HAL stock price rises after it gets LOI for 9 helicopters from Indian Coast Guard

16 Nov 2022 , 02:38 PM

In hefty trading volumes on Wednesday, Hindustan Aeronautics’ shares surged 7% to an all-time high of Rs 2,697.70 on the BSE after the company obtained a letter of intent (LoI) from the Indian Coast Guard for nine additional advanced light helicopters (ALH) Mk-III.

The state-owned aerospace and defense company’s stock has risen above the previous record high of Rs. 2,639 set on September 12, 2022. 3.23 million shares were traded on the NSE and BSE together up to 1:31 p.m., doubling the counter’s previous trading volume.

The stock price of HAL has increased by 123% so far in the calendar year 2022, compared to a rise of 4.8% in the S&P BSE Sensex. The final of the 16 ALH Mk-IIIs was turned over to ICG, according to a Tuesday announcement from HAL. A deal for supplying 16 ALHs to ICG by HAL was signed in March 2017 for approximately Rs 5,126 crore.

On Friday, November 18, the stock of HAL will become ex-date for an interim dividend of Rs 20. The corporation has set the first interim dividend payment record date as Monday, November 21.

For feedback and suggestions, write to us at [e-mail]