Shares of six defence equipments makers rose by 0.04% to 5.77% at 13:19 IST on BSE as a total of 41 proposals for an indicative cost of Rs 119719 crore have been cleared by the Defence Acquisition Council since June 2014.
Astra Microwave Products (up 5.77%), Bharat Electronics (up 5.13%), Walchandnagar Industries (up 4.99%), BEML (up 3.86%), Pipavav Defence and Offshore Engineering Company (up 2.55%) and Dynamatic Technologies (up 0.04%), edged higher.
The S&P BSE Sensex was up 25.99 points, or 0.09% at 28,470.
A large number of defence equipment have been / are being manufactured in India using Transfer of Technology (ToT). This information was given by Defence Minister Manohar Parrikar in a written reply to Ambika Soni and Dr. T Subbarami Reddy in Rajya Sabha on Tuesday, 2 December 2014.
The government on 26 August 2014, notified increase in foreign direct investment (FDI) limit to 49% through approval route in the defence sector.
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