Shares of Hindustan Aeronautics (HAL) on Friday (December 13) opened with a positive market reaction following its announcement of a Rs 13,500 crore deal with the Ministry of Defence for the procurement of 12 Su-30 MKI aircraft.
HAL Shares See Investor Interest
In response to this announcement, the company’s stock opened at Rs 4,754.50, reaching a high of Rs 4,755 during the early trading hours.
By 10:37 AM IST, the stock was trading at Rs 4,677.80, reflecting a gain of Rs 17.25 or 0.37 per cent.
A Major Defence Deal
HAL on December 12 has secured a contract with the Ministry of Defence for the procurement of 12 Su-30 MKI aircraft, valued at approximately Rs 13,500 crore, including taxes and duties.
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“In a major boost to the Aatmanirbhar Bharat’ initiative of the government, a contract for procurement of 12 Su-30MKI aircraft along with associated equipment has been signed between Ministry of Defence and M/s Hindustan Aeronautics Limited (HAL) today on 12.12.2024, at an approximate cost of 13,500 Crore inclusive of taxes and duties,” added the company in the BSE filing.
As per the regulatory filing the company further noted, “The aircraft would have an indigenous content of 62.6%, enhanced due to indiginisation of many components to be manufactured by Indian defence industry.”
Key Financial Indicators and Stock Performance
As of the latest updates, HAL’s market capitalisation stands at Rs 3.13 lakh crore, with a price-to-earnings ratio of 36.73.
Moreover, the company has a dividend yield of 0.75 per cent. The company’s 52-week high stood at Rs 5,674.75, while its low was Rs 2,585.00.
HAL has seen an increase of Rs 74.35 or 1.61 per cent in its stock price over the past five days, bringing it to Rs 4,692.00.
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