HAL Stock Up 2% on ₹2,890 Crore Defence Order

18 Mar 2024 , 11:01 AM

In early trading on March 18, shares of Hindustan Aeronautics (HAL) increased by 2% to ₹3,157 following the company’s receipt of an order worth ₹2,890-Crore from the defence ministry.

According to the business, the Ministry of Defence has inked a deal for the Indian Navy’s mid-life upgrade (MLU) of 25 Dornier aircraft and related equipment.

Installing avionics equipment and primary function sensors, as well as improving their operational capability to carry out the major tasks of maritime surveillance, coastal surveillance, electronic intelligence, and the creation of maritime domain awareness, are all part of the MLU for the Dornier aircraft.

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 shares closed at ₹1,767.95 on October 26, 2023, and ₹4,180.00 on September 11, 2023, respectively, marking its 52-week high and low. The stock is currently trading 78.57% above its 52-week low and 24.47% below its 52-week high.

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