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On Monday, the Army finalized a deal for more than 160 «cutting-edge mobile secure satellite terminals (MSSTs)» with the defense Public Sector Undertaking (PSU), Bharat Electronics (BEL). This contract is the latest in a series of similar agreements signed in recent months, the report claimed quoting sources in the Defence Ministry. Previous contracts encompassed over 150 man-portable Ku-band satellite terminals, approximately 400 S-band hand-held terminals, over 300 S-band manpack terminals, and more than 80 light vehicle-based Ku-band satellite communication terminals, among others. These secure portable terminals, developed by the Defense Research and Development Organization (DRDO) and BEL, are anticipated to be a significant force multiplier.

sub-standard goods and boost domestic manufacturing of these goods.

drones and textiles sectors to encourage investment and boost manufacturing, an official said. These sectors have been identified after inter-ministerial consultations on the performance of the scheme for various products. The official also said that disbursement of production-linked incentives (PLI) for white goods (AC and LED lights) would start this month and that would push the amount of disbursement, which was only Rs 2,900 crore till March 2023. The scheme was announced in 2021 for 14 sectors such as telecommunications, white goods, textiles, manufacturing of medical devices, automobiles, speciality steel, food products, high-efficiency solar PV modules, advanced chemistry cell battery, drones and pharma with an outlay of Rs 1.97 lakh crore. «We have identified the sectors.

agricultural products (Brazil), fuel (Gulf nations, Malaysia), minerals and ores (Chile, Peru, Australia), electronics and chips (South Korea, Japan) and machinery (Germany) to China. Of these, the risk is higher for economies where exports contribute significantly to GDP, because they face sharp growth downgrades if a slowing China cuts back on imports. This means that the US, which exports four times more to China in dollar terms than, say, Chile, is less directly impacted because the US economy is led by domestic consumption rather than exports.

Instacart has priced its initial public offering of stock at $30 a share, raising $660 million for the grocery delivery company

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Indian stock market will be closed on Tuesday on account of Ganesh Chaturthi, therefore, there will be no trading activity today. As per the list of stock market holidays 2023 available on the BSE website — bseindia.com, trading on NSE and BSE will remain closed on Tuesday for the celebration of Ganesh Chaturthi 2023. So, trading in equity Segment, equity derivative segment, and SLB segment will remain closed on Tuesday.

High food inflation had dented demand in several categories as household budgets were disrupted. Leading biscuit manufacturer Parle Products notched up 20% sales volume growth in the last few months, after offering a 7-10% price reduction via cuts or promotions.Emami said categories such as healthcare and pain management saw 3-4% volume growth in the last two months after promotional offers. Adani Wilmar edible oil volumes surged 25% last quarter as prices plunged 40-45% over the past year.Effect on electronics Krishnarao Buddha, senior category head at Parle Products, said there is a strong and disproportionate correlation linking price cuts, demand and volume growth. The price cut-volume growth effect is also visible in some electronic products.

New Delhi: Continental Device India Pvt. Ltd (CDIL), India’s oldest semiconductor company that moved away from manufacturing 15 years ago, may set up its own fab in India in the long term, a top executive said, provided an enabling ecosystem comes up in the country. In the meantime, it is focusing on its local ATMP (assembly, testing, marking and packaging) business, expanding its 500 million unit capacity by 100 million units more.

Myntra is starting a new experiment with its fee for product returns imposed on customers with high return rates, people in the know said. The experiment, under a project called «return-as-a-service», comes a few months after Myntra instituted a flat «convenience fee» of between Rs 199 and Rs 299 on every order made by customers with a high rate of product returns. These customers usually made twice as many or more product returns as the average customer, a person in the know told ET.

OTT platforms considering that some streaming apps have started offering bandwidth-heavy services and generating disproportionately high traffic, which is forcing telcos to upgrade and enhance the capacity of their networks. Therefore, telecom service providers are seeking a contribution from the OTTs for network expenses. In fact, Cellular Operators Association of India, which represents interests of carriers, has argued that large OTT players earn from consumers as well as advertisers, and hence suggested that a ‘fair share’ of revenues must be share with the telcos that do not earn from carriage fees for the content.

Department of Telecommunications (DoT) has removed over-the-top (OTT) players, or apps, from the definition of telecommunication services in the Telecom Bill, giving huge relief to communication service providers such as WhatsApp, Signal and Telegram, which will thus remain out of telecom regulation. The DoT believes the existing definition under Indian Telegraph Act is good enough and there is no need to specifically put OTT in the new Bill. «We (DoT) don't have any intent to regulate OTT.

prisoners sought by the U.S. in a swap with Iran were freed Monday and headed home as part of a deal that saw nearly $6 billion in Iranian assets unfrozen. Despite the deal, tensions are almost certain to remain high between the U.S.

The world’s first fractional bond exchange using the latest in distributed ledger technology now has Citi Securities Services as its first digital custodian participant.

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Ashwini Vaishnaw on Monday said the government was «fully committed» to Foxconn's plans to expand its manufacturing footprint in the country. «Fully committed to support and facilitate,» Vaishnaw said on X (formerly Twitter) and quoted the Foxconn India representative V Lee's LinkedIn post on Sunday where he had wished Prime Minister Narendra Modi on the occasion of his birthday and said the Taiwanese contract manufacturer was “aiming for another doubling of employment, FDI (foreign direct investment), and business size in India” by this time next year.

Aditya-L1, India's first space-based solar observatory, has begun collecting scientific data, the Indian Space Research Organisation (Isro) announced on Monday morning. The sensors of the Supra Thermal & Energetic Particle Spectrometer (STEPS) instrument have begun measuring supra-thermal and energetic ions and electrons at distances greater than 50,000 km from Earth, the space agency said. This data helps scientists analyse the behaviour of particles surrounding Earth.

Indian stock market is closed tomorrow or it will remain open for trade. For those who don't know whether trading on BSE and NSE will be available on Tuesday or not, there is a piece of stock market news for such investors. As per the list of stock market holidays 2023 available on the BSE website — bseindia.com, trading on NSE and BSE will remain closed on Tuesday for celebration of Ganesh Chaturthi 2023.

Bharat Electronics (BEL) jumped 7% to Rs 145 in Monday's trade on BSE after the firm received orders worth Rs 3,000 crore. «Bharat Electronics received an order of Rs 2,118.57 crore from Cochin Shipyard for the supply of various equipments consisting of sensors, weapon equipment, fire control systems and communication equipment for six numbers of next-generation missile vessels (NGMV), class of anti-surface warfare corvettes for Indian Navy,» the company said in an exchange filing. This project will have the participation of Indian electronics and associated industries, including MSMEs, which are sub-vendors of BEL. The company has also received additional orders worth Rs 886 crore for the upgrade of AFNET SATCOM N/W, upgrade of Akash Missiles with RF Seeker, Inertial Navigation System and other equipment with accessories and spares etc. At 10.14 a.m., the scrip was trading 3.1% higher at Rs 140 on BSE. The stock has also surged 40% year-to-date, while it has gained 50% in the past six months. In Q1 FY23, Bharat Electronics reported a 23% YoY rise in net profit at Rs 530.84 crore.

Madanagopal Ramu, fund manager and the head of equity at Sundaram Alternate Assets believes the rich valuations in specific segments of mid and small-cap space are the biggest risk for the markets. In an interview with Mint, he said one can hold some cash at this time and invest in stocks with long-term growth potential during corrections. Crude price historically is a short-term cyclical factor and a difficult one to judge. We always see market corrections due to crude, typically, as an opportunity to invest and in portfolios, we make use of this correction to invest in some good opportunities, which we would’ve stayed away from due to valuations.

₹3,000 crore. BEL shares jumped as much as 6.85% to a high of ₹145.00 apiece on the BSE. Bharat Electronics received an order of ₹2,118.57 crore from Cochin Shipyard Limited for supply of various equipment consisting of Sensors, Weapon equipment, Fire Control systems and Communication equipment for six numbers of Next Generation Missile Vessels (NGMV), class of anti-surface warfare corvettes for Indian Navy.