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The Indigenous Aircraft Carrier (IAC) - 'Vikrant' proceeds for maiden sea trial

The Indigenous Aircraft Carrier (IAC) - 'Vikrant' proceeds for maiden sea trial
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Biggest gap between projections and allocation in Defence Budget

Biggest gap between projections and allocation in Defence Budget
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Numbers reveal that this is the biggest gap in allocation versus projection since 2014, surpassing the ₹1.09 lakh crore gap in financial year 2018-19. While like most ministries, there is a gap when it comes to allocation of funds, the armed forces were looking at extra resources this year given the additional security challenges being faced.
Alternative mechanisms for supplementing the defence budget are being discussed within the government with a non-lapsable fund for modernisation given an in-principle approval but it is yet to be formally set up.
The gap between the money required by the armed forces for modernisation and operations and what has actually been allocated to them in the annual budget by the finance ministry has widened to its maximum since 2014, latest numbers shared in Parliament reveal. ....

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Cochin Shipyard spurts on emerging L1 bidder for Indian Navy contract

Cochin Shipyard jumped 8.6% to Rs 383.55 after the PSU company announced that it has been declared as lowest (L1) bidder in the tender floated by the Indian Navy.The scope of order involves construction of six Next Generation Missile Vessels (NGMV) and the estimated total order value is around Rs 10,000 crore.
Cochin Shipyard added that the final announcement of the contract will be subject to the satisfactory completion of necessary formalities in this regard, which will be updated in due course.
Cochin Shipyard is the largest shipbuilding and maintenance facility in India. It is part of a line of maritime-related facilities in the port-city of Kochi, Kerala. As of 31 December 2020, the Government of India held 72.86% stake in the company. ....

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Benchmarks trade with small gains; oil & gas shares advance

Read more about Benchmarks trade with small gains; oil & gas shares advance on Business Standard. Key equity indices traded with small gains in mid-afternoon trade amid significant volatility. The Nifty was trading below the 14,750 mark. Oil & gas stocks edged higher. ....

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Cochin Shipyard bags ₹10,000 crore Navy order for six missile vessels

Incorporated in 1972, CSL can build ships up to 1,10,000 dead weight tonnage (DWT) and repair ships up to 1,25,000 DWT.CSL has secured shipbuilding orders from internationally renowned companies from Europe and Middle East ....

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