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INS Beas is the first of Brahmaputra Class Frigate to be re-powered from steam to diesel propulsion. After completion of Mid Life Upgrade and Re- Powering in 2026, INS Beas will join the active fleet of the Indian Navy with a modernized weapon suite and upgraded combat capability. The transformative maiden re-powering project marks a significant stride in the maintenance philosophy of the Indian Navy and repair capabilities of CSL. The project would involve more than 50 MSMEs and would lead to generation of employment for more than 3500 personnel, the defence ministry said.

Cochin Shipyard bags Rs 313cr deal to upgrade Indian Navy warship

<ul><li>The 30-share BSE index Sensex was up 228 points, and the NSE Nifty rose 0.59% at 9:55 am. </li><li>Here’s a list of the top losers and gainers in the Nifty pack. </li><li>These are the top stocks that are buzzing 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 indices opened on a higher note on Friday, tracking gains in index majors HDFC Bank, ICICI Bank and TCS amid positive cues from the global markets. The 30-share BSE index Sensex was up 228 points, and the NSE Nifty rose 0.59% at 9:55 am. Here’s a list of the top losers and gainers in the Nifty pack. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top Nifty Gainers </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top Nifty Losers </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Tata Motors </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Shree Cement </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Tata Steel </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">UltraTech Cement </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Adani Ports </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">GAIL </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Maruti </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">HUL </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Power Grid </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">JSW Steel </td></tr></tbody></table>*as of October 23, 10:00 am These are the top stocks in news today. SBI Cards plunge over 10% The shares of SBI Cards opened nearly 10% lower after the company reported a 46% dip in its net profit to ₹206 crore for the second quarter ended September 30. Bad loans due to spike in loan defaults remained the concern with its gross non-performing assets (NPAs) rising to 4.3% compared to the same period last year. Bharti Infratel gains over 3% Bharti Infratel shares soared over 3% after the telecom infrastructure firm’s overall revenue grew by about 2% to ₹3,695 crore during the second quarter ended September 30. However, its consolidated net profit dropped 24% to ₹733 crore for the quarter. MphasiS up over 4% The shares of IT services company MphasiS gained over 4% after its gross revenue grew 12.9% YoY in the second quarter ended September 30. The company said its net profit grew 9.5% YoY to ₹299.2 crore. Biocon dips 1% post earnings The shares of Kiran Mazumdar-Shaw led biopharmaceutical company Biocon dipped over a percent after the company reported a 23.8% drop in its net profit to ₹200.40 crore. The profit plunge is despite the 11.33% growth in its total revenue to ₹1,744.80 crore. Zydus Cadila and Dr Reddy Laboratories up 1%, Cipla gains 2% The shares of Pharma major Cipla, Zydus Cadila and Dr Reddy Laboratories were trading in green during the early hours of market opening. The boost comes in after the US regulators have given full approval for the antiviral drug remdesivir to treat COVID-19 patients in hospitals. The US Food and Drug Administration (FDA) said Veklury, the drug's brand name, cut the recovery time on average by five days during clinical trials. Avenue Supermarts gains 1%, Cochin Shipyard leaps 5% The shares of India’s largest shipbuilding and maintenance company, Cochin Shipyard gained over 5% after the founder of Avenue Supermarts, Radhakishan Damani bought 0.5% equity stake in the company for ₹394.14 per share. Avenue Supermarts also gained nearly a percent post the announcement. SEE ALSO: <a href="https://www.businessinsider.in/india/news/trump-calls-india-china-and-russia-filthy-while-justifying-exit-from-paris-agreement/articleshow/78821267.cms" data-type="tilCustomLink">Trump calls India, China and Russia ‘filthy’ while justifying exit from Paris Agreement</a> <a href="https://www.businessinsider.in/science/health/news/gileads-remdesivir-just-got-the-first-fda-approval-to-be-used-as-a-treatment-for-coronavirus-patients/articleshow/78818920.cms" data-type="tilCustomLink">Gilead's remdesivir just got the first FDA approval to be used as a treatment for coronavirus patients</a> <a href="https://www.businessinsider.in/stock-market/news/top-stocks-to-watch-cipla-zydus-cadila-dr-reddy-laboratories-tech-mahindra-avenue-supermarts-cochin-shipyard-and-others/articleshow/78820314.cms" data-type="tilCustomLink">Top stocks to watch — Cipla, Zydus Cadila, Dr Reddy Laboratories, Tech Mahindra, Avenue Supermarts, Cochin Shipyard, and others</a>

Top stock movers — Tata Motors, SBI Cards,  Cochin Shipyard, Zydus Cadila, Cipla, Dr Reddy’s, MphasiS, and others

<ul><li>The SGX Nifty was trading 0.06% lower at 7:45 am, indicating a tepid opening 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>Amidst mixed cues from the global markets, the Indian equities are likely to open flat on Friday. The SGX Nifty was trading 0.06% lower at 7:45 am, indicating a cautious opening for Nifty50. However, the US stocks closed higher on Thursday after Nancy Pelosi suggested that there has been progress and were ‘close’ to a stimulus deal. Dow Jones gained over 152 points, and the S&amp;P 500 ended 0.52% higher. These are the stocks to watch out for during the trading session on October 23: Tech Mahindra IT major Tech Mahindra’s US subsidiary will acquire 6.03% stake in US-based VitalTech Holdings, Inc for $3 million. The tentative date of closure of the transaction is October 26, it said in a regulatory filing. Tech Mahindra will also report its quarterly earnings today. The shares of Tech Mahindra ended 0.80% lower on Thursday. Cipla, Zydus Cadila, Dr Reddy Laboratories and other pharma companies The shares of Cipla, Zydus Cadila, Dr. Reddy Laboratories and other pharma companies will be in focus today. The US regulators have given full approval for the antiviral drug remdesivir to treat COVID-19 patients in hospitals. The US Food and Drug Administration (FDA) said Veklury, the drug's brand name, cut the recovery time on average by five days during clinical trials. HDFC AMC HDFC Asset Management Company has appointed KPMG as the internal auditor with immediate effect after Gautam Chandra, HDFC AMC’s former internal audit head resigned. The company also reported a 8% decline in profit after tax at ₹338.06 crore for the quarter ended September 30. The shares of HDFC AMC ended 1% higher on Thursday. Biocon Kiran Mazumdar-Shaw led biopharmaceutical company, Biocon reported a 23.8% drop in its net profit to ₹200.40 crore. This is despite 11.33% growth in its total revenue to ₹1,744.80 crore. The shares of Biocon ended 2.3% higher on Thursday. Avenue Supermarts and Cochin Shipyard The founder of Avenue Supermarts, Radhakishan Damani bought 0.5% equity stake in India’s largest shipbuilding and maintenance company, Cochin Shipyard for ₹394.14 per share. The shares of Avenue Supermarts and Cochin Shipyard ended 2% and 9% higher on Thursday, respectively. Bharti Infratel Telecom infrastructure firm Bharti Airtel on Thursday posted a 24% drop in consolidated net profit to ₹733 crore for the quarter ended September 30. The overall revenue grew by about 2% to ₹3,695 crore during the reported quarter, the company said. The shares of Bharti Infratel ended 2% higher on Thursday. JSW Steel, Yes Bank, ICICI Lombard, Persistent Systems, Sudarshan Chemicals and IDBI Bank among others JSW Steel, Yes Bank, ICICI Lombard, Persistent Systems, Sudarshan Chemicals and IDBI Bank are the companies among others that are slated to report their quarterly earnings today. SEE ALSO: <a href="https://www.businessinsider.in/science/health/news/gileads-remdesivir-just-got-the-first-fda-approval-to-be-used-as-a-treatment-for-coronavirus-patients/articleshow/78818920.cms" data-type="tilCustomLink">Gilead's remdesivir just got the first FDA approval to be used as a treatment for coronavirus patients</a> <a href="https://www.businessinsider.in/tech/news/social-media-will-change-when-users-ask-for-their-cut-from-data-revenue/articleshow/78810738.cms" data-type="tilCustomLink">‘Where’s my cut?’ the question that can revolutionise social media</a> <a href="https://www.businessinsider.in/business/startups/news/paytm-uses-jeff-bezos-secret-for-success-building-two-pizza-teams/articleshow/78810520.cms" data-type="tilCustomLink">EXCLUSIVE: Paytm uses Jeff Bezos' secret for success — building 'two pizza' teams</a>

Top stocks to watch — Cipla, Zydus Cadila, Dr Reddy Laboratories, Tech Mahindra, Avenue Supermarts, Cochin Shipyard, and others

<ul class="summary-list"><li>US soldiers are training with Indian troops in the Himalayas this month for exercise Yudh Abhyas.</li><li>This year's version of the exercise is being held near India's disputed border with China.</li></ul>US soldiers arrived in India this month for Yudh Abhyas, venturing to the Himalayas for the 18th iteration of the annual exercise to train in cold, mountainous conditions with Indian troops.The exercise, held around Auli in the northern state of Uttarakhand, comes as the US and India both manage rising tensions with China, and the training is seen as a message to each other and to China about the strength of their relations.Yudh Abhyas has alternated between the US and India since the early 2000s. In 2021, it took place <a href="https://www.businessinsider.com/us-indian-soldiers-yudh-abhyas-exercise-alaska-amid-china-tension-2021-12" target="_blank" rel="noopener">in Alaska for only the second time</a>. The US participants this year are members of the Alaska-based 11th Airborne Division, which was reactivated this summer <a href="https://www.businessinsider.com/new-alaska-army-unit-extends-reach-in-arctic-and-beyond-2022-6" target="_blank" rel="noopener">to focus on operations in extreme cold and mountainous conditions</a> — a skill set getting renewed attention from <a href="https://www.businessinsider.com/us-british-navies-step-up-arctic-presence-with-carrier-operations-2022-11" target="_blank" rel="noopener">the US, its allies, and their rivals</a>."The Army typically doesn't go to the Himalayas, and now we have an Arctic force and we're training in the Arctic. We feel confident that we could do things like that now that the Army couldn't do before," Maj. Gen. Brian Eifler, 11th Airborne Division commander, said in an interview at the Association of the US Army conference in Washington DC in October."The Indian Army asked us last year to train at 10,000 feet up in the Himalayas," Gen. Charles Flynn, head of the US Army's Pacific forces, said at the conference. "Now we have a force capable of being able to say, 'Yes, we'll be there.'"According to an Indian <a href="https://pib.gov.in/PressReleasePage.aspx?PRID=1876038" target="_blank" rel="noopener">press release</a>, the two-week exercise will focus on humanitarian assistance and disaster relief and include "all operations related to peace keeping &amp; peace enforcement." In addition to a command-post exercise and expert discussions, it will include a field-training exercise involving "establishment and functioning of surveillance grids," mountain-warfare training, and casualty evacuation and combat medical aid "in adverse terrain and climatic conditions," as well as drone and counter-drone operations, the release says.The exercise was originally scheduled for October and US soldiers wanted to parachute in, but the jump didn't work out and the exercise was delayed until this month, kicking off on November 19.<div type="image" title="US Army soldiers play cards in Uttarakhand India Himalaya" height="1500" width="2000" msid="95694890" hostid="261" sizebytes="643418"></div>"But they do want us to be up there and have us in Himalayas, and we're like, 'Yeah, absolutely,'" Eifler said, adding as part of US Indo-Pacific Command, his division's task is to focus on working with countries in the region "that have those extreme cold [conditions] and mountain terrain."Yudh Abyhas has previously taken place elsewhere in northern India, including in Uttarakhand, but this year it is being held only about 60 miles from the Line of Actual Control, a 2,100-mile boundary separating China and India that was <a href="https://www.nytimes.com/2020/06/16/world/asia/india-china-border.html" target="_blank" rel="noopener">established</a> as part of a truce following their 1962 border war.Parts of the LAC remain disputed, and after decades of relative calm, that dispute <a href="https://www.businessinsider.com/amid-border-dispute-tensions-how-china-and-india-militaries-compare-2020-6" target="_blank" rel="noopener">flared in June 2020</a>, when at least 20 Indian soldiers and four Chinese troops were killed in a brawl in the Ladakh region northwest of where Yudh Abyhas is being held.Since then, New Delhi and Beijing have held <a href="https://www.thehindu.com/news/national/india-china-agree-for-more-military-talks-to-resolve-pending-lac-issues/article66011447.ece" target="_blank" rel="noopener">a series of talks</a> leading to the <a href="https://www.businessinsider.com/china-india-tanks-armor-could-make-future-war-much-deadlier-2021-5" target="_blank" rel="noopener">disengagement of troops and equipment</a> that both sides moved into the area before and after the June 2020 clash, but they continue to <a href="https://www.telegraphindia.com/india/china-building-spree-at-depsang-plains/cid/1898521" target="_blank" rel="noopener">bolster</a> their <a href="https://www.scmp.com/news/china/diplomacy/article/3185506/chinese-military-upgrades-near-disputed-himalayan-border" target="_blank" rel="noopener">military</a> presence and <a href="https://www.ndtv.com/india-news/india-developing-infrastructure-along-china-border-for-surveillance-army-3292799" target="_blank" rel="noopener">infrastructure</a> in the region.<div type="image" title="India army convoy Kashmir Ladakh" height="1710" width="2500" msid="95694894" hostid="261" sizebytes="699856"></div>"The US and India probably anticipated that conducting the exercise near the Chinese border would draw Beijing's ire. It sends a useful hint — to both China and equally the Indian Army — that the US appreciates India's security concerns on the border," Arzan Tarapore, South Asia research scholar at Stanford University's Shorenstein Asia-Pacific Research Center, told Insider."But as far as political signaling goes, the US and India have still left some room to escalate — while this iteration is near the border, it is not near disputed stretches of the LAC or near recent crisis areas," Tarapore added.The exercise also reflects the recent advancement of US-Indian relations, particularly on defense issues. "The deepening of strategic and defense ties on a bilateral front has been significant," India's ambassador to the US, Taranjit Singh Sandhu, <a href="https://carnegieendowment.org/2022/11/10/conversation-with-ambassador-taranjit-singh-sandhu-event-7976" target="_blank" rel="noopener">said</a> this month.Between 2002 and 2020, the two militaries signed four foundational agreements allowing for expanded cooperation <a href="https://www.businessinsider.com/us-intelligence-sharing-with-india-helps-monitor-chinese-military-2020-12" target="_blank" rel="noopener">on logistics and communications and sharing of classified information</a>.<div type="image" title="India army soldiers in Alaska Arctic Yudh Abhyas" height="1333" width="2000" msid="95694897" hostid="261" sizebytes="100924"></div>In addition to <a href="https://www.indiatoday.in/india-today-insight/story/india-us-brothers-in-arms-1856465-2021-09-23" target="_blank" rel="noopener">increased</a> US arms sales and larger exercises, the militaries have achieved several milestones in recent years, including the <a href="https://www.businessinsider.com/air-force-sends-message-with-historic-bomber-flights-2021-3" target="_blank" rel="noopener">first visit by a US bomber aircraft</a> and the <a href="https://www.dvidshub.net/news/427397/us-navys-military-sealift-command-conducts-maintenance-india" target="_blank" rel="noopener">first repair of a US naval ship</a> in an Indian shipyard.The US Army has sent India's army some 30,000 sets of "extreme cold-weather gear" for individuals and small units "over the last couple of years," Flynn said in October, "because operating at that altitude and in those conditions is radically different" from other environments.Tarapore, whose researches Indian defense policy, said that beyond political signals, US-Indian military exercises should aim to build "understanding, trust, and interoperability.""We should be watching to see if each iteration of Yudh Abayas gets more realistic, more complicated, tests more military functions, and scenarios more likely to be used in the real world," Tarapore told Insider, adding that this year's focus on disaster response and "some fairly complex staff and field components" was "a good sign.""The more complex and realistic an exercise is, the better postured they will be to work together in real contingencies — and to deter potential adversaries," Tarapore said. "Ultimately, that's the goal of the military relationship."

US and Indian troops are teaming up for tough training in the Himalayas near a tense border with China

<ul><li>The <keyword id="6876070" type="UNKNOWN" weightage="20" keywordseo="VC-11184">VC 11184</keyword> is India’s <keyword id="6876071" type="UNKNOWN" weightage="20" keywordseo="first-missile-tracking-ship">first missile tracking ship</keyword>, which will also be the first dedicated resource in Phase-II of India’s ballistic missile defence.</li><li>The project has cost around ₹7.5 billion ($100 million) so far. </li><li>With this ship, India will join the likes of the Russia and China, as one of the few countries will advanced ocean capabilities.</li></ul>Putting India in the elite club of countries that are equipped with sophisticated ocean surveillance ship, the VC 11184 is <a href="https://www.thehindu.com/todays-paper/tp-national/indias-first-missile-tracking-ship-is-readying-for-sea-trials/article24930523.ece">ready for sea trials</a>. There are only four other countries - the US, Russia, China, and France - that have have similar vessels in their arsenal. Set to go in the first week of October, <keyword id="435692" type="COMPANY" weightage="20" keywordseo="Hindustan-Shipyard-Limited">Hindustan Shipyard Limited</keyword> (HSL) will launch the ship off the coast of <keyword id="60510" type="COMPANY" weightage="20" keywordseo="Visakhapatnam">Visakhapatnam</keyword>. This is also where the Ship Building Centre is currently working on the nuclear-powered submarine, INS Arihant. The VC 11184 is the first of its kind for the Indian Navy as a part of the country’s strategic weapons programme aimed at strengthening the country’s defences. It will also be the first ship to be a dedicated resource for Phase-II of India’s ballistic missile defence. The name may sound a little bland, but the ship will be renamed once it’s officially inducted into the Indian navy. As of now, the VC11184 is being built for the <keyword id="145763" type="ORGANIZATION" weightage="20" keywordseo="National-Technical-Research-Organisation">National Technical Research Organisation</keyword> (NTRO). This technical intelligence agency works directly with the Prime Minister’s Office and the National Security Advisor. From port to starboard There isn’t a lot to say about the VC 11184 since it’s a ‘topmost secret project’ entailing strict confidentiality but the Hindu does report that the project has cost a total ₹7.5 billion ($100 million) so far. Powered by two diesel engines, the VC11184 can carry a crew of 300 and has a large deck which can accommodate a helicopter landing. Basin trials were already successful a while ago. The ship’s also equipped with hi-tech gadgets and communication equipment. The objectives of the VC11184 are two-fold. One, track missiles using the two sensors on-board, the X-Band AESA primary radar and S-Band AESA secondary radar. And, two, gather electronic intelligence. Between those two tasks, the VC1184 will be the most advanced tracking and surveillance ship in India’s arsenal.

India’s first missile tracking ship is ready to hit high seas

The Prime Minister Narendra Modi-led government has set the ball rolling as it announced a number of policy reforms. 
 With announcements like approval of 10% <keyword id="3142040" type="UNKNOWN" weightage="20" keywordseo="stake-sale-in-Coal-India">stake sale in Coal India</keyword> Ltd, an IPO at Cochin Shipyard, a five-year interest subsidy scheme to bolster sagging exports and revival of 34 stalled projects of NHAI, the government is walking the talk. 
 
The Cabinet Committee on Economic Affairs (CCEA) empowered the National Highways Authority of India (NHAI) to revive 34 stalled projects which will free up projects worth Rs 35,000 crore. 
 
A Railways project is also being given a nod that will attract about Rs 10,000 crore of investment. 
 
Also, the government, for the first time, approved direct payment of a sugarcane production subsidy to farmers. 
 
India’s Coal Minister Piyush Goyal, while briefing the mediapersons, said, “All these decisions will give a huge boost to economic growth, to growth of exports, revival of stalled projects and bring back the momentum in the economy which this government has been striving for over the past 18 months.” 
 
It is worth mentioning that 10% stake sale of Coal India will get at least Rs 21, 000 crore in the government’s kitty. 
 
Regarding the IPO of Cochin Shipyard, the approval is for the sale of 3.4 crore equity shares. 
 
Meanwhile, the decision of the stalled projects of NHAI is also a welcome move. 
 
As per reports, the CCEA also gave a nod to segregate the cost of construction from that of land acquisition and pre-construction activity to speed up the approval process of national highway projects. 
 
"By adopting the policy, the avoidable delays in the process of appraisal and approval of NH (national highway) projects will be suitably addressed. Speedy appraisal and approval will help in meeting the award target of 10,000 km set for this year," the government said in a statement. 
 
(Image: Reuters)

Modi government walks the talk, announces a slew of reforms

<ul class="summary-list"><li>Relations between the US and <keyword id="11892747" type="UNKNOWN" weightage="60" keywordseo="india" source="Orion">India</keyword> and between <keyword id="11892748" type="UNKNOWN" weightage="60" keywordseo="china" source="Orion">China</keyword> and <keyword id="11893449" type="UNKNOWN" weightage="60" keywordseo="pakistan" source="Orion">Pakistan</keyword> are growing closer.</li><li>India and Pakistan are looking to boost their military capabilities, while the US and China are looking for support of their regional and global ambitions.</li></ul>In the final months of 2021, Pakistan <a href="https://www.navalnews.com/naval-news/2021/11/pakistan-navy-commissions-1st-type-054-a-p-frigate-pns-tughril/" target="_top">commissioned</a> the first of four Chinese-built Tughril-class frigates and <a href="https://www.defensenews.com/global/asia-pacific/2022/01/03/pakistan-confirms-chinese-firebird-fighter-acquisition/" target="_top">confirmed</a> its intentions to buy 25 of China's <a href="https://www.airforce-technology.com/projects/j-10/" target="_top">J-10C</a> fighter jets.Those are only the latest high-profile defense projects between Beijing and Islamabad, and they are emblematic of the growing relations between two countries with a common goal: countering the threat they see in India.At the same time, India has increasingly turned to the US to meet its defense needs. The US has become a large supplier of arms to India over the past decade, and the two countries have deepened <a href="https://www.businessinsider.com/us-intelligence-sharing-with-india-helps-monitor-chinese-military-2020-12" target="_top">their defense cooperation</a> as well.The moves add another geopolitical layer to what was already one of the world's most intense rivalries.<h2>Old rivals seek new friends</h2><div type="image" title="Pakistan Prime Minister Imran Khan in Chinese J-10C jet" height="683" width="1024" msid="90400022" hostid="261"></div>Before China became Pakistan's chief arms supplier in the 1990s, Islamabad relied on the US for higher-end defense equipment and assistance — a partnership borne out of cooperation to oust the Soviets from Afghanistan in the 1980s.China and Pakistan's military relationship dates to the 1960s, but in recent years, the Pakistani military's hardware has increasingly come from China or through joint Pakistani-Chinese ventures.Virtually all of <a href="https://www.defensenews.com/land/2021/11/19/pakistan-resumes-armor-modernization-as-terror-threat-recedes/" target="_top">Pakistan's main battle tanks</a> are exported Chinese models or variants of Chinese tanks developed in Pakistan, like the <a href="https://www.army-technology.com/projects/alzarrarmianbattleta/" target="_top">Al-Zarrar</a>. Pakistan has fielded upgraded variants of the <a href="https://www.armyrecognition.com/pakistan_pakistani_army_tanks_heavy_armoured_uk/al_khalid_al-khalid_main_battle_tank_technical_data_pictures.html" target="_top">Al-Khalid</a> tank, developed jointly with a Chinese firm and in production since 2001, and <a href="https://www.janes.com/defence-news/news-detail/pakistan-army-holds-induction-ceremony-for-vt4-mbt" target="_top">begun acquiring</a> Chinese-made <a href="https://www.armyrecognition.com/china_chinese_heavy_armoured_vehicle_tank_uk/vt4_mbt-3000_norinco_mbt_main_battle_tank_data_pictures_video.html" target="_top">VT-4</a> tanks.The workhorse of Pakistan's Air Force is the <a href="https://www.airforce-technology.com/projects/fc1xiaolongjf17thund/" target="_top">JF-17</a>, a fighter developed jointly with China and meant to replace Pakistan's aging Chinese-made J-7s. The PAF also <a href="https://eurasiantimes.com/satellite-image-reveals-chinese-predator-drones-armed-with-hellfire-type-missiles-stationed-at-pakistani-airbase/" target="_top">operates</a> a number of Chinese-made drones capable of strike missions.As the PAF's use of its US-made F-16s is <a href="https://www.usnews.com/news/world-report/articles/2019-12-11/state-department-reprimanded-pakistan-in-august-for-misusing-f-16s-document-shows" target="_top">limited</a> by the terms of their sale, buying J-10Cs may be an attempt to substitute or even replace the American fighter with one Pakistan can actually use against India.<div type="image" title="Pakistan Zulfiqar-class frigate Shamsheer" height="1337" width="2000" msid="90400023" hostid="261"></div>At sea, three of the Pakistani navy's four <a href="https://www.naval-technology.com/projects/sword-f22p/" target="_top">Zulfiquar-class</a> frigates were built in China like the Tughril-class frigates, the fourth of which was <a href="https://www.navalnews.com/naval-news/2021/12/chinese-shipyard-launches-two-type-054-frigates-and-one-type-071e-lpd/" target="_top">launched</a> in December.China is also helping Pakistan <a href="https://www.navalnews.com/naval-news/2021/12/pakistan-cuts-steel-for-5th-hangor-class-submarine-pns-tasnim/" target="_top">build</a> eight Hangor-class submarines — a variant of China's <a href="https://news.usni.org/2015/08/31/essay-inside-the-design-of-chinas-yuan-class-submarine" target="_top">Type 039A</a> diesel-electric sub — splitting production between Chinese and Pakistani shipyards. They are expected to be delivered between 2022 and 2028 and will <a href="https://www.navalnews.com/naval-news/2020/10/pakistans-new-chinese-aip-submarines-image-shows-karachi-site/" target="_top">double</a> the size of Pakistan's submarine fleet.The defense relationship <a href="https://asia.nikkei.com/Politics/International-relations/China-and-Pakistan-ink-military-MOU-to-counter-US-India-pact" target="_top">goes beyond</a> weapons sales. China and Pakistan <a href="https://www.dawn.com/news/1646630" target="_top">regularly</a> conduct <a href="https://cscr.pk/explore/themes/defense-security/importance-of-shaheen-exercises-for-pakistan-air-force-and-indian-concerns/" target="_top">joint</a> and multinational <a href="https://www.voanews.com/a/east-asia-pacific_chinas-warships-hold-joint-naval-drill-pakistan/6182310.html" target="_top">military exercises</a>. Officials from both countries speak of their relationship in glowing terms, describing it as <a href="https://asia.nikkei.com/Opinion/Pakistan-China-and-terrorism" target="_top">"close as lips and teeth"</a> and <a href="https://www.telegraph.co.uk/news/worldnews/asia/pakistan/10161516/China-Pakistan-friendship-sweeter-than-honey-says-Nawaz-Sharif.html" target="_top">"sweeter than honey."</a>As its two fiercest rivals have deepened their defense ties, India has deepened its own military partnerships, in particular with Russia, which has for decades supplied India with advanced hardware.The US has historically been reluctant to sell arms to India because of New Delhi's ties with Moscow and fears that those weapons may be used in a war in <keyword id="11893424" type="UNKNOWN" weightage="60" keywordseo="south-asia" source="Orion">South Asia</keyword>. But in recent years India has increased its purchases of defense equipment from the US and other Western countries.<div type="image" title="India Australia US Navy P-8" height="1125" width="1500" msid="90400024" hostid="261"></div>Since the signing of the <a href="http://library.rumsfeld.com/doclib/sp/3211/2005-06-28%20New%20Framework%20for%20the%20US-India%20Defense%20Relationship.pdf" target="_top">New Framework for the US-India Defense Relationship</a> in 2005, India has purchased <a href="https://theprint.in/defence/c-130j-super-hercules-lands-on-national-highway-heres-a-look-at-past-landings-on-expressways/730942/" target="_top">dozens</a> of US-made <a href="https://thediplomat.com/2019/08/india-takes-delivery-of-11th-c-17-globemaster-from-united-states/" target="_top">cargo</a> aircraft and <a href="https://economictimes.indiatimes.com/news/defence/india-gets-final-batch-of-apache-attack-helicopters-amid-ongoing-standoff-with-china/articleshow/76896252.cms" target="_top">attack</a> and <a href="https://www.youtube.com/watch?v=VZXNXX1aS08" target="_top">transport</a> helicopters — including <a href="https://www.businessinsider.com/us-aircraft-boost-india-efforts-to-counter-china-at-sea-2021-7" target="_top">MH-60R Seahawk</a> and <a href="https://www.businessinsider.com/india-china-more-us-made-sub-hunting-planes-2018-1" target="_top">P-8I maritime patrol planes</a>, both of which are important for Indian efforts to keep an eye on <a href="https://www.businessinsider.com/after-himalayan-clash-india-prepares-navy-to-take-on-china-2021-6" target="_top">increasing Chinese activity</a> in the <keyword id="13267637" type="UNKNOWN" weightage="60" keywordseo="indian-ocean" source="Orion">Indian Ocean</keyword>.The F/A-18, the F-15EX, and the F-21 (an F-16 variant made just for India by Lockheed Martin) are all <a href="https://eurasiantimes.com/indias-20b-multi-role-fighter-aircraft-mrfa-contract-junk-us-fighters/" target="_top">in the running</a> to fill an Indian order for 114 new fighter jets. The F/A-18 is also <a href="https://nationalinterest.org/blog/buzz/india-closing-fa-18-super-hornet-its-carrier-fighter-200384" target="_top">a contender</a> to be used aboard India's first domestically built aircraft carrier, <a href="https://indianexpress.com/article/india/india-first-indigenous-aircraft-carrier-ins-vikrant-sea-trails-7714755/" target="_top">INS Vikrant</a>.The US has also sold India lethal weaponry such as <a href="https://www.dsca.mil/press-media/major-arms-sales/india-mk-54-lightweight-torpedoes-0" target="_top">torpedos</a>, anti-ship <a href="https://www.dsca.mil/press-media/major-arms-sales/india-agm-84l-harpoon-air-launched-block-ii-missiles" target="_top">missiles</a>, <a href="https://www.dsca.mil/press-media/major-arms-sales/india-mk-45-gun-system" target="_top">naval guns</a>, an anti-aircraft <a href="https://www.dsca.mil/press-media/major-arms-sales/india-integrated-air-defense-weapon-system-iadws-and-related-equipment" target="_top">system</a>, <a href="https://www.hindustantimes.com/india-news/army-to-get-firepower-boost-in-mountains-with-more-m777-guns-101636896249075.html" target="_top">M777 howitzers</a>, and 144,000 US-made <a href="https://theprint.in/defence/indian-army-to-order-second-batch-of-72000-sig-716-assault-rifles-from-us/459438/" target="_top">SIG716</a> rifles.India's military participates in <a href="https://www.businessinsider.com/us-indian-soldiers-yudh-abhyas-exercise-alaska-amid-china-tension-2021-12" target="_top">land</a> and <a href="https://www.stripes.com/theaters/asia_pacific/2021-10-14/quad-malabar-naval-drills-india-us-australia-japan-3237200.html" target="_top">naval</a> exercises with the US, and the two sides have <a href="https://www.businessinsider.com/us-intelligence-sharing-with-india-helps-monitor-chinese-military-2020-12" target="_top">expanded their intelligence-sharing</a> amid tensions along India's disputed border with China.<h2>Geopolitical realities</h2><div type="image" title="India China border guards" height="1648" width="2464" msid="90400025" hostid="261"></div>The developments in the China-Pakistan and US-India relationships reflect the geopolitical realities in South Asia and across the Asia-Pacific region.India and Pakistan have looked to the US and to China to boost their military capabilities, while the US and China are looking to India and Pakistan to support their regional and global ambitions.Pakistan's <a href="https://www.voanews.com/a/the-implications-of-deepening-economic-ties-between-pakistan-china-/6443711.html" target="_top">reliance on China</a>, in particular Chinese investment in the <a href="https://www.cfr.org/blog/china-pakistan-economic-corridor-hard-reality-greets-bris-signature-initiative" target="_top">China-Pakistan Economic Corridor</a>, will only increase in the aftermath of the US withdrawal from Afghanistan. The withdrawal is also likely to reduce the US's commitment to Pakistan, as they are aligned on few other issues."The China-Pakistan relationship is deeper because China's goals are more aligned with what Pakistan wants, which is the ability to counter its main rival, India," Timothy Heath, a senior <keyword id="6356001" type="UNKNOWN" weightage="60" keywordseo="international" source="Orion">international</keyword> and defense researcher at the Rand Corporation think tank, told Insider.<div type="image" title="Pakistan Gwadar port China Kashgar trade" height="1331" width="2000" msid="90400027" hostid="261"></div>"China hopes to keep a strong, relatively well-equipped and well-armed Pakistan as a partner, because from Beijing's perspective, that helps keep a potential rival — namely India — distracted and unable to cause more problems for China," Heath added.Some in Pakistan <a href="https://www.nytimes.com/2022/01/23/opinion/pakistan-united-states-china.html" target="_top">are wary</a> of going all-in on China and may seek rapprochement with the US, particularly if China grows reluctant to invest further in Pakistan's struggling economy. Beijing has also stopped short of making a military commitment to Pakistan — largely because it fears getting dragged into a full-blown conflict between Pakistan and India."They have a good deal where they use Pakistan to box in India and they stay outside and allow those two to bleed each other and beat each other up a little bit," Heath said.While Beijing wants to avoid "extreme escalations," Heath said, "tensions of a low simmering type are useful for China."For India, the US has emerged as a prime partner as Delhi grows more concerned with Chinese ambitions and the potential for conflict along its borders with both China and Pakistan.<div type="image" title="India Pakistan MiG-21 missiles" height="1331" width="2000" msid="90400028" hostid="261"></div>The US-India relationship is "primarily driven by a strategic convergence," said Rahul Bhatia, a research analyst at Carnegie India."New Delhi and Washington essentially want multipolarity in the Indo-Pacific and a rules-based international order, which very loosely translates to containing China," Bhatia said, adding that "they need each other for that."But despite a deepening defense relationship, India doesn't seek a full-fledged alliance with the US for a variety of political and economic reasons."When the US wants to sell a country arms, they are looking at building up a strategic partnership and interoperability. What India looks at when it's buying arms is building its own defense industrial base and the transfer of technology," Bhatia said.Moreover, India does not want to break from its traditional stance of non-alignment."They want to maintain their strategic autonomy," Heath said. "That's a very deeply rooted tradition vigorously alive in India today."

The US and China are picking sides in one of the world's most dangerous rivalries

Finance Minister <keyword id="129243" type="General" weightage="20" keywordseo="nirmala-sitharaman" source="Orion">Nirmala Sitharaman</keyword>’s budget on February 1 has made all the right noises regarding defence, with ₹<a href="https://www.indiabudget.gov.in/doc/bh1.pdf">5.25 lakh crore</a> being allotted to the <keyword id="6369097" type="General" weightage="20" keywordseo="Ministry-of-Defence" source="Orion">Ministry of Defence</keyword> (MoD), a hike of 10%, and an emphasis on <a href="https://www.orfonline.org/expert-speak/defence-budget-2022-23/">self-reliance</a> in defence manufacturing. While challenges of resource availability persist, the MoD still continues to grab the largest share of the central government’s expenditure. But beyond the numbers about revenue (₹2.39 lakh crore) and capital allocation (₹1.52 lakh crore) to the MoD, this budget has also demonstrated the Indian government’s long-term view of the China threat through two crucial steps: reinforcing greater budgetary support for the <keyword id="6355100" type="General" weightage="20" keywordseo="Indian-Navy" source="Orion">Indian Navy</keyword> and the border infrastructure. This comes in the backdrop of the prolonged border-standoff with the People’s Liberation Army (PLA) in the Himalayas, which has amplified India’s threat perception. Accordingly, the government has made necessary emergency purchases—from <a href="https://economictimes.indiatimes.com/news/defence/india-acquires-11000-extreme-cold-gear-sets-from-us-army/articleshow/78922920.cms">winter clothing</a> to <a href="https://www.livemint.com/news/india/india-to-buy-21-mig-29-and-12-sukhoi-fighter-jets-from-russia-report-11592495559415.html">fighter jets</a>—to ensure that the Indian military is geared to face the PLA. The focus on naval capabilities and border infrastructure facilities complement this approach. <cmsannotation type="cmsannotation" annotationid="Prioritising Indian Navy" comment="subhead" text="Prioritising Indian Navy">Prioritising Indian <keyword id="42407" type="General" weightage="50" keywordseo="navy" source="Orion">Navy</keyword></cmsannotation> With <a href="https://media.defense.gov/2021/Nov/03/2002885874/-1/-1/0/2021-CMPR-FINAL.PDF">approximately 355 ships and submarines</a>, the PLA Navy has now emerged as the largest navy in the world. In response, India has stepped up its naval activities, including increased patrols in the Indian Ocean. In addition, India’s growing Indo-Pacific ambitions have brought a greater naval presence and engagement with the region. However, with a fleet of about 130 ships and submarines, one-third in size of the PLA Navy, the strain on the Indian Navy is immense. This is accentuated by delays in shipbuilding and induction, which have substantially affected the pace of naval modernisation. Hence, the Navy has now re-worked its aspiration for a 200-ship fleet to a more realistic goal of a <a href="https://www.newindianexpress.com/nation/2021/nov/16/navy-will-achieve-its-170-ship-force-level-timelines-being-revised-navy-vice-chief-2384329.html">170-ship fleet</a>. Partially addressing this problem, the government in this budget has increased the <a href="https://www.indiabudget.gov.in/doc/eb/sbe21.pdf">capital allocation for naval modernisation</a> from ₹33.2 thousand crore (FY 2021-22 BE) to ₹47.5 thousand crore (FY 2022-23 BE). This includes ₹29.4 thousand crore for the naval fleet. The funds allocated are more than what the Navy had demanded (₹<a href="http://164.100.47.193/lsscommittee/Defence/17_Defence_25.pdf">37.6 thousand crore</a> for FY 2021-22) and hopefully, in the subsequent years, the defence ministry will manage to fulfil the Navy's demand. Besides boosting the Indian naval presence, this greater budgetary allocation will also contribute to the expansion of India’s shipyards as most of the naval expenditure is incurred in shipbuilding. At present, India’s public sector shipyards are manufacturing<a href="http://164.100.47.193/lsscommittee/Defence/17_Defence_24.pdf"> 48 ships and submarines</a>, making the Indian Navy the most indigenised of the three services. Two significant naval inductions expected this year are the Cochin Shipyard Ltd.-built indigenous aircraft carrier, IAC-1 (or INS Vikrant), and INS Vagir from Mazagon Dock Limited, likely to enter service in the second half of 2022. <cmsannotation type="cmsannotation" annotationid="Strengthening northern borders" comment="subhead" text="Strengthening northern borders">Strengthening northern borders</cmsannotation> Another key dimension of the China challenge has been the border infrastructure. China has determinedly pursued infrastructure build-out to give the PLA a sustained presence on the Line of Actual Control (LAC) in the last two decades. India has been late to this game but is slowly catching up, as seen by its current <a href="https://www.gatewayhouse.in/indias-border-infrastructure/">border infrastructure push</a> with border roads, strategic railway lines, and Advance Landing Grounds (airfields in areas closer to the LAC). The Border Roads Organisation (BRO), the primary agency to construct border roads along the LAC, has received a substantial hike annually in the last few budgets. Keeping up with that trend, this year, the BRO has been allocated <a href="https://www.indiabudget.gov.in/doc/eb/sbe19.pdf">Rs. 3500 crore</a>, 40% more than the FY 2021-22 BE of Rs. 2500 crore. This sustained enhanced allocation has ensured that the BRO has completed many long-pending projects, including the Atal Tunnel in Rohtang and Umling La pass in Ladakh. In addition, Sitharaman also announced the “<a href="https://www.indiabudget.gov.in/doc/bh1.pdf">Vibrant Villages Programme</a>” that will focus on developing remote villages on the LAC. To be administered by the Ministry of Home Affairs, <a href="https://pib.gov.in/PressReleaseIframePage.aspx?PRID=1794161">development activities</a> under this programme will include constructing infrastructure, housing, tourist centres, road connectivity projects, provisioning for renewable energy, expanding access to satellite television, and support for livelihood generation. This programme is vital due to the glaring difference in living standards in the villages on the Indian and Chinese sides of the LAC. China’s <a href="http://www.xinhuanet.com/english/2021-05/21/c_139959978.htm">white paper on Tibet</a> has noted that between 2017 and 2020, the Chinese government implemented a host of schemes to ensure better access to housing, electricity, roads, and the internet. These initiatives on naval modernisation and border development will yield the desired outcome only if India sustains them with the required budgetary support. While the government has to bear the cost of naval modernisation, it can engage the private sector to defray the border development costs by potentially through the corporate social responsibility framework. Sameer Patil is <keyword id="1188891" type="General" weightage="20" keywordseo="senior-fellow" source="Orion">Senior Fellow</keyword> at the Observer Research Foundation. The views expressed are his own.

OPINION: How India is trying to tackle China’s military challenge

<ul><li>The Indian government may not be able to fully utilise the budget it had allocated for the defence equipment and weapons purchases in 2021.</li><li>Strengthening the Navy may be one of the main focus for India's defence ministry as the threat coming from China rises.</li><li>India’s Defence budget has remained consistent roughly at 2% of the GDP in the last five years. </li></ul>The Indian government promised to spend 19% — of the ₹4.78 crore crore set aside for the defence sector — in buying new equipment, weapons, fighter jets et al before March 2022. That money may not be fully spent as planned, a national security and defence expert told Business Insider. The money may go into a corpus and is likely to be spent in the next year, according to <keyword id="300102" type="General" weightage="20" keywordseo="Sameer-Patil" source="Orion">Sameer Patil</keyword>, senior Fellow at ORF, who also believes that the upcoming budget on February 1 may focus more on strengthening India’s Navy. Not just Patil, another national security analyst Bhartendu Singh, also believes that while India’s allocation for defence will go up in absolute terms, it may remain small as a percentage of gross domestic product (GDP). India’s defence budget has remained consistent roughly at 2% of the GDP in the last five years. Even though the recommended <a href="https://prsindia.org/budgets/parliament/demand-for-grants-2021-22-analysis-defence#:~:text=Growth%20of%203%25%20over%20Budget,central%20government%20expenditure%20of%2014%25.">share is 3%</a>. <div type="image" title="This year’s defence budget may focus on building submarines, drones, warships and aircraft carriers" msid="88989454" hostid="261"></div> Here’s why India needs to strengthen the Navy While India has been constantly battling China on its land borders, the budget this year may focus on building up and modernising its forces on the sea. This is largely because the Chinese threat in the Indian ocean has also been rising simultaneously, according to Patil. Commodore Anil Jai Singh, a submarine veteran, has also <a href="https://www.financialexpress.com/defence/china-raises-bay-of-bengal-security-concerns-with-ming-presence/2398960/">raised </a>concerns over China ‘gifting’ Type 035 Ming class diesel-electric submarine — the oldest class of submarines in the Chinese inventory — to Myanmar last month. China has been growing its presence in the Indian ocean even before the Galwan clash of 2021, Patil added. Some steps are already visible. “We have seen both L&amp;T and Mazagon dockyard have been shortlisted as India’s strategic partners for building the next set of submarines,” Patil added. This project — which aims to build P75i submarines — is likely to see an investment up to <a href="https://www.businessinsider.in/defense/news/the-defence-acquisition-council-dac-clears-the-issuing-request-for-proposal-rfp-for-the-indian-navys-mega-deal-to-procure-six-submarines/articleshow/83229317.cms">₹45,000 crore</a>. The Indian Armed Forces is also looking to defend itself by building anti-submarine warfare capabilities, purchasing more maritime surveillance drones and building a fleet of 300 for the <keyword id="6355100" type="General" weightage="20" keywordseo="Indian-navy" source="Orion">Indian navy</keyword>. According to Elara Capital’s report published in October 2021 the Indian Navy's Fleet stands at 150 ships and submarines,and the Coast Guard fleet is at 130 vessels. Each of these is expected to grow to 200 vessels by 2027. Orders are likely to be placed for 165 warships in the medium term, the report added. Government of India’s undertaking Garden Reach Shipbuilders &amp; Engineers (GRSE), in its red herring prospectus, highlighted that the Navy’s estimated capital budget up to 2027 is expected to be ₹4.5 lakh crore. <div type="image" title="This year’s defence budget may focus on building submarines, drones, warships and aircraft carriers" msid="88989438" hostid="261"></div> If indeed, Finance Minister Nirmala Sitharaman makes provisions for higher spending on the Navy, these are some of the stocks to watch out for on Budget day. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"></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;">Stock </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;">Change in last one month </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;">Reliance Naval </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;">-2.7% </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;">Cochin Shipyard </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;">4.98% </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;">Garden Reach Shipbuilders &amp; Engineers </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;">16.52% </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;">Bharat Electronics </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;">6.26% </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;">Paras Defence </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;">5.28% </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;">Hindustan Aeronautics Limited </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;">14.15% </td></tr></tbody></table>Source: BSE SEE ALSO <a class="tout-title-link" href="https://www.businessinsider.in/stock-market/news/bajaj-finance-bajaj-auto-hero-motocorp-and-other-hot-stocks-on-january-19/slidelist/88985936.cms">Bajaj Finance, Bajaj Auto, Hero MotoCorp and other hot stocks on January 19</a> <a href="https://www.businessinsider.in/india/news/indias-daily-covid-19-cases-surge-by-7-8-in-a-day-active-cases-stand-at-1831000/articleshow/88987362.cms">India’s daily COVID-19 cases surge by 7.8% in a day, active cases stand at 18,31,000</a> <a href="https://www.businessinsider.in/stock-market/news/ags-transact-technologies-ipo-cash-management-firm-looking-to-halve-its-debt-with-ipo-money/articleshow/88987025.cms">AGS Transact is a cash management firm looking to halve its debt with IPO money</a>

This year’s defence budget may focus on building submarines, drones, warships and aircraft carriers

<keyword id="2731751" type="UNKNOWN" weightage="100" keywordseo="Reliance-Defence">Reliance Defence</keyword> delivers the first vessel to <a href="http://www.businessinsider.in/ONGC-accuses-Reliance-of-planning-and-executing-strategy-to-extract-gas-from-its-KG-blocks/articleshow/51090872.cms">ONGC</a>. <keyword id="9171" type="PERSON" weightage="100" keywordseo="Anil-Ambani">Anil Ambani</keyword> Group firm Reliance Defence and Engineering Ltd has delivered seventh offshore supply vessel (OSV) to state-owned Oil and Natural Gas Corp (<keyword id="6354737" type="CITY" weightage="100" keywordseo="ONGC">ONGC</keyword>). This is the first vessel to be delivered by Reliance Defence, formerly <keyword id="738065" type="COMPANY" weightage="100" keywordseo="Pipavav-Defence">Pipavav Defence</keyword> and Offshore Engineering Co Ltd, since takeover of the shipyard by <a href="http://www.businessinsider.in/Reliance-Defence-gets-12-industrial-licences-approved-from-DIPP/articleshow/51328594.cms">Reliance Group</a> on January 18, 2016. 
 

	"Reliance Defence and Engineering Limited (RDEL) formerly Pipavav Defence and Offshore Engineering Company Ltd delivered its seventh OSV to ONGC from the series of 12 indigenously designed and built ships, valued at Rs 700 crore," the company said in a statement. 
 

	The total value of the project for supply of 12 OSV to ONGC is over Rs 700 crore. 
 

	"The vessel completed its sea-trials within a record time of two days to the satisfaction of ONGC and Indian Register of Shipping (IRS). The vessel will facilitate ONGC in substituting their older fleet and chartered vessels as well as bring in high level offshore operations," it said. 
 

	The vessel has been designed as a new generation OSV with customized features for Indian waters and offshore fields. It can carry 1,800 tons of cargo at its deepest draught and is designed to carry varied cargo such as freshwater, cement, ballast/drill water and fuel oil. 
 

	In addition to ONGC, the company has also served international clients like Transocean, Shelf Drilling, NPCC and Noble Energy. 
 

	"There is a significant demand for new and replacement vessels for offshore oil and gas fields and RDEL is well positioned to benefit from these initiatives," it said. 
 

	OSV measures 59.2 m in length, 15.0 m in width and 6.75 m in depth and is equipped with Dynamic Positioning-1 and Agni-1 Notation. 
 

	RDEL operates India's largest integrated shipbuilding facility in Gujarat.

	 
	 
	(Image credits: indiatimes)

Reliance Defence to deliver its first vessel after takeover of the shipyard

Dilip Sanghvi , the founder of <keyword id="44642" type="CITY" weightage="60" keywordseo="Sun-Pharma">Sun Pharma</keyword> who recently hogged limelight for being the richest man in India surpassing the Ambanis and Adanis, may soon be the messiah for the cash strapped shipbuilder <keyword id="44525" type="COMPANY" weightage="80" keywordseo="ABG-Shipyard">ABG Shipyard</keyword>. The private shipbuilder, which operates a ship repairing unit in Goa has been pinning hopes on the Indian multi millionaire. As per a report by The Economic Times, Shanghvi's investment arm <keyword id="2791958" type="UNKNOWN" weightage="80" keywordseo="Dilip-Shanghvi-Family-Associates">Dilip Shanghvi Family &amp; Associates</keyword> (DFA) has been approached to buy 30% stake in ABG Shipyard for around Rs 2000 crore. 
 "<keyword id="207035" type="PERSON" weightage="60" keywordseo="Dilip-Shanghvi">Dilip Shanghvi</keyword>'s arm is said to be evaluating the deal and its still early days" a source with direct knowledge has told the financial daily. L&amp;T is also in the fray to buy a stake in ABG Shipyard, sources confirmed to ET. ABG Shipyard deal has been shown to M&amp;M and Munjal family in the past, but they are out of the deal now. 
 DFA with ace investor <keyword id="1007760" type="UNKNOWN" weightage="80" keywordseo="Sudhir-Valia">Sudhir Valia</keyword> has signed many big deals including investments in debt-laden Suzlon and hopes are high that Dilip Shanghvi, who is said to be interested in the defence sector, may look at the ABG Shipyard deal closely. 
 
Talking to ET Now, ABG Shipyard's Rishi Agarwal said, "We are in discussion with many strategic players for a stake sale." 
 
(Image: Reuters)

​Dilip Shanghvi, India’s richest man, could soon be building ships

India is ready to supply various weapons systems, including missiles and <keyword id="1706372" type="COMPANY" weightage="20" keywordseo="electronic-warfare-systems">electronic warfare systems</keyword>, to countries in the Indian Ocean Region (IOR), Defence Minister <keyword id="6355121" type="UNKNOWN" weightage="20" keywordseo="Rajnath-Singh">Rajnath Singh</keyword> said on Thursday. Delivering his keynote address at the IOR Defence Ministers' Conclave here, he said organising a conclave of countries in the IOR on the margins of the international event "Aero India-2021" shows the importance India attaches to the vision of common growth and stability, and constructive engagements with them. "Our efforts are to synergise the resources and efforts in the Indian Ocean, including, defence Industry industrial cooperation amongst participating countries," Singh said. Many of the IOR countries are becoming globally competitive and are developing new technologies, including defence shipyards for design and shipbuilding, which can be jointly harnessed through regional cooperation efforts, the Minister said. He said the Indian aerospace and defence industries present an attractive and significant opportunity for foreign companies across the supply chain to take their cooperation to newer levels. "India is ready to supply various types of Missile systems, Light Combat Aircrafts/Helicopters, Multi-Purpose Light Transport aircraft, Warship and Patrol Vessels, Artillery Gun systems, Tanks, Radars, Military Vehicles, Electronic Warfare Systems and other weapons systems to IOR countries," he said. SEE ALSO: <a href="https://www.businessinsider.in/science/space/news/isro-will-transform-in-2021-as-india-pumps-big-money-to-draw-in-startups-for-the-second-space-age/articleshow/80683054.cms">ISRO will transform in 2021 as India pumps big money to draw in startups for the 'second space age'</a> <a href="https://www.businessinsider.in/politics/news/new-citizenship-law-pulls-india-down-in-the-democracy-rankings-and-2021-is-not-looking-better/articleshow/80671194.cms">New citizenship law pulls India down in the democracy rankings — and 2021 is not looking better</a> <a href="https://www.businessinsider.in/finance/banks/news/bank-unions-strongly-oppose-divestment-bad-bank-and-fdi-in-insurance-with-threats-to-go-on-strike/articleshow/80668430.cms">Bank unions strongly oppose divestment, a bad bank and threaten to strike</a>

India is ready to supply weapons systems to countries in Indian Ocean Region, claims Rajnath Singh

India’s dream of getting an India-made world class warship seems to be distant now. As per news report by The Economic Times, private shipyard Pipavav is facing a stiff penalty from the Ministry of Defence over a significant delay in the production of naval patrol vessels, a Rs 2,500 crore project that was signed in 2011. A top naval officer told the ET that the Naval Offshore Patrol Vessel (NOPV) project is running almost 18 months behind schedule and that the ministry could take penal action as per the rules. 
 
The NOPV project was the first-ever Indian warship construction project that was handed over to the private sector and the first of five vessels under the plan was to be delivered early this year. However, due to multiple reasons - one of them being a midterm change in the foreign design partner - the first vessel is now expected to arrive by June 2016. 
 
Navy's Controller of Warship Production and Acquisition Vice Admiral AV Subhedar confirmed to ET that the delay has occurred and as per the new timeline, all five vessels are to be delivered within a two year period starting June next year. A senior Navy officer said that the delay is likely to incur a penalty from the Defence Ministry as per the rules. However, the penalty would not exceed Rs 125 crore. Despite attempts, Pipavav did not respond to queries on the matter that were sent by ET. Reliance Infrastructure, which has recently acquired the shipyard did not comment as it is yet to take over the management of the company. The Defence Ministry is also believed to have made queries on the new ownership pattern of the shipyard as it is presently undertaking a military project. 
 
Sources said that the NOPV project - the first naval order to be won in a competitive bidding by a private yard - has run into trouble due to a delay by Pipavav in finalizing a design partner. While a contract was initially signed with a Russian firm, negotiations broke down over differences on pricing and were terminated. 
 
(Image: Wikipedia)

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You Searched For "Indian shipyards" and got 13 results

Cochin Shipyard bags Rs 313cr deal to upgrade Indian Navy warship

IANS

Top stock movers — Tata Motors, SBI Cards, Cochin Shipyard, Zydus Cadila, Cipla, Dr Reddy’s, MphasiS, and others

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Top stocks to watch — Cipla, Zydus Cadila, Dr Reddy Laboratories, Tech Mahindra, Avenue Supermarts, Cochin Shipyard, and others

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US and Indian troops are teaming up for tough training in the Himalayas near a tense border with China

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Modi government walks the talk, announces a slew of reforms

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​Dilip Shanghvi, India’s richest man, could soon be building ships

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Dilip Shanghvi, India’s richest man, could soon be building ships