HAL signs supply contract with Argentine Air Force; stock gains ~1%

17 Feb 2023 , 09:48 AM

Hindustan Aeronautics Limited informed that it has entered into a contract with the Argentinian Air Force for the supply of spares and engine repair of legacy two-tonne class helicopters.

HAL is India’s largest defense Public Sector Undertaking (PSU). It designs, develops, manufactures, repairs, overhauls, upgrades, and services a wide range of aerospace products, including aircraft, helicopters, avionics, aero engines, accessories, and aerospace structures.

The company has a healthy order book position of Rs84,000 crore, which is 3.2 times trailing twelve-month (TTM) revenues, driven by large-scale orders in aircraft and helicopter manufacturing.

Following this development, Hindustan Aeronautics opened higher in Friday’s morning session at Rs2,668. So far, it was trading 1.05% higher at Rs2,692.05 per piece, against the previous close of Rs2,665.40 on NSE.

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