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BEML shares surged 4.2% after the company secured a Rs 385 crore order from Bharat Dynamics and Bharat Electronics for the supply of High Mobility Vehicles. The stock has risen 7% year-to-date and 28% in the last year, delivering over 150% returns to investors in the last three years. Analysts have an average target price of Rs 1,898, implying a potential upside of 17%. In Q4 FY23, BEML reported an 18% increase in profit and a decline in consolidated revenue from operations. The government of India holds 54.03% of the company's shareholding.

The approval of the AoN for the Medium Speed Marine Diesel Engine under the Make-I category is a crucial milestone, believes the Council.

Defence Acquisition Council has accorded AoN for procurement of Advance Light Helicopters MK-III from Hindustan Aeronautics Limited for the Indian Coast Guard.

In a big push towards 'Make-in-India' in the defence sector, Defence Ministry on Thursday approved proposals worth Rs 70,500 crore for buying different weapon systems for the Indian defence forces.

Out of the total proposals, Indian Navy proposals constitute more than ₹56,000 crore, which largely includes indigenous BrahMos missiles, Shakti Electronic Warfare systems, Utility Helicopters-Maritime