Defence stocks in focus after DAC clears Rs 21,772-crore acquisition proposals
Defence stocks will be in spotlight on Wednesday after the Defence Acquisition Council (DAC), under the chairmanship of Defence Minister Rajnath Singh, accorded Acceptance of Necessity (AoN) for five capital acquisition proposals worth over Rs 21,772 crore.
This included the procurement of Water Jet Fast Attack Crafts, Fast Interceptor Craft, Electronic Warfare Suite, Next Generation Radar Warning Receiver and Advanced Light Helicopters.
DAC granted the approval for the procurement of 31 New Water Jet Fast Attack Crafts (NWJFACs) for the Indian Navy. These are designed to perform the task of low intensity maritime operations, surveillance, patrol, and search and rescue (SAR) operations close to the coast. In addition, these vessels will also play a role in anti-piracy missions, in and around India's island territories.
The council also approved the procurement of 120 Fast Interceptor Craft (FIC-1). These are capable of performing multiple roles, including escorting high-value units such as aircraft carriers, destroyers, and frigates, and submarines for coastal defence.
The approval for the procurement of an Electronic Warfare Suite (EWS) equipped with external airborne self-protection jammer pods, next-generation radar warning receiver, and associated equipment for Su-30 MKI aircraft was also made. This system will enhance the operational capabilities of SU-30 MKI and protect it from enemy radars and related weapon systems while carrying out a mission against enemy targets protected by Air Defence systems.
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