
Navy to sharpen edge with induction of six stealth frigates by September 2026
The Project 17A stealth frigates that the navy will be commissioning into service by August-September 2026 are Udaygiri, Taragiri, Mahendragiri, Himgiri, Dunagiri and Vindhyagiri --- platforms that will showcase the country's warship building prowess, have an indigenous content of 75% and come with modern weapons, sensors and systems to dominate the sea battlespace, the officials said.
The navy inducted the first P-17A warship INS Nilgiri in January and is expected to commission Udaygiri in August. The ₹45,000-crore P-17A is a follow-on of the Shivalik-class (P-17) stealth frigates and represents a significant upgrade over the previous warships.
Taragiri and Mahendragiri are being built at Mumbai-based Mazagon Dock Shipbuilders Limited (MDL), and Himgiri, Dunagiri and Vindhyagiri are in different stages of construction at Kolkata-based Garden Reach Shipbuilders and Engineers (GRSE) Limited.
'There were some teething troubles when P-17A began…the first ship. The project has moved ahead smoothly thereafter. Taragiri and Mahendragiri will be delivered to the navy after the completion of necessary trials in October 2025 and February 2026,' said Jay Varghese, the P-17A in-charge at MDL.
The navy usually commissions a warship one or two months after its delivery. MDL delivered Udaygiri to the navy on July 1. The weapons on the P-17A warships include BrahMos supersonic cruise missiles and the medium range surface-to-air missile system.
Himgiri, Dunagiri and Vindhyagiri are expected to be delivered to the navy in July-end, early next year and August 2026, people aware of the matter said.
On January 15, Prime Minister Narendra Modi dedicated to the nation three locally built combat platforms, including INS Nilgiri. INS Surat, a destroyer; and Vaghsheer, the sixth and final Kalvari-class submarine --- also built at the MDL --- were commissioned on the same day. At the rare tri-commissioning, Modi said it was a significant step towards empowering the Indian Navy of the 21st century.
The development also put the spotlight on the navy's fast-paced indigenisation and how it is working on becoming fully self-reliant by 2047 when India celebrates 100 years of independence --- around 60 warships are under construction at various Indian shipyards.
The P-17A stealth frigates have a displacement of 6,670 tonnes, are 149 metres long, can reach a top speed of 28 knots and carry 225 personnel. The new platforms will boost the navy's operational capabilities and combat readiness in the Indian Ocean region, a strategic maritime expanse where the challenges include China's carefully calculated power play for influence and defending the rules-based international order.
China is seeking to expand its maritime footprint in the region by setting up military bases, pushing countries to advance its maritime claims and forcing strategic concessions from vulnerable states. The Indian Navy keeps a close watch on extra-regional activity in the region, especially the presence of Chinese vessels.
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


Business Standard
2 hours ago
- Business Standard
Nifty trades below 25,100 level; European mrkt opens higher
The frontline indices traded with modest losses in the afternoon trade, weighed down by selling in IT, realty and FMCG stocks. The Nifty traded below the 25,100 level. IT, realty and FMCG shares declined, while pharma, metal and auto shares advanced. At 13:30 IST, the barometer index, the S&P BSE Sensex, tanked 554 points or 0.67% to 82,172.64. The Nifty 50 index declined 162.60 points or 0.64% to 25,060.35. The broader market outperformed the frontline indices. The S&P BSE Mid-Cap index fell 0.49% and the S&P BSE Small-Cap index shed 0.38%. The overall market breadth was negative, with more stocks declining than advancing. On the BSE, 2,397 shares fell, while 1,532 shares advanced. 182 shares remained unchanged. Economy: The HSBC India Manufacturing PMI climbed to 59.2 in July 2025 from 58.4 in the previous month, according to preliminary estimates. The latest figure signaled a robust expansion in manufacturing activity and marked the highest reading in nearly 17 and a half years, highlighting the sector's continued momentum. The HSBC India Services PMI declined to 59.4 in July 2025 from 60.4 in the previous month, preliminary readings showed. The latest figure marked a slowdown from the fastest expansion in ten months, as output growth eased compared to the prior month. The HSBC India Composite PMI fell to 60.7 in July 2025 from a final 61.0 in June, which was a 14-month high, flash data showed. Despite the slight dip, the latest result remained well above its long-run average of 54.8. Services activity rose at a slightly slower pace, though still robust by historical standards, while manufacturing output grew the most since April 2024. Gainers & Losers: Eternal (up 3.01%), Dr. Reddy's Laboratories (up 2.63%), Tata Motors (up 1.54%), Tata Consumer Products (up 0.96%) and Cipla (up 0.88%) were the major Nifty50 gainers. Nestle India (down 4.62%), Trent (down 3.28%), Shriram Finance (down 2.98%), Tech Mahindra (down 2.99%) and HCL Technologies (down 1.58%) were the major Nifty50 losers. Stocks in Spotlight: Dr. Reddys Laboratories added 2.57% after the companys consolidated net profit rose 1.8% to Rs 1,418.10 crore on 11.4% increase in revenue from operations to Rs 8,545.20 crore in Q1 FY26 over Q1 FY25. Thyrocare Technologies surged 10.53% after the healthcare service provider reported a 61.07% increase in consolidated net profit to Rs 38.93 crore on a 23.02% rise in revenue from operations to Rs 193.03 crore in Q1 FY26 over Q1 FY25. Cigniti Technologies declined 7.66% after the companys consolidated net profit dropped 9.97% to Rs 65.9 crore on a 0.74% rise in revenue to Rs 534.2 crore in Q1 FY26 over Q4 FY25. Force Motors rallied 14.59% after the company reported a 52.39% surge in consolidated net profit to Rs 176.36 crore on a 21.88% rise in revenue from operations to Rs 2,297.25 crore in Q1 FY26 over Q1 FY25. Global Markets: European shares opened higher on Thursday, while Asian stocks advanced as fresh trade developments between the U.S. and Japan, alongside encouraging signals of a deal with the European Union, buoyed investor sentiment. Investor focus shifted to Washingtons evolving trade strategy, with U.S. President Donald Trump setting his sights on the European Union after finalizing a sweeping agreement with Japan. Negotiators from both the U.S. and EU are now under pressure to strike a deal by August 1, as the Trump administration appears firm on its tariff timeline. On Tuesday, the U.S. and Japan sealed what Trump described as "the largest trade deal in history." The agreement includes a $550 billion investment from Japan into the U.S. economy. In return, tariffs on Japanese exports to the American marketranging from automobiles to agricultural goodshave been reduced to 15% from the previously proposed 25%. Trump hailed the deal as a mutually beneficial win that opens Japans markets to U.S. cars, trucks, and farm products. Economic data from Japan, however, painted a mixed picture. The au Jibun manufacturing PMI dropped to 48.8 in Julys preliminary reading, below expectations of 50.2 and down from 50.1 in June, signaling a mild contraction. On the other hand, the services sector showed resilience, with the services PMI rising to 53.5 from 51.7 a month earlier. Overnight on Wall Street, U.S. equities finished higher after Trump promoted his trade accomplishments with Japan and Indonesia on Truth Social. He also hinted at easing tariffs if other nations opened their markets to American goods. Adding to the momentum, Washington unveiled its new AI Action (WA: ACT) Plan. The Dow Jones Industrial Average jumped 1.14% to a six-month high, while the S&P 500 gained 0.78% and the Nasdaq Composite added 0.61%.


Business Standard
4 hours ago
- Business Standard
Nifty slides below 25,100; FMCG shares extent losses for 5th day
The headline equity benchmarks traded with substantial losses in the early-afternoon trade, weighed down by selling in IT, realty and FMCG stocks. The Nifty traded below the 25,100 level. FMCG shares witnessed selling pressure for the fifth consecutive trading session. At 12:30 ST, the barometer index, the S&P BSE Sensex, tanked 529.44 points or 0.64% to 82,196.20. The Nifty 50 index declined 149.35 points or 0.59% to 25,070.55. The broader market outperformed the frontline indices. The S&P BSE Mid-Cap index fell 0.45% and the S&P BSE Small-Cap index shed 0.36%. The overall market breadth was negative, with more stocks declining than advancing. On the BSE, 2,308 shares fell, while 1,545 shares advanced. 181 shares remained unchanged. Derivatives: The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, rallied 3.92% to 10.93. The Nifty 31 July 2025 futures were trading at 25,095.30 at a premium of 24.75 points as compared with the spot at 25,070.55. The Nifty option chain for the 31 July 2025 expiry showed a maximum call OI of 63.3 lakh contracts at the 26,000 strike price. Maximum put OI of 71 lakh contracts was seen at 25,000 strike price. Buzzing Index: The Nifty FMCG index dropped 1.06% to 55,117.45. The index fell 3.03% in five consective trading sessions. Nestle India (down 5.13%), Marico (down 2.16%), Patanjali Foods (down 1.17%), Colgate-Palmolive (India) (down 1.1%), Radico Khaitan (down 1.08%), Hindustan Unilever (down 0.87%), ITC (down 0.63%), United Spirits (down 0.6%), Britannia Industries (down 0.59%) and Godrej Consumer Products (down 0.59%) declined. On the other hand, Tata Consumer Products (up 0.93%) and United Breweries (up 0.43%) edged higher. Stocks in Spotlight: Thyrocare Technologies surged 10.94% after the healthcare service provider reported a 61.07% increase in consolidated net profit to Rs 38.93 crore on a 23.02% rise in revenue from operations to Rs 193.03 crore in Q1 FY26 over Q1 FY25. Cigniti Technologies dropped 8.71% after the companys consolidated net profit dropped 9.97% to Rs 65.9 crore on a 0.74% rise in revenue to Rs 534.2 crore in Q1 FY26 over Q4 FY25.


Business Standard
5 hours ago
- Business Standard
Indices trade with minor losses, realty shares decline
The key equity indices traded with modest losses in the mid-morning trade, weighed down by selling in IT, banking, and financial services stocks. The Nifty traded below the 25,150 mark. Realty shares declined after advancing for previous trading session. At 11:30 ST, the barometer index, the S&P BSE Sensex, tanked 399.47 points or 0.48% to 82,327.17. The Nifty 50 index declined 108.40 points or 0.43% to 25,110.70. In the Small-Cap segment, Force Motors surged 12.11%, followed by Senores Pharmaceuticals which gained 11.97%, and Mukand, up 10.80%, emerging as the top gainers. On the downside, Indian Energy Exchange plunged 23%, making it the biggest loser, while Cigniti Technologies dropped 7.72% and Lumax Auto Technologies declined 5.44%. In the broader market, the S&P BSE Mid-Cap index shed 0.59% and the S&P BSE Small-Cap index fell 0.31%. The overall market breadth was negative, with more stocks declining than advancing. On the BSE, 2,083 shares fell, while 1,676 shares advanced. 179 shares remained unchanged. Economy: The HSBC India Manufacturing PMI climbed to 59.2 in July 2025 from 58.4 in the previous month, according to preliminary estimates. The latest figure signaled a robust expansion in manufacturing activity and marked the highest reading in nearly 17-and-a-half years, highlighting the sector's continued momentum. The HSBC India Services PMI declined to 59.4 in July 2025 from 60.4 in the previous month, preliminary readings showed. The latest figure marked a slowdown from the fastest expansion in ten months, as output growth eased compared to the prior month. The HSBC India Composite PMI fell to 60.7 in July 2025 from a final 61.0 in June, which was a 14-month high, flash data showed. Despite the slight dip, the latest result remained well above its long-run average of 54.8. Services activity rose at a slightly slower pace, though still robust by historical standards, while manufacturing output grew the most since April 2024. IPO Update: The initial public offer (IPO) of Brigade Hotel Ventures received bids for 1,00,43,000 shares as against 5,11,93,987 shares on offer, according to stock exchange data at 11:20 IST on Thursday (24 July 2025). The issue was subscribed 0.20 times. The issue opened for bidding on Thursday (24 July 2025) and it will close on Monday (28 July 2025). The price band of the IPO is fixed between Rs 85 and 90 per share. An investor can bid for a minimum of 166 equity shares and in multiples thereof. The initial public offer (IPO) of Indiqube Spaces bids for 2,05,92,243 shares as against 1,71,48,335 shares on offer, according to stock exchange data at 11:15 IST on Thursday (24 July 2025). The issue was subscribed 1.20 times. The issue opened for bidding on Wednesday (23 July 2025) and it will close on Friday (25 July 2025). The price band of the IPO is fixed at Rs 225-237 per share. An investor can bid for a minimum of 63 equity shares and in multiples thereof. The initial public offer (IPO) of GNG Electronics bids for 21,01,96,728 shares as against 1,41,88,644 shares on offer, according to stock exchange data at 11:15 IST on Thursday (24 July 2025). The issue was subscribed 14.81 times. The issue opened for bidding on Wednesday (23 July 2025) and it will close on Friday (25 July 2025). The price band of the IPO is fixed at Rs 225-237 per share. An investor can bid for a minimum of 63 equity shares and in multiples thereof. Buzzing Index: The Nifty Realty index fell 1.33% to 957.25. The index declined 4.86% in the previous three trading sessions. Prestige Estates Projects (down 2.01%), Lodha Developers (down 1.95%), Oberoi Realty (down 1.89%), Sobha (down 1.6%) and DLF (down 1.34%), Godrej Properties (down 0.53%) declined. On the other hand, Raymond (up 1.14%) ,Brigade Enterprises (up 0.53%) and Anant Raj (up 0.34%) added. Stocks in Spotlight: Infosys dropped 1.07% after the companys consolidated net profit declined 1.59% to Rs 6,921 crore despite a 3.31% increase in revenue from operations to Rs 42,279 crore in Q1 FY26 over Q4 FY25. On a year on year (YoY) basis, the companys net profit and revenue jumped 8.68% and 7.54%, respectively in Q1 FY26. The companys total contract value (TCV) of large deal wins was $3.8 billion in Q1 FY26, with a net new of 55%. The companys total clients stood at 1,861 as on 30th June 2025 as compared with 1,867 clients as on 30th June 2024. The IT major has informed that the voluntary attrition rate (LTM IT Services) came in at 14.4% in Q1 FY26, up from 14.1% in Q4 FY25 and 12.7% in Q1 FY25. Indoco Remedies rose 2.35% after the company announced the receipt of certificate for EU Good Manufacturing Practices (GMP) compliance from the European Health Authorities for its sterile drug product manufacturing facility Goa Plant II. Global Markets: Asian market traded higher on Thursday as fresh trade developments between the U.S. and Japan, alongside encouraging signals of a deal with the European Union, buoyed investor sentiment. Investor focus shifted to Washingtons evolving trade strategy, with U.S. President Donald Trump setting his sights on the European Union after finalizing a sweeping agreement with Japan. Negotiators from both the U.S. and EU are now under pressure to strike a deal by August 1, as the Trump administration appears firm on its tariff timeline. On Tuesday, the U.S. and Japan sealed what Trump described as "the largest trade deal in history." The agreement includes a $550 billion investment from Japan into the U.S. economy. In return, tariffs on Japanese exports to the American marketranging from automobiles to agricultural goodshave been reduced to 15% from the previously proposed 25%. Trump hailed the deal as a mutually beneficial win that opens Japans markets to U.S. cars, trucks, and farm products. Economic data from Japan, however, painted a mixed picture. The au Jibun manufacturing PMI dropped to 48.8 in Julys preliminary reading, below expectations of 50.2 and down from 50.1 in June, signaling a mild contraction. On the other hand, the services sector showed resilience, with the services PMI rising to 53.5 from 51.7 a month earlier. Overnight on Wall Street, U.S. equities finished higher after Trump promoted his trade accomplishments with Japan and Indonesia on Truth Social. He also hinted at easing tariffs if other nations opened their markets to American goods. Adding to the momentum, Washington unveiled its new AI Action (WA:ACT) Plan. The Dow Jones Industrial Average jumped 1.14% to a six-month high, while the S&P 500 gained 0.78% and the Nasdaq Composite added 0.61%.