HAL gains on bagging Rs 458.87-crore defence ministry contract for 2 Dorniers

The share touched a 52-week high of Rs 3,950 on June 19, 2023 and a 52-week low of Rs 1,718 on July 15, 2022.

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Hindustan Aeronautics Limited (HAL) share price rose in the early trade on July 10 after the company bagged a Rs 458.87-crore contract from the defence ministry.

Hindustan Aeronautics has signed a contract for supplying two Dornier-228 aircraft to the Indian Coast Guard (ICG) and an associated engineering support package at a cost of Rs 458.87 crore. The aircraft will be procured under the buy (Indian) category.

The Dornier aircraft are being indigenously manufactured at HAL (transport aircraft division), Kanpur and will significantly contribute in achieving Aatmanirbharta in defence, in accordance with the ‘Make in India’ initiative of the Government.

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The company’s board in June approved a final dividend of Rs 15 per share of Rs 10 each for the financial year 2022-23 to be paid to the shareholders within 30 days from the date of approval.

The board also approved a stock split of one equity share of face value of Rs 10 each into two equity shares of Rs 5 each.

The record date for the sub-division of shares is September 29, 2023, if approved by the shareholders at AGM.

At 9.25 am, HAL was quoting at Rs 3,763.20, up Rs 4.25, or 0.11 percent on the BSE.

The share touched a 52-week high of Rs 3,950 on June 19, 2023 and a 52-week low of Rs 1,718 on July 15, 2022. The stock is trading 4.73 percent below its 52-week high and 119.05 percent above its 52-week low.