On Air Force Day Rolls-Royce reinforces its commitment to the Forces

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New Delhi, Oct 7 | A proud partner of the Indian Air Force (IAF) since 1933 when the Rolls-Royce Bristol Jupiter Engine powered the first flight of the IAF, Rolls-Royce congratulates India’s brave air soldiers on the occasion of 89th Indian Air Force Day.

Over 750 Rolls-Royce engines of 10 engine types are powering different aircraft of the Indian military, including combat and strike aircrafts, trainers, strategic airlift, VVIP and surveillance aircrafts. Over the years, Rolls-Royce has established a strong ecosystem in India to support these engines. A dedicated Defence Service Centre in Bengaluru supports all Rolls-Royce engines in operation with the Armed Forces, with a dedicated team ensuring optimum availability of engines and time on wing, while reducing maintenance and overhaul times.

Kishore Jayaraman, President – India and South Asia, Rolls-Royce said, “It has been both our privilege and honour to serve the Indian Air Force for the last eight decades, and we salute the brave officers of the IAF on the occasion of Air Force Day. As India envisions the fleet of the future, our commitment to support the country’s defence indigenization and self-reliance goals remains as strong as ever.”

Through its growing partnership with Hindustan Aeronautics Limited, Rolls-Royce has further reinforced its commitment to serve the Indian Air Force and enable the mission capability of the fleet. Rolls-Royce engines have been ‘made in India’ and supported by HAL for over 60 years. The partnership has evolved to include an authorised maintenance centre at HAL for Adour Mk871 engine and a supply chain agreement that enables Adour engine parts to be made in India to support IAF and Rolls-Royce’s global customers.

Abhishek Singh, Senior Vice President – Defence, India and South East Asia, Rolls-Royce said, “We are honoured to have been supporting the Indian Armed Forces to fulfil critical training, transport and combat roles. We will continue to support the mission readiness of our engines powering the IAF fleet and enable the ‘power to protect’ through our technologically advanced product and service offerings.”

Prominent Rolls-Royce engine types powering various military aircrafts in India include combat and strike aircraft Jaguar powered by the Adour Mk811, Hawk Advanced Jet Trainer powered by Adour Mk871, strategic airlift aircraft C-130J Hercules powered by AE2100, VVIP and Surveillance aircraft ERJ145 powered by AE3007.

Source: IANS

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Share Market Closing Bell: Nifty ends below 16,100, Sensex falls 303 pts

Share Market Closing Bell: Nifty ends below 16,100, Sensex falls 303 pts

Dalal Street found no relief with incessant sell off during the month. Nifty traded on a bearish note and ended at 16025.80 with loss of 99.35 points or 0.62 percent following weak global cues on Wednesday. While Banknifty closed at 34339.50 on the higher side with marginal gain of 49.35 points.

bhaskarlive market closing

The weakness in US stocks is playing out globally with signs of higher inflation, which has spoiled investors’ appetite for the Indian market as well. Rising India VIX to 25.28 has led Indices to big intraday swings on both sides. Sectorally maximum sectors closed on the negative side as Nifty IT and Nifty Media sheds more than 3 percent each. While Nifty Financial Services ended on a positive side gaining 0.68 percent.

In nifty stocks, NTPC, HDFCLIFE, SBILIFE were the top gainers while ASIANPAINT, ADANIPORT and TECHM were the prime laggards. Coming to the OI Data, on the call side highest OI witnessed at 16200 followed by 16300 strike price while on the put side, the highest OI was at 15800 strike price. Technically, Nifty has formed three black crow patterns in the daily chart suggesting bearishness would remain intact. We expect a rise in volatility as well on monthly expiry day.

Riding against the trend may not be beneficial for short term traders. All major moving averages are lying above 16300 levels. Indicators such as MACD and RSI are still struggling to overcome the oversold zone in the daily time frame. Overall, Nifty is having support at 15800 mark while on the upside 16300 may act as an immediate resistance for monthly expiry. While Banknifty has support around 33500 while resistance is placed at 35200 on the daily chart.

Om Mehra
Research Associate
Choice Broking

Source: Choice India

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