Hindustan Aeronautics gains on inking contract worth Rs 667 crore with MoD

Hindustan Aeronautics is currently trading at Rs. 2875.45, up by 25.60 points or 0.90% from its previous closing of Rs. 2849.85 on the BSE.

Hindustan Aeronautics e1642150646406
Hindustan Aeronautics

The scrip opened at Rs. 2855.00 and has touched a high and low of Rs. 2915.00 and Rs. 2855.00 respectively. So far 37094 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 10 has touched a 52 week high of Rs. 2,915.00 on 13-Mar-2023 and a 52 week low of Rs. 1360.00 on 15-Mar-2022.

Last one week high and low of the scrip stood at Rs. 2912.00 and Rs. 2696.60 respectively. The current market cap of the company is Rs. 96183.22 crore.

The promoters holding in the company stood at 75.15%, while Institutions and Non-Institutions held 19.85% and 4.99% respectively.

Ministry of Defence (MoD) has signed a contract with Hindustan Aeronautics (HAL) for procurement of six Dornier -228 aircraft for the Indian Air Force (IAF) at a cost of Rs 667 crore. The aircraft was used by IAF for Route Transport Role and communication duties. Subsequently, it has also been used for training of transport pilots of the IAF.

The present lot of six aircraft will be procured with an upgraded fuel-efficient engine coupled with a five bladed composite propeller. The aircraft is ideally suited for short haul operations from semi-prepared/short runways of the North East and island chains of India. The addition of the six aircraft will further bolster the operational capability of the IAF in the remote areas.

Hindustan Aeronautics is Bengaluru based Defence Public Sector Undertakings (DPSU) Company engaged in the design, development, manufacture, repair, overhaul, upgrade and servicing of a wide range of products including, aircraft, helicopters, aero-engines, avionics, accessories and aerospace structures.

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