The industry is delighted to see government thrust on defence orders, says Nikhil Gandhi, Chairman, Pipavav Defence adding that he expects clearance for more such proposals for Army, Navy and Air Force.
In a move to boost domestic industry of the country, which imports up to 70 percent of its military hardware, the government on Saturday cleared defence projects worth Rs 80,000 crore.
Pipavav Defence and Offshore Engineering Company , a beneficiary from defence project announcements has put in bids of Rs 30,000 crore for new projects, as they claim to be well poised to secure and execute large government contracts, says company Chairman Nikhil Gandhi in an interview to CNBC-TV18.
The industry is delighted to see government thrust on defence orders, says Nikhil Gandhi, Chairman, Pipavav Defence adding that he expects clearance for more such proposals for Army, Navy and Air Force.
Going forward, the company hopes to benefit even more as complex assets like ships and submarines provide reasonable margins for companies, he adds.
Transcript to follow shortly
Pipavav Defence stock price
On October 27, 2014, at 14:08 hrs Pipavav Defence and Offshore Engineering Company was quoting at Rs 43.05, up Rs 2.05, or 5.00 percent. The 52-week high of the share was Rs 73.90 and the 52-week low was Rs 30.55.
The company's trailing 12-month (TTM) EPS was at Rs 0.09 per share as per the quarter ended June 2014. The stock's price-to-earnings (P/E) ratio was 478.33. The latest book value of the company is Rs 31.74 per share. At current value, the price-to-book value of the company is 1.36.
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