Key Points of HAL’s New Order:
- Hindustan Aeronautics Limited (HAL) has won a contract worth Rs 667 crore from the Ministry of Defence for the procurement of six Domier-228 aircraft for the Indian Air Force (IAF).
- The announcement of this order caused HAL’s share price to surge by 2% on March 13.
- HAL has witnessed a decent order inflow in recent weeks, including the acquisition of 70 HTT-40 basic trainer aircraft from HAL for Rs 6,828.36 crore.
- HAL has also secured a contract with the Argentinian Air Force for the supply of spares and engine repair of legacy two-tonne class helicopters.
- HAL’s Chairman and Managing Director CB Ananthakrishnan reported that the company’s order book position is Rs 84,000 crore, and another Rs 50,000 crore worth of orders are in the pipeline.
- The outlook for defence equipment makers like HAL has turned brighter due to initiatives like Atmanirbhar Bharat and geopolitical tensions.
- HAL is the largest defence PSU in India, with a diverse range of products, including aircraft, helicopters, aero-engines, avionics, accessories, and aerospace structures. HAL’s stock has skyrocketed over 400% in the past three years and has given over 100% returns in the past one year.
Details of HAL’s New Order
Hindustan Aeronautics Limited (HAL) Shares Surge 2% After Winning Rs 667 Crore Order
On March 13, the share price of Hindustan Aeronautics Limited (HAL) surged by 2% after the announcement of winning a Rs 667 crore order from the defence ministry. As per the regulatory filing, the Ministry of Defence signed a contract on March 10, 2023, for the procurement of six Domier-228 aircraft for the Indian Air Force (IAF) from HAL.
The government-owned defence major’s shares were trading 1.5% higher at Rs 2,891.20 on the Bombay Stock Exchange at 10.33 am. HAL has witnessed decent order inflow in recent weeks, including the acquisition of 70 HTT-40 basic trainer aircraft from HAL for Rs 6,828.36 crore and a contract with the Argentinian Air Force for the supply of spares and engine repair of legacy two-tonne class helicopters.
According to HAL Chairman and Managing Director CB Ananthakrishnan, the defence equipment maker had an order book position of Rs 84,000 crore, and another Rs 50,000 crore worth of orders were in the pipeline. With initiatives like Atmanirbhar Bharat and geopolitical tensions, the outlook for defence equipment makers has turned brighter. HAL’s stock has skyrocketed over 400% in the past three years and has given over 100% returns in the past one year.
HAL is the largest defence PSU in India that designs, develops, manufactures, repairs, overhauls, upgrades and services a wide range of products, including aircraft, helicopters, aero-engines, avionics, accessories and aerospace structures.
About HAL:
Hindustan Aeronautics Limited (HAL) is a state-owned Indian aerospace and defense company headquartered in Bangalore, under the Ministry of Defence of the Government of India. Established on December 23, 1940, HAL is among the largest and most established aerospace and defense manufacturers globally.
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