HAL strikes new lifetime high, emerges L1 bidder for ISRO's new project

11 Apr 2022 , 12:16 PM

Hindustan Aeronautics Limited and L&T consortium have emerged as L1 to make 5 Polar Space Launch Vehicles (PSLVs) for ISRO.

Hindustan is the leading partner with L&T sharing the work. Other vendors will also be involved with the consortium in the manufacturing of the Launch Vehicles. However, the contract is not yet formalised/ awarded.

ISRO’s commercial arm, NSIL floated the RFP for the said work earlier in December 2020.

Post this development, HAL’s counter hit a lifetime high of Rs1,693, and is currently trading at Rs1,677, up by 3.51% against its previous closing of Rs1,620.20 on NSE.