New Delhi, Oct 6: Public sector giant Steel Authority of India Limited (SAIL) has supplied the entire requirement of special grade steel for the INS Androth, commissioned into the Indian Navy on Monday, marking a proud milestone in the country’s journey to achieve self-reliance in the defence sector.

INS Androth is the second vessel in the series of Anti-Submarine Warfare Shallow Water Craft (ASW-SWC) corvettes, the first being INS Arnala, which was commissioned on 18th June this year.

SAIL has supplied the full quantity of special grade steel – including HR Sheets and Plates – for the eight ASW-SWC, including INS Arnala and Androth, being built by Garden Reach Shipbuilders and Engineers Ltd. (GRSE).

The steel was sourced from SAIL’s plants in Bokaro, Bhilai and Rourkela. INS Androth’s commissioning underscores India’s growing maritime capabilities and the nation’s commitment to “Aatmanirbhar Bharat,” according to a SAIL statement.

SAIL had also supplied 8,000 tonnes of critical-grade steel for the country’s advanced frontline warships INS Udaygiri and INS Himgiri, which were inducted into the Indian Navy fleet in August this year.

SAIL played a crucial role in building these two advanced frigates for the Indian Navy. Partnering with Mazagon Dock Shipbuilders Limited (MDL) and Garden Reach Shipbuilders & Engineers Limited (GRSE), SAIL supplied essential critical-grade hot-rolled sheets and plates from its Bokaro, Bhilai, and Rourkela Steel Plants.

By developing and providing critical-grade steel for the Indian Navy, SAIL has made a significant contribution to import substitution and defence self-reliance, directly supporting the ‘Atmanirbhar Bharat’ and ‘Make in India’ initiatives and lessening India’s dependence on imported special quality steel for defence requirements.

Special Plate Plant at RSP alone has supplied over 100,000 tonnes of critical grade steel for defence applications like tanks, warships, and missiles, the statement said.

The commissioning of INS Udaygiri and INS Himgiri powerfully demonstrates the strength and depth of a fully indigenous defence ecosystem – from the foundational steel to the intricate design and dedicated crew.

SAIL’s enduring partnership with India’s defence sector is well-established, with a proud history of supplying critical-grade steel for iconic vessels such as the INS Vikrant, INS Nilgiri, INS Ajay, INS Nistar, INS Vindhyagiri, and INS Surat, among others. This unwavering commitment solidifies SAIL’s standing as a trusted national manufacturer and a vital collaborator in the country’s ongoing naval modernisation, the SAIL statement added.

Mumbai, Oct 6: Indian stock markets opened slightly higher on Monday, supported by gains in banking and IT shares, as investor sentiment improved following the Reserve Bank of India’s recent lending reforms and ahead of the upcoming quarterly earnings season.

At the opening bell, the Sensex rose 67 points, or nearly 0.09 per cent, to 81,274.79, while the Nifty advanced 22 points, or nearly 0.10 per cent, to 24,916.55.

Among the major gainers on the Sensex were Bajaj Finance, HDFC Bank, Axis Bank, HCL Tech, TCS, Trent, and Infosys, which climbed up to 1 per cent.

In the broader markets, the Nifty MidCap and Nifty SmallCap indices also moved up by 0.11 per cent and 0.08 per cent, respectively.

Market analysts said the Indian equity benchmarks showed strength despite global uncertainties and domestic challenges.

They attributed the positive momentum to the RBI’s dovish stance, which kept the repo rate unchanged at 5.5 per cent, while lowering the inflation forecast for FY26 and raising the GDP growth outlook.

“Capital market lending reforms and expectations of strong festive demand also boosted investor confidence,” analysts added.

Analysts, however, advised traders to remain cautious amid ongoing volatility.

“A buy-on-dips strategy remains advisable, especially in leveraged positions. Investors should book partial profits on rallies and use tight stop-losses. Fresh long positions should be taken only if the Nifty sustains above the 25,000 mark,” they said.

This week, market activity is expected to be influenced by corporate earnings announcements, management commentaries on the second half of FY26, developments in the IPO market, the release of FOMC minutes, and US Federal Reserve Chair Jerome Powell’s speech.

Hopes of progress in the India-US trade deal are also likely to guide investor sentiment.

On Friday, both benchmark indices had extended their rally for a second straight session.

The Sensex had closed 223.86 points, or 0.28 per cent, higher at 81,207.17, while the Nifty rose 57.95 points, or 0.23 per cent, to settle at 24,894.25.

Mumbai, Oct 4: The Indian equities closed the holiday-shortened week with a positive bias after recent corrections as investors’ confidence was reinforced with the RBI’s growth stance, analysts said on Saturday.

On Friday, Sensex ended the session at 81,207.17, up 223.86 points or 0.28 per cent. Nifty closed at 24,894.25, up 57.95 points or 0.23 per cent. The Nifty extended its pullback for the second straight session, crossing above its key 50-DMA at 24,830 and forming a bullish candle on the daily chart. After last week’s steep decline, the index displayed signs of recovery by closing above the 24,800 mark.

According to market watchers, upgrading the FY26 GDP growth forecast by the RBI to 6.8 per cent and announcing landmark reforms led to outperformance in the banking sector.

“Metals continued their upward momentum, supported by optimism over an anticipated Fed rate cut in October, a softer dollar index, and steady base metal prices,” said Vinod Nair, Head of Research, Geojit Investments Ltd.

Meanwhile, gold extended its safe-haven appeal, while silver rose on the back of strong industrial demand and supply-side constraints.

Consumer-facing sectors gained momentum on expectations of festive demand, whereas IT and pharma lagged amid the lack of progress on the US-India trade pact, said analysts.

According to a note by Bajaj Broking Research, benchmark indices ended the truncated week on a positive note, posting gains of nearly 1 per cent.

PSU bank stocks were another major contributor, with the Nifty PSU Bank index climbing over 4 per cent for the week. In Friday’s session, metals, PSU banks, and consumer durables led the gains, each rising between 1 per cent and 2 per cent.

Bank Nifty continue to demonstrate notable strength over the past 3-4 sessions. The formation of a bullish candle with a higher high and higher low in the daily chart signals continuation of the positive momentum underpinned by strength in large cap banking stocks.

Looking ahead, market momentum is expected to be supported by strong H2 FY26 earnings and seasonal demand tailwinds, though global trade developments and US policy actions could inject short-term volatility, said analysts.

The Fed’s recent 25-bps rate cut, coupled with prospects of further easing, is likely to bolster FII inflows into emerging markets, they added.