Shares of this large-cap aircraft manufacturing company jumped more than 6% today
The company has recently signed a contract with Argentinian Air Force.
With the Argentinian Air Force (AAF), Hindustan Aeronautics has a contract for the supply of spare parts and engine repairs for older two-ton class helicopters. Previously, the business worked with General Atomics Aeronautical Systems Incorporated (GA-ASI) to provide MRO service for the turboprop engines that power their cutting-edge MQ-98 Guardian High Altitude Long Endurance (HALE) Remotely Piloted Aircraft System (RPAS) for the Indian market.
Share price movement of Hindustan Aeronautics Limited
Scrip opened today at Rs 2,500 and made its day high at Rs 2,648.40. The 52-week high of the stock is Rs 2,812.75, whereas the 52-week low was Rs 1,248.65. Promoters hold 75.15%, whereas institutional and non-institutional holdings are 19.86% and 4.98%, respectively. Presently, the market cap of the company is Rs 88,043 crore.
Hindustan Aeronautics Limited (HAL) is established in India. Given that the President of India, operating via the Ministry of Defense (MoD), now owns 89.97% of the company's equity shares, it is currently a government company as defined by Section 2(45) of the Companies Act, 2013.
According to the MoD Annual Report 2016-2017, Hindustan Aeronautics is the largest DPSU in terms of production value and was awarded the "Navratna" classification by the GoI in June 2007. In a Flight International report, it was the largest aerospace firm in the world in terms of sales in 2016. Five complexes—the Bangalore Complex, MiG Complex, Helicopter Complex, Accessories Complex, and Design Complex—are used to organise its activities. These complexes collectively house several manufacturing divisions and numerous research and design centres (R&D Centers) spread out throughout India. To manufacture its goods, it relies on domestic research as well as contracts for the transfer and licencing of knowledge.
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