Hindustan Aeronautics Ltd. (HAL) saw a significant increase in its stocks of 3% on March 26. The jump came after the defense PSU successfully bid for a lucrative order worth approximately 194 million rupees–from the government of Guyana.
Under the agreement HAL is required to deliver:
- Two Hindustan-228 commuter aircraft, MRLS (Manufacturer Recommended List of Spares), ground handling equipment and ground support equipment.
This victory follows another major win only last week, when HAL was awarded a huge contract worth 2.89 million crores by Defence Ministry. The work involves the installation of all-new avionics systems primary role sensors and mid-life upgrade (MLU) 25 Dornier aircraft to give them greater operational capability for Indian Navy.
As of 11:55 am the shares were trading 2.94% at ₹3,264.10 on NSE.