Hindustan Aeronautics (HAL), Bharat Dynamics, Bharat Electronics (BEL), BEML, and other defence stocks will be in focus on Wednesday after the government approved key military projects worth around ₹67,000 crore.
The Defence Acquisition Council (DAC), chaired by Defence Minister Rajnath Singh, approved various proposals aimed at boosting India’s military capabilities, including procurement of long endurance drones, mountain radars and missile systems at a cost of around ₹67,000 crore.
For the Indian Army, Acceptance of Necessity (AoN) was accorded for the procurement of Thermal Imager-based Driver Night Sight for BMP. This would enhance night driving capability of BMP and provide higher mobility and operational advantage to the Mechanised Infantry, Ministry of Defence said in a release.
For the Indian Navy, AoN was accorded for the procurement of Compact Autonomous Surface Craft, BrahMos Fire Control System & Launchers and Upgradation of BARAK-1 Point Defence Missile System.
For the Indian Air Force, DAC approved the procurement of Mountain Radars and Upgradation of SAKSHAM/SPYDER Weapon System, it added.
AoN was also accorded for procurement of Medium Altitude Long Endurance (MALE) Remotely Piloted Aircraft (RPAs) for the three Services.
In addition, DAC has also accorded AoN for sustenance of C-17 and C-130J fleets and comprehensive annual maintenance contract of S-400 Long Range Air Defence Missile System.
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