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A contract for the Mid Life Upgrade (MLU) of 25 Dornier aircraft and related equipment for the Indian Navy was signed by the Ministry of Defence and the business on March 15.
The defence ministry and the firm signed two contracts on March 13th, worth a total of ₹8,073 Crore, to purchase 34 cutting-edge light helicopters and related equipment for the Indian Army and the Coast Guard.
The DAC's approval aligns with India's ongoing military standoff with China in eastern Ladakh.
HAL shares rise 2% on the BSE, reaching ₹2905.
The collaboration highlights strategic Indo-French cooperation, emphasizing the joint development and manufacture of aircraft engines
The dual seater design, according to the Bengaluru-based business, has all the necessary capabilities to fulfill the IAF's training needs and can even expand to serve as a fighter if necessary.
Purchasing Dhruvastra air-to-surface missiles and upgrading Dornier planes are also included in the proposals.
L&T and HAL, already engaged with ISRO, are set to deliver five Polar Satellite Launch Vehicles (PSLV) under existing contracts.
The signing of the Letter of Intent (LoI) took place on Thursday, enhancing bilateral ties in the field of aviation between the two nations.
HAL will reportedly manufacture the Dornier Aircraft at its facility situated in Kanpur.
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www.indiainfoline.com is part of the IIFL Group, a leading financial services player and a diversified NBFC. The site provides comprehensive and real time information on Indian corporates, sectors, financial markets and economy. On the site we feature industry and political leaders, entrepreneurs, and trend setters. The research, personal finance and market tutorial sections are widely followed by students, academia, corporates and investors among others.
Copyright © IIFL Securities Ltd. All rights Reserved.
Stock Broker SEBI Regn. No: INZ000164132, PMS SEBI Regn. No: INP000002213, IA SEBI Regn. No: INA000000623, SEBI RA Regn. No: INH000000248
This certificate demonstrates that IIFL as an organization has defined and put in place best-practice information security processes.