HAL to supply Advanced Light Helicopters to Indian Coast Guard; stock climbs ~3%

17 Mar 2023 , 10:30 AM

Under the leadership of Raksha Mantri Shri Rajnath Singh, the Defence Acquisition Council (DAC) convened a meeting on March 16, 2023, during which it granted Acceptance of Necessity (AoN) for a capital acquisition worth more than Rs70,500 crore under the Buy (Indian-IDDM) category, which pertains to indigenously designed, developed, and manufactured products.

In this regard, HAL informed that during the meeting held on March 16, 2023, the Defence Acquisition Council (DAC) granted Acceptance of Necessity (AoN) for the procurement of Advance Light Helicopters (ALH) MK-III for the Indian Coast Guard from the company.

The helicopter will be equipped with a set of surveillance sensors to boost surveillance capabilities, and will be capable of operating at night and under Instrument Flight Rules (IFR) to enhance the operational efficiency of the Indian Coast Guard, said HAL.

Indian Navy proposals make up a significant portion of the total proposals, with a value of more than Rs56,000 crore. These proposals mainly involve the acquisition of indigenous BrabMos missiles, Shakti Electronic Warfare (EW) systems, and Utility Helicopters-Maritime.

Following this development, Hindustan Aeronautics was trading 2.98% higher at Rs2,803.90 apiece, against the previous close of Rs2,722.75 on NSE. The counter hit an intraday high of Rs2,850 so far.

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