Defence Shares, Hindustan Aeronautics, Bharat Dynamics, BEML, Bharat Forge and Mazagon Dock Shipbuilders, Spurt As 108 Items Put On Import Ban List

Hindustan Aeronautics, Bharat Dynamics, BEML and Bharat Forge gained as much as 5 per cent every

The shares of defence tools makers have been hogging the limelight in a subdued market on Tuesday, a day after the Ministry of Defence (MoD) introduced a Positive Indigenisation List of 108 defence tools that should be compulsorily sources domestically. Among particular person shares, Hindustan Aeronautics surged 5 per cent to Rs 1,069.15, Bharat Dynamics was up 4.5 per cent, BEML was up 1.7 per cent, Bharat Forge gained 1.3 per cent and Mazagon Dock Shipbuilders added 1.6 per cent on the BSE.

On Monday, the Ministry of Defence introduced that 108 defence tools should be essentially sourced indigenously as per Defence Acquisition Procedure 2020.  Under the checklist, a complete of 49 gadgets will probably be banned for import after December, 21 can’t be imported after end-2022, 17 gadgets will probably be banned after December 2023, 13 after December 2024 and eight after December 2025.

In August final 12 months, the federal government had positioned an import embargo on 101 defence gadgets.

The BSE Sensex and NSE Nifty have been buying and selling flat at 51,961.336 and 15,578.15 on the time.

?cid=11678064
Src

Check Also

Rising Inflation May Force RBI To Focus on Price Stability, Says SBI Report

SBI has stated in its report that RBI must intervene if inflation goes on rising …