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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.
The stocks gained investor attention after the government signed contracts with HAL and L&T for procurement of 70 HTT-40 Basic Trainer Aircraft & three Cadet Training Ships, respectively
The Ministry of Defence has signed agreements, worth Rs 9,900 crore, with Hindustan Aeronautics Limited (HAL) and Larsen & Toubro (L&T) for the procurement of 70 HTT-40 basic trainer aircraft and three cadet training ships, respectively.
Get latest articles and stories on Business at LatestLY. The statement of the ministry, released on Tuesday, said the signing was done in the presence of Defence Minister Rajnath Singh in New Delhi. Defence Secretary Giridhar Aramane along with other officials of the ministry and representatives of HAL and Larsen and Toubro were also present during the signing. Business News | Govt Signs Contracts Worth Rs 9,900 Cr with HAL, L&T.
Ministry of Defence, signed contracts with Hindustan Aeronautics Ltd and L&T for procurement of 70 HTT-40 Basic Trainer Aircraft & three Cadet Training Ships respectively in the presence of Raksha Mantri Shri Rajnath Singh in New Delhi.