Profit Making Stocks - Hindustan Aeronautics (HAL) trades higher on the BSE

Hindustan Aeronautics is trading at Rs. 4907.10, up by 76.60 points or 1.59% from its previous closing of Rs. 4830.50 on the BSE.

The scrip opened at Rs. 4854.75 and has touched a high and low of Rs. 4949.85 and Rs. 4795.30 respectively. So far 68633 shares have been traded on the counter.

The BSE group 'A' stock of face value Rs. 5 has touched a 52-week high of Rs. 5675.00 on 09-Jul-2024 and a 52-week low of Rs. 1767.95 on 26-Oct-2023.

Last week high and low of the scrip stood at Rs. 4949.85 and Rs. 4541.75 respectively. The current market cap of the company is Rs. 328164.55 crore.

The promoters holding in the company stood at 71.64%, while Institutions and Non-Institutions held 20.49% and 7.87% respectively.

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Hindustan Aeronautics (HAL) has secured an order of over Rs 26,000 crore inclusive of all taxes and duties for the supply of 240 aero-engines (AL-31FP) for Su-30 MKI aircraft of the Indian Air Force (IAF) under Buy (Indian) category. The delivery of these aero-engines would start after one year and complete over eight years.

The engines will have indigenous content of over 54%, enhanced due to the indigenization of some key components of aero-engines. These would be manufactured at the Koraput division of HAL. Su-30 MKI is one of the most powerful and strategically significant fleets of IAF. The supply of these aero-engines by HAL would meet the fleet sustenance requirement of IAF to continue their unhindered operations and strengthen the defense preparedness of the country.

The Cabinet Committee on Security has approved the proposal for the procurement of 240 aero-engines (AL-31FP) for Su-30 MKI aircraft of the Indian Air Force under the Buy (Indian) category from Hindustan Aeronautics.

Hindustan Aeronautics is a Bengaluru-based Defence Public Sector Undertakings (DPSU) Company engaged in the design, development, manufacture, repair, overhaul, upgrade, and servicing of a wide range of products, including aircraft, helicopters, aero-engines, avionics, accessories, and aerospace structures.

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