HAL receives IOC for its Light Utility Helicopter from UP govt

The stock is trading lower by 2.5% in trade today.

Feb 07, 2020 09:02 IST India Infoline News Service

Hindustan Aeronautics
The Hindustan Aeronautics Limited (HAL) has received the Initial Operational Clearance (IOC) for its Light Utility Helicopter (LUH) paving the way for its productionisation. R Madhavan, CMD, HAL   received   the IOC document from G Sateesh Reddy, Secretary, Department of Defense R & D and Chairman, DRDO at the ‘Bandhan’ programme. held at ongoing DefExpo 2020 today in the presence of Defence Minister Rajnath Singh and Uttar Pradesh Chief Minister Yogi Adityanath and others.
Madhavan said, "This is a momentous occasion for HAL. It reinforces our commitment towards indigenous R&D programs on self-reliance and enhancing operational effectiveness of the Indian Armed Forces. HAL is fully geared up to fulfil the requirements of its customers in a time bound manner".
Arup Chatterjee, Director, Engineering & R&D, HAL, said "the performance of basic configuration of LUH in all terrains and under all weather conditions is satisfactory and HAL is moving towards the next phase of integrating and flight testing of Mission & Role Equipment on LUH".

Hindustan Aeronautics Ltd is currently trading at Rs784 down by Rs17.1 or 2.13% from its previous closing of Rs801.10 on the BSE.
The scrip opened at Rs796.75 and has touched a high and low of Rs810 and Rs781 respectively. So far 26,908 (NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs26,787.78cr.

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