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<keyword id="19896016" type="General" weightage="20" keywordseo="new-delhi" source="keywords">New Delhi</keyword>, Auto components major Bharat <keyword id="19946646" type="General" weightage="20" keywordseo="forge" source="keywords">Forge</keyword> on Wednesday announced the elevation of <keyword id="20424763" type="General" weightage="20" keywordseo="amit-kalyani" source="keywords">Amit Kalyani</keyword>, son of its Chairman and <keyword id="21182717" type="General" weightage="20" keywordseo="md-babasaheb-n-kalyani" source="keywords">MD Babasaheb N Kalyani</keyword>, as Vice-Chairman and Joint Managing Director of the company. The board of directors of the company in its meeting held on April 3, 2024, approved the re-appointment of Amit Kalyani as a whole-time director designated as "Vice-Chairman and Joint Managing Director" for a further term of five years commencing from May 11, 2024 till May 10, 2029, Bharat Forge said in a regulatory filing. Amit Kalyani's present tenure as Joint Managing Director will conclude on May 10, 2024, it added. He was elevated as Deputy Managing Director in 2019 and as Joint Managing Director in 2023. He has been associated with Bharat Forge since 1999, starting his career focusing on operations &amp; manufacturing before moving on to IT and <keyword id="19955404" type="General" weightage="20" keywordseo="finance" source="keywords">Finance</keyword>, the company said. Since May 2004, he has been the company's Executive Director and played a key role in strategy and execution of several acquisitions and also played a key role in the company diversifying its business by pioneering into new ventures, it added.

Amit Kalyani to become Vice-Chairman & Jt MD of Bharat Forge

<ul><li>The stock listed at ₹433 as compared to its issue price of ₹331 per share.</li><li>Its market cap for the company is at ₹9,850 crore crore as per Bombay Stock Exchange. </li></ul><keyword id="20065270" type="General" weightage="20" keywordseo="jyoti-cnc-automation" source="keywords">Jyoti CNC Automation</keyword> debuted on the stock exchanges on Tuesday at a 12.3% premium in the morning trade. However, it later gained speed and closed its debut day with 30% listing gains on Tuesday. This is much higher than the grey market’s expectations of 13% listing gains. The stock closed at ₹433 which is ₹102 higher than the issue price of ₹331 per share. <keyword id="20052498" type="General" weightage="20" keywordseo="jyoti-cnc" source="keywords">Jyoti CNC</keyword>’s market cap is at ₹8,460 crore as per Bombay Stock Exchange. The ₹1,000 crore initial public offer (IPO) of the company was subscribed 41 times the shares on offer. The year of 2023 has been good market debuts with many stocks providing investors with <a href="https://www.businessinsider.in/stock-market/news/ipo-gold-rush-all-but-4-ipos-in-fy24-gave-positive-returns-on-listing/articleshow/104174040.cms">positive listing gains</a>. Here are the listing gains of the last few market debuts <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Company </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Listing gains </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Innova Captab </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">21% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Azad Engineering </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">29% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Doms </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">77% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Tata Technologies </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">162% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Gandhar Oil </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">78% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">IREDA </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">87% </td></tr></tbody><tbody></tbody></table> The company is a manufacturer of metal cutting computer numerical control (<keyword id="20013268" type="General" weightage="20" keywordseo="cnc" source="keywords">CNC</keyword>) machines. It is a global leader in CNC machine manufacturing, commanding the third largest market share in India with 10% as of FY23. It’s the twelfth largest globally with 0.4% share in 2022. Some of its top clients include Space Applications Centre – ISRO, BrahMos, Turkish Aerospace, Tata Advanced System, Bharat Forge, <keyword id="20205862" type="General" weightage="20" keywordseo="kalyani-technoforge" source="keywords">Kalyani Technoforge</keyword> and more. It has vertically integrated operations which they consider essential to their ability to provide technologically relevant and customized solutions. “Led by chairman and managing director, Parakramsinh Ghanshyamsinh Jadeja, their integrated approach across operations prioritizes customization, reduced delivery timelines, and robust after-sales support. Their pioneering '7th Sense' solution aligns with 'Industry 4.0', automating machine diagnostics for heightened productivity,” says a report by Ventura Securities. “We believe <keyword id="19953183" type="General" weightage="20" keywordseo="jyoti" source="keywords">Jyoti</keyword> CNC is poised to benefit from the ongoing capex cycle and should see healthy growth over the medium term owing to a strong order book,” says Indsec Securities which assigns a ‘subscribe’ rating to the IPO. The 20-year old Gujarat based company has three facilities — two in Rajkot and one in Strasbourg, France, with a capacity of 4,400 machines per annum in India and 121 machines per annum in France.

Jyoti CNC Automation closes debut day with 30% listing gains

Baba Kalyani, chairman of <a href="http://www.businessinsider.in/searchresult.cms?query=bharat+forge">Bharat Forge</a>, and his family have been dragged to court by the young niece, Sheetal Kalyani, demanding her share in ancestral wealth. 
 
Sheetal, 27, has claimed one-ninth of the family estate and demanded her share of stakes in listed companies. 
 
The case is slated for second hearing on November 05. 
 
Four grandchildren of the Kalyani family's patriarch Vijaypat Singhania had approached the Bombay High Court seeking ancestral rights to properties. 
 
Reportedly, Ananya, Rassalika, Tarini and Raivat Hari, the children of Vijaypat Singhania's estranged son Madhupati, accused Baba Kalyani of ignoring them during the partition of family assets. 
 
Experts point out that younger generation of affluent families demand their share as they are well aware of the outside world. They say that to avoid such circumstances, business families should structure their wealth in advance to maintain peace. 
 
Bharat Forge has value of Rs 19,000 crore with profitable subsidiaries in Germany. 
 
(Image: Thinkstock)

Chairman of Bharat Forge, Baba Kalyani, in legal trouble as niece files suit, claims one-ninth of the estate as her share

New Delhi, Jul 8 () Auto components major Bharat Forge Ltd on Wednesday said it has launched health risk monitoring system (HRMS), which enables companies and institutions to comply with home ministry guidelines for safe reopening, in collaboration with artificial intelligence startup Blackstraw. HRMS primarily consists of two major components -- a contactless thermal screening system integrated with RFID badge reader and AI algorithms running on surveillance CCTV cameras to monitor and control human behaviour. The contactless thermal screening system with RFID badge reader records temperature of associates at high speed with accuracy and also maintains an automatic daily record of the temperature of every person entering and exiting the premises, the company said in a statement. On the other hand, the AI (artificial intelligence) algorithms running on surveillance CCTV cameras alerts administrators and provides them a dashboard when social distancing norms are not met or if an employee is not wearing a face mask. These alerts and dashboards are then reviewed to drive sustainable behaviour change across the enterprise, it added. Commenting on the launch, Bharat Forge Ltd Chairman and Managing Director Baba Kalyani said safety norms have become more stringent with this pandemic. "We have inducted Artificial Intelligence and technological intervention to further safeguard people's health by creating an environment that is anxiety-free and fosters growth. We have developed HRMS to reduce manual interference and keep an effective check on safety norms. This technological approach has ensured maximum safety for employees," he added. Blackstraw CEO Atul Arya said the partnership with Bharat Forge has led to development of a range of video analytic products over the last year. "HRMS has been a quick and timely assembly of technological components developed over time for an immediate need. We strongly believe that this platform which will not only safeguard companies and their employees but will also help reinstate confidence and normality," he added. Bharat Forge said HRMS is ideal for deploying in high–footfall areas like educational campuses, hospitals, gated communities, retail stores, railway stations, airports and transit points to monitor individual and societal health. Presently, it is being deployed at The Kalyani School in Pune and all critical facilities of the company pan-India. Bharat Forge Ltd has partially resumed operations at its manufacturing facilities by taking several safety measures. It has added HRMS as a crucial tool to help prevent the spread of COVID-19 infection, thereby creating a safe environment for its thousands of employees entering and exiting the facility, it added. "The company also intends to make the developed HRMS system available widely across schools and enterprises which will help them to safely reopen their premises and businesses respectively, during these tough times," the statement said. RKL RUJ RUJ

Bharat Forge launches health risk monitoring system for COVID-19 SOPs

New Delhi, Feb 10 () Auto components major Bharat Forge on Monday reported a 81.37 per cent decline in its consolidated net profit at Rs 40.44 crore for the third quarter ended December 31, 2019. The company had posted a consolidated net profit of Rs 216.96 crore in the same period last fiscal, Bharat Forge said in a regulatory filing. Total income during the period under review stood at Rs 1,868.05 crore, as against Rs 2,516.7 crore in the year-ago quarter, it added. "The quarter gone by was a repeat of the previous quarter in terms of weak market demand and financial performance," Bharat Forge Chairman and Managing Director B N Kalyani said. Domestic and export revenues were down more than 30 per cent in the third quarter as compared to the year-ago period, he added. Kalyani, however, said passenger vehicle business continued to stand out across both domestic and export markets with strong performance against underlying demand and grew by 8.7 per cent. He said the company's international operations in Europe have also been badly impacted by the decline in end market. "We have initiated restructuring and cost optimisation actions. These actions coupled with investing in creating capacity towards a favourable product mix will eventually result in a sustainable and stronger business overseas," he added. On the outlook, he said, "over the next three to six months we expect demand to remain soft given the uncertainty in India due to the transition to BS-VI and continuation of weakness in North America and Europe." He, however, added that the "phase of sequential decline in the financial performance for the company is nearing an end and the new phase of growth will commence in FY21". The convergence of cost reduction initiatives and business development will enable the company to come out stronger from this current downturn, he said. RKL DRR

Bharat Forge Q3 net dips 81 pc to 40 cr

<keyword id="45365" type="PERSON" weightage="20" keywordseo="Bharat-Forge">Bharat Forge</keyword>, India’s high technology component firm has entered into a partnership with French multinational aerospace and security giant to supply high integrity forged and machined components for commercial aircraft applications of <keyword id="412278" type="PERSON" weightage="20" keywordseo="Safran">Safran</keyword>’s global affiliates. 
	 
	The companies have been working together for the past 18 months on a demonstrator phase for trial production of critical forgings in several materials for aerospace. These materials include titanium, nickel-based and steel alloys. The agreement will also facilitate Safran to explore opportunities and expand its reach in Indian aerospace for civil and military sectors. 
	 “The partnership highlights our unwavering commitment to add tangible value to the vast opportunities offered by the Indian aerospace sector and confirms our resolve to strengthening our partnership for supplying forged components to Safran’s global affiliate network,” said <keyword id="737365" type="UNKNOWN" weightage="20" keywordseo="BN-Kalyani">BN Kalyani</keyword>, chairman and managing director of Bharat Forge. 
	 
	Commenting on the association, Stephane Lauret, CEO, Safran India Private Limited, “This latest development reflects our two companies’ commitment to expanding our collaboration for the benefit of our customers in India and abroad.” 
	 
	The deal was sealed with Purchase Order being issued by Safran.

Bharat
Forge Inks Deal With French Aerospace Giant Safran

Mumbai, Mar 31 () Pune-based Kalyani group on Tuesday said it will contribute financial assistance worth Rs 25 crore to the Prime Minister's Citizen Assistance and Relief in Emergency Situations Fund (PMCARES Fund) to fight against coronavirus pandemic.Besides the flahship company Bharat Forge, the other Kalyani group companies are Kalyani Steel, Saarloha Advanced Material, Automotive Axles and Hikal Ltd.Bharat Forge and other Kalyani Group companies have pledged assistance via direct contribution of Rs 25 Crores to the PMCARES Fund to fight against the COVID-19 pandemic, the group said in a statement."The group is committed to assist the central and state government and the local authorities in all possible ways to deal with the pandemic. We are also using our group R&amp;D facilities to look at ways of easing the shortage of critical medical equipment's, including ventilators, Respiratory equipment and other sanitation/hygiene equipment."As part of our CSR activity we have started addressing the food requirements of the local community and will increase the efforts in the coming days," Bharat Forge Chairman Baba Kalyani said. IAS BALBAL

Kalyani Group pledges Rs 25 crore to PM Fund

New Delhi, Mar 31 () Auto components major Bharat Forge, the flagship company of Kalyani Group, and other group firms on Tuesday pledged Rs 25 crore contribution to the Prime Minister's Citizen Assistance and Relief in Emergency Situations Fund (PM-CARES) to fight against the coronavirus pandemic. The group is also looking at using its R&amp;D facilities to meet requirements of critical medical equipment such as ventilators, respiratory equipment and other sanitation/hygiene goods. The other group companies involved in the donation are Kalyani Steel, Saarloha Advanced Material Pvt Ltd, Automotive Axles and Hikal Ltd, the group said in a statement. Bharat Forge Chairman Baba Kalyani said, "The group is committed to assist the central and state government and the local authorities in all possible ways to deal with the pandemic." He further said, "We are also using our group R&amp;D facilities to look at ways of easing the shortage of critical medical equipments, including ventilators, respiratory equipment and other sanitation/hygiene equipment." Kalyani said as part of CSR activity, the group has started addressing food requirements of local community and will increase the efforts in the coming days. RKL RKL ABMABM

Kalyani Group contributes Rs 25 cr to PM-CARES to fight coronavirus pandemic

<ul><li>Jyoti CNC IPO’s retail investor portion of the issue was subscribed 11x on the second day of the issue.</li><li>It’s a Gujarat based manufacturer of metal cutting computer numerical control (CNC) machines.</li><li>The entirely fresh issue intends to raise as much as ₹1,000 crore. </li></ul>The ₹1,000 crore initial public offer (IPO) of <keyword id="2201348" type="General" weightage="20" keywordseo="jyoti-cnc-automation" source="Orion">Jyoti CNC Automation</keyword> was subscribed 3.9 times the shares on offer, on the second day of the issue. The retail portion of the issue was subscribed 11 times over, while the non-institutional investor portion was subscribed 6.4 times. The company is a manufacturer of metal cutting computer numerical control (CNC) machines. It has raised ₹448 crore from 37 anchor investors ahead of opening the issue to the public. Some of its marquee investors are Nomura Funds Ireland, Goldman Sachs Funds, Bajaj Allianz Life Insurance Company, ICICI Prudential and more. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Type of investor </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">No of times subscribed </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Qualified Institutional Buyers </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">0.22 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Non-institutional Investors </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">6.49 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Retail </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">11.08 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Total </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">3.92 </td></tr></tbody><tbody></tbody></table> Source: BSE Jyoti CNC Automation is the global leader in CNC machine manufacturing, commanding the third largest market share in India with 10% as of FY23. It’s the twelfth largest globally with 0.4% share in 2022. Some of its top clients include Space Applications Centre – ISRO, BrahMos, Turkish Aerospace, Tata Advanced System, Bharat Forge, Kalyani Technoforge and more. It has fixed a price band of ₹315-331 per equity share for its entirely fresh issue. Investors can bid for 45 equity shares and in multiples of 45 equity shares thereafter. The company intends to use proceeds from the issue towards working capital needs, loan payment, and for general corporate purposes. It has vertically integrated operations which they consider essential to their ability to provide technologically relevant and customized solutions. “Led by chairman and managing director, Parakramsinh Ghanshyamsinh Jadeja, their integrated approach across operations prioritizes customization, reduced delivery timelines, and robust after-sales support. Their pioneering '7th Sense' solution aligns with 'Industry 4.0', automating machine diagnostics for heightened productivity,” says a report by Ventura Securities. The 20-year old Gujarat based company has three facilities — two in Rajkot and one in Strasbourg, France, with a capacity of 4,400 machines per annum in India and 121 machines per annum in France. “We believe Jyoti CNC is poised to benefit from the ongoing capex cycle and should see healthy growth over the medium term owing to a strong order book,” says Indsec Securities which assigns a ‘subscribe’ rating to the IPO.

Jyoti CNC Automation IPO subscribed 3.9x on day 2

<ul><li>India’s defence manufacturing industry will have more contracts coming its way with the Indian government banning the import of 101 defence items. </li><li>The share price of companies like L&amp;T, BHEL, Bharat Forge and others rallying in the stock market today. </li><li>Hindustan Aeronautics Limited’s (HAL) share price was up by over 8% in early morning trade.</li></ul>The Indian government’s ban on the import of 101 defence weapons and military platforms could bring an additional impetus for India’s defence companies. The share prices of companies like Bharat Heavy Electronics Limited (BHEL), Larsen &amp; Toubro (L&amp;T), Hindustan Aeronautics Limited (HAL), Bharat Forge and others are rallying in the stock market today. HAL opened a whopping 8% above Friday’s closing. The ban on big-ticket items like the Light Combat Aircraft (LCA) MK I A is a huge boon for the aircraft manufacturing company. <div type="image" title="HAL" msid="77455556" hostid="261" caption="&amp;lt;p&amp;gt;HAL&amp;#39;s share price since 1 January 2020&amp;lt;/p&amp;gt;"></div> The other behemoth in the defence space, L&amp;T, saw its share price go up by over 2% in early morning trade. It has the most to gain from this new move coupled with the overarching Defence Production and Export Promotion Policy (DPEPP) 2020. Not only does the company manufacture for the Army but for the Navy as well. <div type="image" title="L&amp;amp;T" msid="77455576" hostid="261" caption="&amp;lt;p&amp;gt;L&amp;amp;amp;T&amp;#39;s share price since 1 January 2020&amp;lt;/p&amp;gt;"></div> Bharat Forge's chairman and managing director, Baba Kalyani, welcomed the India's government's move to ban 101 defence items. "This strategic step will propel the Atmanirbhar Bharat " he said. As markets opened today morning, the Bharat Forge's shared price jump by over 5%. <div type="image" title="Bharat Forge" msid="77455611" hostid="261" caption="&amp;lt;p&amp;gt;Bharat Forge&amp;#39;s share price since 1 January 2020&amp;lt;/p&amp;gt;"></div> Cochin Shipyard also saw its stock in the green, up by nearly 4%. Its one of the few companies that manufactures items for the Indian Navy. Even though the company was not immune to the effects of the coronavirus pandemic and the ensuing lockdown, it still managed to post a 44% jump in profits year-on-year in the fourth quarter. The true impact of the uncertainty with be reflected in its first quarter earnings, which are set to be announced later today. <div type="image" title="Cochin Shipyard" msid="77455589" hostid="261" caption="&amp;lt;p&amp;gt;Cochin Shipyard&amp;#39;s share price since 1 January 2020&amp;lt;/p&amp;gt;"></div> BHEL’s share price saw a jumped of nearly 3%. The company saw a troubled fourth quarter will sales dipped by 54% and a net loss of ₹ 1,532 crore. Due to the impact of COVID 19 and the uncertain circumstances, the board of BHEL also refrained from recommending the final dividend for the financial year. <div type="image" title="BHEL" msid="77455623" hostid="261" caption="&amp;lt;p&amp;gt;BHEL&amp;#39;s share price since 1 January 2020&amp;lt;/p&amp;gt;"></div> The publicly owned BEML's share price also saw a surge of over 4%. Just last month, the company bagged a ₹ 557 crore order from the Ministry of Defence (MoD) to supply 1,512 Track Width Mine Ploughs (TWMPs). Its a demining piece of equipment used by India's Bhishma T-90 tanks. <div type="image" title="BEML" msid="77456083" hostid="261" caption="&amp;lt;p&amp;gt;BEML&amp;#39;s share price since 1 January 2020&amp;lt;/p&amp;gt;"></div> Even though the ban will be implemented in a phased manner with a deadline of coming into full effect by December 2025, many items will be shunned as soon as December this year. This includes big-ticket items like the Light Combat Aircraft (LCA) MK I A and smaller tit-bits like bulletproof jackets and ballistic helmets. Boon for India’s domestic defence manufacturing <table style="border-width: initial; border-style: none; width: 468pt; table-layout: fixed;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Branch of the Armed Forces </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Companies to Benefit </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Indian Army </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">L&amp;T, BHEL, Bharat Forge, BEML, BEL and Bharat Dynamic </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Indian Navy </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Garden Reach, Cochin Shipyard, and L&amp;T </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Indian Air Force </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">HAL and Dynamatics Technologies </td></tr></tbody></table>Source: Reliance Securities According to Rajnath Singh, India’s Minister for Defence, the aim is not only to reduce India’s dependence on imports and boost the domestic market but also to one day export defence items to the rest of the world. He estimates that contracts worth nearly ₹4 lakh crore will be placed upon the domestic industry within the next six to seven years. SEE ALSO: <a href="https://www.businessinsider.in/defense/news/indias-defence-ministry-introduces-import-embargo-on-101-items-to-boost-atmanirbhar-bharat-abhiyan/articleshow/77442031.cms">India’s Defence Ministry introduces “import embargo” on 101 items to boost Atmanirbhar Bharat Abhiyan</a> <a href="https://www.businessinsider.in/india/news/all-the-101-items-that-indias-defence-ministry-will-put-under-import-embargo/articleshow/77442138.cms">All the 101 items that India's Defence Ministry will put under "import embargo"</a>

HAL’s share price jumps by over 8% as defence stocks rally after India announces import ban

New Delhi, Jan 9 () The commerce and industry ministry on Thursday held a meeting with special economic zone (SEZ) players and discussed ways to further promote growth of the sector, an official said.
 The meeting took up certain suggestions from Bharat Forge Chairman Baba Kalyani-led committee on SEZ that are not yet implemented, the official said.
 One of the members of this committee, Srikanth Badiga, said issues related to further improving ease of doing business for these zones were also discussed.
 The industry demand to extend the direct tax incentives to SEZ units beyond March 31 also figured in the meeting.
 In the Budget 2016-17, the government had stated that income tax benefits to new SEZ units would be available to only those units that commence activity before March 31, 2020.
 Units in SEZs enjoy 100 per cent income tax exemption on export income for the first five years, 50 per cent for the next five years thereafter and 50 per cent of the ploughed-back export profit for another five years.
 SEZs, which emerged as major export hubs in the country, started losing their sheen after the imposition of Minimum Alternate Tax and introduction of sunset clause, according to the industry.
 Exports from these zones stood at over Rs 7 lakh crore in 2018-19. RR HRS

Commerce ministry holds meeting with SEZ players to discuss issues

<keyword id="25455" type="ORGANIZATION" weightage="20" keywordseo="finance">Finance</keyword> Minister <keyword id="42575" type="PERSON" weightage="20" keywordseo="Arun-Jaitley">Arun Jaitley</keyword> arrived here today on a six-day visit during which he will meet Japanese Prime Minister <keyword id="590894" type="PERSON" weightage="100" keywordseo="Shinzo-Abe">Shinzo Abe</keyword> as well as several key investors to sell the India growth story. During his visit, he will meet <keyword id="163404" type="COMPANY" weightage="20" keywordseo="Softbank">SoftBank</keyword> CEO <keyword id="357983" type="PERSON" weightage="20" keywordseo="Masayoshi-Son">Masayoshi Son</keyword> to discuss investment opportunities India presents to the Japanese telecom giant. SoftBank has already made a string of tech investments in India and has announced plans for raising it to USD 10 billion over the next decade. Jaitley will also meet Osamu <keyword id="6911" type="CITY" weightage="20" keywordseo="suzuki">Suzuki</keyword>, Chairman of <keyword id="111052" type="CITY" weightage="20" keywordseo="Suzuki-Motor">Suzuki Motor</keyword>, the biggest Japanese investor in automobile sector in India. 

	Meeting with Abe is planned for tomorrow when he will also attend the 22nd International Conference on 'The Future of Asia' organised by Nikkei Inc. 
 

	On May 31, he would participate in 'The Future of Asia' conference and in the afternoon he will deliver keynote address at the roundtable on National Investment &amp; Infrastructure Fund (NIIF). 
 

	The government is looking at attracting investors to the Rs 40,000-crore NIIF, which is an investment vehicle for funding commercially viable greenfield, brown-field and stalled projects. It will have 49 per cent holding in NIIF and the rest will be of private investors. 
 

	In the evening Jaitley will have meetings with Government Pension Investment Fund (GPIF) President Norihiro Takahashi and Japan Overseas Infrastructure Investment Cooperation for Transport and Urban Development (JOIN) .. 
 

	He will also meet CEOs at a meeting organised by the Japan-India Business Cooperation Committee next day and address the Institute For International Economic Studies (IIES) Symposium on Indian economy. 
 

	Besides, meetings with Japan International Cooperation Agency (JICA) President Shinichi Kitaoka and Hitachi Chairamn Hiroaki Nakanishi are also planned. 
 

	Jaitley will leave for Osaka on June 1 evening and the next day deliver a Lecture on 'India: Political, Social and Economic Change' at Osaka University. 
 

	Later in the evening, the minister will participate and address the Make in India Investment Promotion Seminar and meet select Japanese CEOs and CII delegation. 
 

	The CII CEO delegation includes senior industry leaders like Naushad Forbes, President, CII and Co-Chairman, Forbes Marshall Pvt Ltd, Punj Llyod Chairman Atul Punj, Bharat Forge executive director Amit B Kalyani, DCM Chairman and Managing Director Ajay S Shriram and Wipro's Japan head Naohide Takatani. 
 

	On June 3, Jaitley will return to Tokyo for more meetings including with officials of Sumitomo Mitsui Banking Corp and Eastspring Investments.

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