Hindustan Aeronautics flies 2% higher on Rs 1,173.42-crore Cochin Shipyard deal

Hindustan Aeronautics Share Price | The share touched a 52-week high of Rs 4,180.00 and a 52-week low of Rs 1,767.95 on 11 September, 2023 and 26 October, 2023, respectively.

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Shares of Hindustan Aeronautics flew 2 percent higher in the opening trade on April 1 after the company signed a Rs 1,173.42-crore contract with Cochin Shipyard Limited (CSL).

At 9:32am, Hindustan Aeronautics was quoting Rs 3,404.25, up Rs 77.00, or 2.31 percent, on the BSE.

“The company has signed a contract with Cochin Shipyard Limited (CSL), Kochi for supply of 6 sets of LM2500 Gas Turbines (GT) and GT Auxiliaries (GTAE), spares, tools for Indian Navy Next Generation Missile Vessei (NGMV) project,” it said in a press release.

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On March 22, the company signed a contract with Guyana Defence Force (GDF), Government of Guyana, for the supply of two Hindustan-228 commuter aircraft along with Manufacturer Recommended List of Spares (MRLS), Ground Handling Equipment/Ground Support Equipment, Training, Hand-holding at a total value of MUSD 23.37 (approximately Rs 194 crore).

On March 15, the Ministry of Defence signed a contract with the company for Mid Life Upgrade (MLU) of 25 Dornier Aircraft along with associated equipment for the Indian Navy at a cost of around Rs 2,890 crore.

On March 13, the Ministry of Defence signed two contracts for a combined value of Rs 8,073.17 crore with the company for acquisition of 34 Advanced Light Helicopters (ALH) Dhruv Mk III along with Operational Role Equipment for Indian Army (25 ALHs) and Indian Coast Guard (09 ALHs).

The share touched a 52-week high of Rs 4,180.00 and a 52-week low of Rs 1,767.95 on 11 September, 2023 and 26 October, 2023. Currently, the stock is trading 18.56 percent below its 52-week high and 92.55 percent above its 52-week low.