Defence stocks will be in focus on Friday after the Defence Acquisition Council (DAC), chaired by Defence Minister Rajnath Singh, approved 10 capital acquisition proposals worth approximately Rs 1.05 lakh crore.All proposals were cleared under the Buy (Indian-IDDM) category, promoting indigenously designed, developed, and manufactured systems to boost domestic defence production.According to the Ministry of Defence (MoD), the approvals include the procurement of Armoured Recovery Vehicles, Electronic Warfare Systems, Integrated Common Inventory Management Systems for the Tri-Services, and Surface-to-Air Missiles.
These acquisitions aim to enhance mobility, strengthen air defence capabilities, and improve logistical efficiency for the Armed Forces.Also Read: Suzlon, Adani Ports among 10 stocks that earned upgrades in last 1 month.
Check revised target priceThe DAC has also approved the procurement of Moored Mines, Mine Counter Measure Vessels, Super Rapid Gun Mounts, and Submersible Autonomous Vessels for the Navy.
These systems are expected to enhance maritime safety by mitigating threats to naval and merchant vessels.Live EventsThe ministry stated that the decision aligns with the governments focus on indigenisation and self-reliance in the defence sector.
All proposals have been cleared under the 'Buy (IndianIndigenously Designed, Developed and Manufactured)' category, ensuring the involvement of Indian vendors and promoting development within the domestic defence ecosystem.Also Read: 10 Nifty smallcaps with up to 29 buy calls; analysts see up to 26% upside(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own.
These do not represent the views of The Indian Subcontinent)