HAL gets a deal of ₹ 62,370 crore from government
Hindustan Aeronautics Limited (HAL) has got a major success in the Indian defense sector. The agreement of about ₹ 62,370 crore to buy 97 Tejas MK-1A fighter aircraft with the Ministry of Defense has been finalized. This is considered to be the biggest contract of HAL so far, which is associated with the Tejas program. Due to this, there was a tremendous bounce in the company’s shares. HAL shares rose by 1.10 percent to Rs 4,776.00, while the stocks were in decline for the first few days. Experts say that in the coming time, it can get a great boom in its stock.
11,750 people will get employment
The delivery of Tejas MK-1A aircraft will start from 2027-28 and will be completed in the next six years. This aircraft will be fully prepared with its own technology of the country. It will have modern techniques like Uttam AESA radar, self -defense shield and advance control system. This deal will include more than 64% indigenous content and about 105 Indian companies will work in its construction. This project will provide employment to about 11,750 people every year and India’s aerospace sector will be stronger. Tejas MK-1A joining the Indian Air Force will increase its strength manifold and it will be helpful in giving a strong reply to enemies like China-Pakistan.
Hal in preparation to increase production
HAL has ordered GE-F404 engines from the American company General Electric (GE) for about Rs 5,375 crore. Three engines have been received so far and seven more are expected to come by the end of the year. After this, GE will supply about 20 engines every year. Under the new deal, HAL has to deal with 113 dollars with 113 and GE for the engine. Currently HAL has the ability to make 18 aircraft every year. Which is targeted to increase HAL to 24 to 30 aircraft annually. Three production lines in Bengaluru and Nashik have been completely operational, as well as many private companies are connected in the supply chain.
Investors’s trust in HAL shares increased
After the decline for the last few days, HAL shares saw a good rise today. On September 25, HAL shares were trading 2.17% to Rs 4,827.60, although a little profit booking was also closed and the stock closed at Rs 4,776. But it is believed that on Monday, this stock may again rise strongly. Brokerage company CLSA has given HAL outperform rating and has stated the target price ₹ 5,436, which is about 14% above Rs 4,767.
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