India s defence sector presents an ordering opportunity worth $138 billion between fiscal years 2023-24 (FY24) and FY32, said a latest note by Nomura, which has initiated coverage on two defence-related players - Hindustan Aeronautics (HAL) and Bharat Electronics (BEL) - with a buy rating.
The research and broking house sees an upside potential of 28 per cent and 32 per cent, respectively in these two stocks from the current levels.
Hindustan Aeronautics (HAL) is one of the largest beneficiaries of the defence indigenisation programme.
The aerospace Public Sector Undertaking (PSU) has just received a new tender for 97 Light Combat Aircraft (LCA) Tejas Mk1A, and it is already servicing an earlier order for 83 LCA aircraft.
The new order is worth around Rs 65,000 crore with a 65 per cent indigenisation component, whereas the earlier order (February 21) was worth Rs 45,700 crore with 55 per cent indigenisation.
Eight years ago, Flipkart started a new service called Nearby to deliver fruit, vegetable, soap, and other everyday items from supermarkets to customers within an hour of receiving the order.
After startups and Big Tech, the layoff season may have begun at the $245 billion Indian information-technology (IT) industry.
Bengaluru-based IT major Wipro is looking to cut hundreds of jobs, targeting mid-level employees working onsite as the company looks to improve margins, according to a media report, citing two sources.
The company has said it is aligning its business and talent to the changing market environment.
Flipkart, the e-commerce company owned by Walmart, is intensifying its efforts to achieve profitability as it is eyeing a valuation of approximately $60 billion at the time of its initial public offering (IPO), now planned in 2025-2026, instead of this year, according to people familiar with the matter.
The firm might consider listing in the US or any other geography, including India.
The company, which counts the likes of Amazon and Reliance s JioMart among its competitors in India s burgeoning e-commerce market, had also contemplated launching an IPO in 2022-2023.