Friday, December 13, saw a good market response to Hindustan Aeronautics (HAL) announcement of a Rs 13,500 crore agreement with the Ministry of Defence to purchase 12 Su-30 MKI aircraft.
The stock of the business opened at Rs 4,754.50 in reaction to this announcement, and it peaked at Rs 4,755 during the early trading hours. The stock was up Rs 17.25, or 0.37 percent, at Rs 4,677.80 in the morning.
The Ministry of Defence and HAL signed a contract on December 12 for the purchase of 12 Su-30 MKI aircraft, with a total estimated value of Rs 13,500 crore, including taxes and customs.
“A contract for the procurement of 12 Su-30MKI aircraft along with associated equipment has been signed between the Ministry of Defence and M/s Hindustan Aeronautics Limited (HAL) today, 12.12.2024, at an approximate cost of 13,500 Crore inclusive of taxes and duties, in a major boost to the government’s Aatmanirbhar Bharat initiative,” the company stated in the BSE filing.
“The aircraft would have an indigenous content of 62.6%, enhanced due to the indigenization of many components to be manufactured by the Indian defense industry,” the company added in the regulatory filing.
According to the most recent data, HAL has a market valuation of Rs 3.13 lakh crore and a price-to-earnings ratio of 36.73. Additionally, the business provides a 0.75 percent dividend yield. The company’s low was Rs 2,585.00, and its 52-week high was Rs 5,674.75. Over the last five days, HAL’s stock price has increased by Rs 74.35, or 1.61 percent, to Rs 4,692.00.