ generation fighter aircraft. This aircraft is equipped with critical operational capabilities of Active Electronically Scanned Array (AESA) Radar, Beyond Visual Range (BVR) missile, Electronic Warfare (EW) Suite and Air to Air Refuelling (AAR) would be a potent platform to meet the operational requirements of Indian Air Force, IAF. The LCA-Tejas is going to be the backbone of the IAF fighter fleet in the years to come. LCA-Tejas incorporates a large number of new technologies many of which were never attempted in India. The indigenous content of LCA-Tejas is 50 per cent in the Mk1A variant which will be enhanced to 60 per cent. The Light Combat Aircraft Tejas is indigenously designed by the Aircraft Development Agency (ADA) under the Defence Research and Development Organisation (DRDO) and manufactured by <keyword id="86569" type="COMPANY" weightage="20" keywordseo="Hindustan-Aeronautics-Limited">Hindustan Aeronautics Limited</keyword> (HAL). The HAL has already set up second line manufacturing facilities at its Nasik and Bengaluru Divisions. Equipped with the augmented infrastructure the HAL will steer LCA-Mk1A production for timely deliveries to the IAF. "The decision taken today will considerably expand the current LCA ecosystem and help in creating new job opportunities," the minister said. HAL follows a system integrator model in the LCA Mk1A programme and acts as an umbrella organisation, fostering manufacturing and design capabilities in private industry. The first squadron of the Light Combat Aircraft, Tejas was raised in 2016. The manufacturing of 83 jets will not only be a boost for 'Make in India' or self reliance but help in filling the gaps in the Indian Air Force as its current fleet is down to 30 squadrons, way below the sanctioned strength of 42. Each squadron comprises 18 fighter jets. These 73 Mark 1A jets are in addition to the 40 Mark 1 already ordered by the IAF. Last year in March, the <keyword id="6369097" type="COMPANY" weightage="20" keywordseo="ministry-of-defence">Ministry of Defence</keyword> gave the go-ahead for the purchase of 73 Tejas Mark 1A aircraft for the Indian Air Force. This was a major breakthrough as after cost negotiations for over three years between the Ministry of Defence and Hindustan Aeronautics Limited, the price for procurement of the advanced variant of the indigenously-made Light Combat Aircraft Tejas was slashed. The IAF has 20 Mark-1 jets of the earlier variant while another 20 are to be delivered. --IANS sk/kr

$6 billion defence deal boost for HAL — Government approves purchase of 83 Tejas fighter jets

The Indian Government is considering to handover project for improved version of ‘Tejas’ fighter planes to private sector for efficient and time bound execution. 
 
Fed up with a string of delays and design flaws, the government wants to rope in a private player for Light Combat Aircraft, or LCA, programme. 
 
Sources told Economic Times that discussions have taken place in the top echelons of the government to expedite Tejas programme. 
 If the plan gets a go-ahead, private players would have a potential order for more than 160 improved <keyword id="2942559" type="UNKNOWN" weightage="100" keywordseo="Tejas-Mk-II">Tejas Mk II</keyword> fighters that the <keyword id="15141" type="ORGANIZATION" weightage="100" keywordseo="Indian-Air-Force">Indian Air Force</keyword> desperately needs to plug vital operational gaps. 
 The feels that the state-run agencies, <keyword id="139970" type="COMPANY" weightage="100" keywordseo="Hindustan-Aeronautics-Ltd">Hindustan Aeronautics Ltd</keyword> (HAL) and the defence ministry's <keyword id="139969" type="CITY" weightage="100" keywordseo="Aeronautical-Development-Agency">Aeronautical Development Agency</keyword> (ADA), involved in the LCA do not have the capacity to meet the order. 
 
"It is very clear that the LCA programme cannot be allowed to go on as it is. There are not enough resources available to complete the project in the timeline required. A private company would be accountable and would invest in the project," a senior official aware of the government's thinking told ET on the condition of anonymity. 
 
The financial daily reported that another proposal suggested setting up of a special purpose vehicle for the project in which DRDO and HAL, the entities now responsible for the LCA, could be partners along with the private sector. 
 
Meanwhile, experts are of the opinion that the improved version of the fighter jets will have the potential for exports also. 
 
"An improved version of the fighter that meets air force requirements would also have a good export potential. The numbers could go up significantly if India promotes it in and around the region as an affordable fighter," another official told ET. 
 
With the government ever received an order, each fighter would cost a few hundreds of cores of rupees, boosting 'Make in India' cause. 
 
Reportedly, the LCA was conceived in the early 1980s as an aircraft that would replace the Russia-made MIG 21. But, three decades have passed and the Air Force is still to get even a single squadron of these indigenously produced fighters. 
 
India’s neighbours, China and Pakistan, have squadrons of indigenously developed fighter aircraft. 
 
(Image: Indiatimes)

Government is rapidly losing out on creating Low Combat Aircraft for India

<ul><li>Market sentiment in some of the <keyword id="6354298" type="General" weightage="20" keywordseo="stocks" source="Orion">stocks</keyword> have turned positive suddenly in the last five days due to change in sector outlook and so on.</li><li>Shares of <keyword id="46294" type="General" weightage="20" keywordseo="nalco" source="Orion">NALCO</keyword> surged more than 11% in the last 5 days due to the rise in metal prices.</li><li><keyword id="381854" type="General" weightage="20" keywordseo="indiamart" source="Orion">IndiaMART</keyword> InterMESH and Hindustan Aeronautics gained more than 10% during the period as it entered the futures and options market.</li></ul>A few weeks ago the fear of loan defaults by small borrowers in the microfinance segment made <keyword id="2240511" type="General" weightage="20" keywordseo="bandhan-bank" source="Orion">Bandhan Bank</keyword> look very vulnerable. Similar pain among shopkeepers, vendors and other micro, small and medium enterprises (MSMEs) would keep dragging the stock of IndiaMart back to near ₹7,000 levels. The outlook didn’t seem to improve sharply for aviation and Interglobe Aviation, which operates <keyword id="6354706" type="General" weightage="20" keywordseo="indigo" source="Orion">IndiGo</keyword> Airlines remained subdued for much of July and August. But all these stocks, along with a few others, seemed to have suddenly gained traction in the last five days. Here are seven such stocks that have picked momentum in the last five days: <table style="border-width: initial; border-style: none;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Companies </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Stock performance in last 5 days </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">First 25 days of August </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">National Aluminium Company </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">12% </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">-15% </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Mahindra &amp; Mahindra Fin Services </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">8% </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">-3.60% </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Bandhan Bank </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">7% </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">-11.60% </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">IndiaMART InterMESH </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">10% </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">-3% </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Interglobe Aviation (Indigo) </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">12% </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">1.70% </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Hindustan Aeronautics </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">13% </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">5.60% </td></tr></tbody><tbody></tbody><tbody></tbody></table> National Aluminium Company Shares of the state-run aluminium maker have surged 11% in the last 5 days as the metal prices have been rising because of supply-side bottlenecks in the world’s largest primary aluminium producer, China. Aluminium prices are reportedly expected to stay elevated in the near term. Growing disruptions in supply from China are driving prices up. The disruptions are largely because of new emission rules, power shortages and floods in July. High aluminium prices means better realisations for aluminium makers. <keyword id="149555" type="General" weightage="20" keywordseo="mahindra-mahindra-financial-services" source="Orion">Mahindra &amp; Mahindra Financial Services</keyword> The non-banking finance company’s stock has surged 8% in the last five days led by heavy volumes. Volumes traded in the stock remained elevated above 5-18 million in the last five days. Besides, the financier was at more than 95% collection efficiency in July and expects it to continue as things normalise, said Ramesh Iyer, vice chairman and managing director of the company in an interview with <a href="https://www.cnbctv18.com/finance/raul-rebello-joins-mm-fin-as-coo-confirms-ramesh-iyer-10501961.htm">CNBC-TV18.</a> The market capitalisation of the company stood at ₹19,768 crore as on August 31. Bandhan Bank Investors seem to be picking up the Kolkata based bank’s stock on expectations of high returns. Analysts at Credit Suisse reportedly believe that the bank would give more than 20% return on equity. With this, it has set a target of ₹370 apiece. As on August 31, the stock price is at ₹284.70 per share. Analysts at Kotak Securities feel the same, as it says return on equity is likely to move more than 20%. After the bank reported a 32% on year decline in net profit due to high provisions, analysts at Kotak Securities said it sees an improvement in the second half of FY22 as the economic situation improves. It has set a target price of ₹335 per share. IndiaMART InterMESH Another stock that turned around in the last five days was B2B e-commerce platform IndiaMart InterMESH. The stock surged more than 10% in 5 days against tepid trading in the rest of August. This is primarily because the company’s stock has been added to the futures &amp; options market from August 27. The move boosts participation in the stock as investors and institutions can hedge underlying positions in the stock. Moreover, the B2B e-commerce platform’s consolidated net profit grew by 19% year-on-year to ₹88 crore for the quarter ended June 30, 2021. Hindustan Aeronautics Shares of the state-owned aerospace and defence company were triggered after the company signed a $716-million deal with GE Aviation for supply of engines. Moreover, the stock’s inclusion in the futures and options segment also fueled the rally. ICICIdirect has reportedly set a target price of ₹1,380 per share for the next three months. The stock price stood at ₹1,369.35 as on August 31. <keyword id="11941399" type="General" weightage="20" keywordseo="aptus-value-housing" source="Orion">Aptus Value Housing</keyword> Finance India Shares of the newly listed housing finance company made a turn around after its weak listing last week. Shares of the company had debuted with 6% discount to its issue price and now in the last five days, it has gained 6%. Analysts had remained positive on the stock despite tepid listing as it expects the company to do well in the long run given consistent strong financial performance, industry leading return ratios and good asset quality. Interglobe Aviation Shares of the airline company have been gaining on expectation of recovery in air traffic as pace of vaccinations goes up. A report by ICICI Securities reportedly said that the average daily passenger traffic is recovering gradually after dropping to a low in May 2021 due to second COVID-19 wave’s restrictions. Besides, the appointment of Gregg Saretsky as a special advisor also gave some support to the stock price. He is said to work closely with the executive leadership team to accelerate operational and commercial improvement opportunities at the airline. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/two-wheeler-financing-company-oto-raises-6-million-to-offer-services-in-15-indian-cities/articleshow/85794223.cms">Two-wheeler financing company OTO raises $6 million to offer services in 15 Indian cities</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/these-are-some-interesting-data-points-behind-niftys-record-rally/slidelist/85792598.cms">These are some interesting data points behind Nifty’s record rally</a>

The market mood around these seven stocks has suddenly changed ⁠— here's why

Hindustan Aeronautics Limited (HAL), the state-owned aerospace and defence company based in Bangalore, is working on a pact with the <keyword id="15141" type="ORGANIZATION" weightage="100" keywordseo="Indian-Air-Force">Indian air force</keyword> and the Russian government so that a spares hub for <keyword id="51948" type="COMPANY" weightage="100" keywordseo="Sukhoi">Sukhoi</keyword> 30 jets can be set up in the country. 
 
Sukhoi 30, India's largest fighter fleet from Russia, have seen a lot of technical difficulties due to which several jets have been grounded for long periods of times, the reason being the immediate unavailability of spare parts, which have to be ordered from outside, making the process time consuming. 
 
Because of this, at any given point of time, only 50-55% of the IAF jet fleet is operational. With setting up a spare hub, the aim is to increase this to at least 75%. 
 
As per ET sources, HAL is looking to invest over Rs 2,000 crore for this spares hub, in which all parts needed for the fleet will be stored so that they can be made available anytime they are needed. India and Russia are expected to sign a long-term spares agreement for this, which will help in reducing the amount of time these jets are unfit for operations. 
 
As per the new agreement, the Indian Air Force will be sourcing all its spares from HAL, as against the current practice of ordering them from outside, a lengthy process involving license, customs clearance and bank guarantees. 
 
<a href="http://defenceforumindia.com/jh4cz/assets/SU-30_MKI_Lajes.jpg">Image source</a>

HAL to invest Rs. 2000 crores in spare hub for Sukhoi 30 jets

In a major boost to <a href="http://www.businessinsider.in/searchresult.cms?query=indian+air+force&amp;sortorder=effectivedate">Indian Air Force</a>, indigenously built Light Combat Aircraft (LCA),‘<a href="http://www.businessinsider.in/searchresult.cms?query=tejas&amp;sortorder=effectivedate">Tejas’</a>, was inducted today at an event in Bengaluru. 
 
State-run <a href="http://www.businessinsider.in/searchresult.cms?query=HAL&amp;sortorder=effectivedate">Hindustan Aeronautics Limited</a> (HAL) handed over the first two ‘Made in India’ Tejas aircraft to the <keyword id="15141" type="ORGANIZATION" weightage="20" keywordseo="Indian-Air-Force">Indian Air Force</keyword> (IAF), which will make up the 'Flying Daggers' 45, the name of the first squadron of the LCA. 
 
The induction ceremony started early morning at the Aircraft System Testing Establishment in the presence of Air Marshal Jasbir Walia, Air Officer Commanding-in Chief, Southern Air Command. 
 
The squadron will be based in Bengaluru for the first two years before being moved to Sulur in Tamil Nadu. 
 
<a href="http://www.businessinsider.in/searchresult.cms?query=arup+raha&amp;sortorder=effectivedate">Air Chief Marshal Arup Raha</a>, who on May 17 took his in Tejas, had termed the aircraft as fit to be inducted. 
 
Stating that LCA squadron should be formed by July, <a href="http://www.businessinsider.in/searchresult.cms?query=manohar+parrikar&amp;sortorder=effectivedate">Defence Minister Manohar Parrikar</a> had earlier this month said, "Next year I think two MiG-21 squadrons are being decommissioned; this will go into initially replacing them." 
 
LCAs are better than the MiGs which are old and their parts are difficult to get, he had said. 
 
All squadrons of Tejas will have 20 planes in total, including four in reserve. 
 
As per the plan, while 20 would be inducted under the "Initial Operational Clearance", another 20 will be inducted later with Beyond Visual Range Missile (BVR) and some other features. 
 
IAF plans to induct over 80 aircraft with better specifications known as Tejas 1A.

'Made in India' light combat aircraft ‘Tejas’ inducted in Air Force

Foreign fighter jet makers see a multi-billion dollar opportunity in India's decision to scale back purchases of high-end aircraft from France, which may free up cash in the world's largest arms importer to buy a new fleet of mid-range planes.

	 
	<keyword id="71" type="POSITION" weightage="80" keywordseo="Prime-Minister">Prime Minister</keyword> <keyword id="6354477" type="PERSON" weightage="80" keywordseo="Narendra-Modi">Narendra Modi</keyword> announced last week that India would buy 36 French Rafale jets for an estimated $4.3 billion, in effect ending talks on a larger deal for 126 planes that would have sucked up some $20 billion and locked rivals out of the market for a generation.<o:p></o:p>

	<keyword id="23050" type="COUNTRY" weightage="80" keywordseo="Sweden">Sweden</keyword>'s <keyword id="6424383" type="COMPANY" weightage="80" keywordseo="Saab">Saab</keyword> and U.S. <keyword id="112859" type="CITY" weightage="80" keywordseo="Lockheed-Martin">Lockheed Martin</keyword> are set to re-pitch their Gripen and F-16 planes, eliminated in the Rafale tender, as the kind of lighter, single-engine aircraft that <keyword id="6366153" type="POSITION" weightage="80" keywordseo="Defence-Minister">Defence Minister</keyword> <keyword id="6363133" type="PERSON" weightage="80" keywordseo="Manohar-Parrikar">Manohar Parrikar</keyword> said on Monday the <keyword id="6354954" type="ORGANIZATION" weightage="80" keywordseo="Air-Force">air force</keyword> needed to rebuild its fleet.<o:p></o:p>

	"We are here and we are ready," said a source close to Saab. Saab was proposing to establish "fully-fledged production" of the Gripen in India alongside a local partner.<o:p></o:p>

	Lockheed Martin may also tout its F-16, one of the most widely used fighter planes in the world, as a replacement for Russian-made MiGs that are a mainstay in India's fleet, industry sources said. Lockheed Martin declined to comment.<o:p></o:p>

	"The light combat aircraft opportunity is going to be there in the near future because the MiGs have to be replaced really fast," said Delhi-based defence commentator and analyst Neelam Mathews.<o:p></o:p>

	Russia, traditionally India's largest arms supplier, is hopeful it can sell more of its Sukhoi Su-30s, a plane partly assembled in India, to tide over the air force while it waits two years to receive the first Rafales.<o:p></o:p>

	Foreign manufacturers have also welcomed India's decision to negotiate directly with the French government for further Rafales.<o:p></o:p>

	"What is positive about the announced Rafale deal is that purchase is supposed to be based on a government-to-government agreement. We have been asking the Indian side for a long time to get back to this practice instead of tenders," said one Russian diplomat.<o:p></o:p>

	Moscow wants to speed up the conclusion of talks with India for the joint manufacture of a new generation stealth fighter jet, the diplomat said.<o:p></o:p>

	TWO-FRONT CHALLENGE<o:p></o:p>

	India needs to replenish an air force fleet that has fallen to 34 operational squadrons, down from 39 earlier this decade and below the government-approved strength of 42 considered necessary to face a two-front challenge from Pakistan and China.<o:p></o:p>

	Parrikar said on Monday that India needed 100 new light combat aircraft within five years to replace the MiG-21s, and that the heavier and pricier Rafale was not the plane to do it.<o:p></o:p>

	His preference would be for the indigenously-made Tejas to fill the void. But Parrikar himself has admitted the jet, in development for three decades, has limitations while the latest version still awaits final clearance.<o:p></o:p>

	Either way, air force officials and industry sources say India is unlikely to buy anything like the 126 planes agreed in the original deal with France after all-in costs doubled to an estimated $20 billion.<o:p></o:p>

	Parrikar said he had not decided how many more Rafales he might buy. Manufacturer <keyword id="6407804" type="COMPANY" weightage="80" keywordseo="Dassault">Dassault</keyword> Aviation could also pitch its single-engine Mirage if India opts for something cheaper.<o:p></o:p>

	Foreign planemakers may need to join forces with an Indian state-run or private partner to win orders, especially if Modi is to realise his goal of developing a military industrial base.<o:p></o:p>

	Under the original deal with Dassault, 108 of the jets were to be produced at a state-run <keyword id="86569" type="COMPANY" weightage="80" keywordseo="Hindustan-Aeronautics-Limited">Hindustan Aeronautics Limited</keyword> (HAL) plant. But the two sides could not agree terms.<o:p></o:p>

	Such disagreements could open up opportunities for nascent private players to partner foreign manufacturers and build locally, experts said.<o:p></o:p>

	"This could be Rafale, or any other aircraft as long as the government is able to address the core issues of tech transfer, joint production and design collaboration," said M. Matheswaran, a former Air Marshal and adviser to Hindustan Aeronautics.<o:p></o:p>

After Rafale, could US' Lockheed Martin and Sweden's Saab be India-bound with new, revised jet-deals?

<ul><li>New deal saved 2.86% for the Indian exchequer, says India's federal auditor.</li><li>Latest report tabled in the Parliament will help Modi in fighting corruption charges from the opposition.</li><li>Opposition had hoped to corner the Modi government over the controversial defence deal.</li></ul> The Narendra Modi government struck a better deal than the Congress, that's the verdict from the <keyword id="6379775" type="UNKNOWN" weightage="20" keywordseo="Comptroller-and-Auditor-General-of-India">Comptroller and Auditor General of India</keyword> (CAG), the country's federal auditor, which tabled its report on the controversial 2015 deal to buy 36 Rafale jets from French company Dassault, according to news reports. "Compared to the 126 aircraft deal, India managed to save 17.08% money for the India-specific enhancements in the 36 Rafale contract," news agency ANI said, adding that,"the delivery schedule of the first 18 Rafale aircraft is better than the one proposed in the 126 aircraft deal, by five months." However, the full price of the jets have been redacted in the report based on the insistence of the Defence Ministry citing the Indo-French agreement of 2008 and the provisions of inter-government agreement, another news agency IANS reported. In April 2015, Prime Minister Narendra Modi had announced that India will buy 36 French-manufactured Rafale fighter jets off-the-shelf. This was a departure from the original plan, under the previous regime, under which India would buy 18 off-the-shelf jets and another 108 would be assembled by the state-run Hindustan Aeronautics Limited or HAL in Bengaluru. Modi , however, intervened and decided to buy 36 "ready-to-fly" fighters instead of trying to acquire technology from Dassault and make it in India. "A Defence Ministry team in March 2015 recommended the scrapping of the 126 Rafale deal saying that Dassault Aviation was not the lowest bidder and EADS (European Aeronautic Defence &amp; Space Company) was not fully compliant with the tender requirements," the CAG report said according to ANI. The opposition parties had cornered the incumbent Modi government alleging that the ₹590 billion deal was more expensive and it included kickbacks. It was also said that the deal was made to help Anil Ambani, whose Reliance Naval and Engineering was reportedly brought in to support Dassault. Both entities have denied this. Modi also faced a direct <a href="https://twitter.com/INCIndia/status/1093733762104524800/photo/1?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1093733762104524800&amp;ref_url=https%3A%2F%2Fwww.hindustantimes.com%2Findia-news%2Fdefence-ministry-note-proves-pm-bypassed-negotiations-with-france-on-rafale-deal-rahul%2Fstory-EUd4UAbFWTQ9lX6XODsLkM.html" data-type="tilCustomLink" target="_blank">charge</a> after news reports revealed that the Prime Minister's Office had intervened in the deal negotiations and in fact, dismissed the apprehensions of its own Defence Ministry. The latest report from CAG will be a big blessing for Prime Minister Narendra Modi who will be seeking re-election in the upcoming summer. However, the opposition was already prepared. Prior to the release of the report, the Congress party had pre-emptively dismissed the findings of the report, explaining that Rajiv Mehrishi, the current Comptroller and Auditor General of India, took part in the deal’s negotiations.

CAG report on Rafale deal is a blessing for Modi government

Bengaluru, Chief of Air Staff Air Chief Marshal Rakesh Kumar Singh Bhadauria flew the home-grown <keyword id="158152" type="PERSON" weightage="20" keywordseo="Light-Combat-Helicopter">Light Combat Helicopter</keyword> (LCH) over this aerospace city for an hour, an official said on Friday. "Bhadauria flew the twin-seater LCH for a hour, taking off around noon from our airport in the city's eastern suburb, with our deputy chief test pilot Wing Commander (Retd) S.P. John," a Hindustan Aeronautics Ltd (<keyword id="68124" type="COMPANY" weightage="20" keywordseo="HAL">HAL</keyword>) official told IANS here. The Air Chief, who is in the city to unveil the 59th annual conference of the Indian Society of Aerospace Medicine, undertook the sortie in the HAL-made LCH for the first time, as a co-pilot, dressed in a fighter pilot suit. Designed and developed by the city-based state-run defence behemoth (HAL), LCH is the world's multi-role lightest attack helicopter, with a highest flight ceiling. "The LCH has been certified by the relevant agency for induction into the IAF and the <keyword id="6354416" type="ORGANIZATION" weightage="20" keywordseo="Indian-Army">Indian Army</keyword> soon," said the official. The Defence Acquisition Council (DAC) had approved the proposal for initial batch of 15 LCHs. The IAF issued Request for Proposal (RFP) for 15 limited series production of the helicopter, including 5 for the Army. Bhadauria, who took over as the <keyword id="15141" type="ORGANIZATION" weightage="20" keywordseo="Indian-Air-Force">Indian Air Force</keyword> (IAF) in September 2019, also flew the HAL-made Light Combat Aircraft (LCA) Tejas on May 27, 2020 when it was inducted into the IAF's 18 Squadron (Flying Bullets) at the Sulur air base near Coimbatore in the neigbhouring Tamil Nadu state. SEE ALSO: <a href="https://www.businessinsider.in/tech/news/mumbais-massive-power-cut-last-month-may-have-been-the-work-of-hackers/articleshow/79318282.cms">Mumbai’s massive power cut last month may have been the work of hackers</a> <a href="https://www.businessinsider.in/stock-market/news/vodafone-idea-shares-jump-after-selling-stake-in-indus-towers-for-3760-crore/articleshow/79316662.cms">Vodafone Idea soars nearly 5% on fund infusion from Indus Towers stake sale</a> <a href="https://www.businessinsider.in/tech/apps/news/pubg-mobile-india-was-supposed-to-launch-today/articleshow/79315462.cms">PUBG Mobile India was rumoured to launch today — but there is no official update from the company</a>

Indian Air Force chief flies HAL's home-grown Light Combat Helicopter ahead of its induction into the armed forces

If the talks go through, <keyword id="2852683" type="UNKNOWN" weightage="20" keywordseo="russian-helicopters">Russian Helicopters</keyword> may make around 140 choppers in India. 
 In a major breakthrough to <keyword id="2257489" type="UNKNOWN" weightage="20" keywordseo="PM-Narendra-Modi">PM Narendra Modi</keyword>’s ‘<keyword id="6354869" type="UNKNOWN" weightage="20" keywordseo="make-in-India">Make in India</keyword>’ initiative, Russian Helicopters is in talks with Indian counterparts for a contract for 200 choppers, out of which over 140 will be made in India. 
 
"We are now discussing terms and conditions for the contract and copter configuration," said Igor Chechikov, deputy CEO of Russian Helicopters (RH). 
 
The remaining 60 will be supplied from RH's existing manufacturing facilities in Russia. 
 
The work on 140 choppers will be planned out with Hindustan Aeronautics Ltd (HAL) and other partners. 
 
The helicopters will be made in India under a pact signed by Modi during his visit to Moscow in December. 
 
The choppers will be supplied in collaboration with Rosoboronexport, a state export agency. 
 
The ongoing discussions include the scope of setting up a helicopter plant in India which will be in partnership with a number of Indian entities including HAL. 
 
"We expect to produce more helicopters from India, given the country's demand for a wide range of defence and security related equipment," Chechikov said, pointing to the potential of growing the joint venture business as well as technology and knowhow between the two countries. 
 
India has a fleet of over 450 Russian helicopters operating all of which were supplied over the last three decades in various phases. 
 
He also stressed on supporting the Russian hardware by establishing an after sales maintenance hub in India in the coming years. 
 
"India is a very strategic market with a huge demand for helicopters," he said at the Singapore Airshow 2016. 
 
Russian helicopters are widely used by the Indian air force, navy and border security force. 
 
RH is showcasing a wide range of its technology-savvy helicopters and aircraft at the air show for the South East Asian markets.

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