In a significant advancement for India’s naval and surveillance capabilities, The Cabinet Committee on Security chaired by Prime Minister Narendra approved major defence contracts totalling Rs 80,000 crores, including the acquisition of 31 Predator drones from the United States and indigenous construction of two nuclear submarines.
The report said that the Indian Navy is set to receive two nuclear-powered attack submarines, designed to significantly enhance its operational capabilities in the Indian Ocean Region.
The construction of these submarines will take place at the Ship Building Centre in Vishakhapatnam, with an estimated cost of Rs 45,000 crore.
India aims to eventually induct six such submarines as part of its broader strategic goals, with this initiative being part of the ambitious Project Advanced Technology Vessel.
Notably, these submarines will complement the existing five nuclear submarines being developed under the Arihant class at the same facility.
Listed below are some of the companies engaged in the development and support of nuclear-powered submarines that you can add to your watchlist.
Mazagon Dock Shipbuilders
Mazagon Dock Shipbuilders Limited is a Navratna Public sector Undertaking which is one of India’s leading defence sector companies under the aegis of the Ministry of Defence, it is engaged in the construction, repair, and refurbishment of warships and submarines at its dedicated facilities in Mumbai and Nhava.
It specializes in shipbuilding, particularly known for constructing nuclear-powered submarines like the Arihant-class and conventional submarines such as the Scorpène-class.
Its product portfolio consists of Destroyers, Missile Boats, Conventional Submarines Offshore Patrol Vessels, Cargo Vessels, Multipurpose Support Vessel, Tugs, Dredgers, Windmill towers Pontoons, Offshore Platforms, Floating Border Outposts, and many more.
With a market capitalization of Rs. 88,946 Crores, the shares of Mazagon Dock Shipbuilders Limited were trading at Rs. 4,410 per equity share, up 8 percent from its previous day’s close price of Rs. 4,086.15.
Bharat Electronics
Bharat Electronics Limited (BEL) is a Navratna central public sector enterprise that operates in the aerospace and defence sector, it primarily manufactures advanced electronic products for ground and aerospace applications.
Its product portfolio consists of a wide range of systems and technologies designed for modern warfare, surveillance, communication, and electronic warfare like Radar and Sonar Systems, Electronic Warfare (EW) Systems, Missile Systems, Communication Systems, weapon systems, and many more.
With a market capitalization of Rs. 2,02,790 Crores, the shares of Bharat Electronics Limited were trading at Rs. 288 per equity share, up 2 percent from its previous day’s close price of Rs. 282.50.
Larsen & Toubro
Larsen & Toubro Limited is a multinational conglomerate operating in over 50 countries, it is primarily engaged in providing engineering, procurement, and construction (EPC) solutions across major sectors such as Hydrocarbon, Power, Infrastructure, Information Technology, Defence, and Financial Services in domestic and international markets.
L&T plays a crucial role in enhancing India’s naval capabilities through shipbuilding, advanced technology development, and providing integrated solutions tailored to the needs of the Indian Navy and many others.
With a market capitalization of Rs. 4,80,905 Crores, the shares of Larsen & Toubro Limited were trading at Rs. 3,498 per equity share, up 0.31 percent from its previous day’s close price of Rs. 3,486.60.
Bharat Dynamics Limited
Bharat Dynamics Limited is engaged in the business of manufacturing and supplying missiles and allied defence equipment like torpedo advanced lightweight, medium-range surface-to-air missiles, quick-reaction surface-to-air missiles, and many more.
Bharat Dynamics Limited (BDL) is instrumental in enhancing India’s submarine capabilities by developing and manufacturing missile systems that can be launched from submarines, providing submarines with offensive capabilities to target land and maritime threats.
With a market capitalization of Rs. 44,660 Crores, the shares of Bharat Dynamics Limited were trading at Rs. 1,218.35 per equity share, up 5 percent from its previous day’s close price of Rs. 1,162.60
Paras Defence and Space Technologies
Paras Defence and Space Technologies Limited is primarily engaged in designing, developing, manufacturing and testing a variety of defence and space engineering products and solutions.
It develops advanced electronic systems and sensors, including sonar systems for underwater detection, and designs underwater systems like unmanned underwater vehicles (UUVs) and many more enhancing the overall effectiveness of naval operations.
With a market capitalization of Rs. 4,392 Crores, the shares of Paras Defence and Space Technologies Limited were trading at Rs. 1,090 per equity share, down 1 percent from its previous day’s close price of Rs. 1,101.75.
Written by: Bharath K.S
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