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Sources said these 15 maritime reconnaissance aircraft will be the marine versions of the C-295 medium lift tactical aircraft inducted by the IAF last year. Of the 15, nine will be for the Navy and six for the Coast Guard.
Defence Ministry on Thursday signed two separate contracts with Bharat Electronics Limited (BEL), at a total cost of over Rs 3,700 crore, to enhance the operational capabilities of the Indian Air Force.
A spate of recent orders under the Indigenously Designed Developed and Manufactured (IDDM) category have led to investor focus on defence stocks. Actually, the defence index has been an outperformer for a long while with public sector undertakings (PSUs) like Hindustan Aeronautics (HAL), Bharat Electronics (BEL), Bharat Dynamics (BDL), Garden Reach Shipbuilders Engineers (GRSE), Cochin Shipyard and Goa Shipyard being beneficiaries of the policy.
Of the 11 ships, seven will be indigenously designed, developed and manufactured by GSL and four by GRSE. The delivery of the ships is scheduled to commence in September 2026.
Shares of Bharat Electronics Ltd (BEL), Bharat Dynamics Ltd (BDL), Garden Reach Shipbuilders and Engineers (GRSE), Cochin Shipyard, and Paras Defence and Space Technologies settled 4-7 percent higher.