HAL shares were in focus on Tuesday following reports of a major development in India’s defence sector. According to a Moneycontrol report, a high-level committee has recommended the urgent induction of fighter jets, mid-air refuelling systems, and AEW&C systems to enhance the Indian Air Force’s (IAF) operational capabilities.
As per a report by Hindustan Times, the government is in the final stages of approving a massive ₹67,000-crore deal with Hindustan Aeronautics Limited (HAL) for the procurement of 97 Light Combat Aircraft (LCA) Tejas Mk-1As.
The move comes as the IAF faces a serious shortfall in its fighter jet fleet, currently operating only 30 squadrons against the sanctioned strength of 42.5. The recommendations were submitted by a panel led by Defence Secretary Rajesh Kumar Singh earlier this year.
HAL shares traded in a narrow range today. The stock opened at ₹4,775.00 and, at the time of writing, touched a high of ₹4,808.00 before slipping to a low of ₹4,751.00 during the session. HAL’s 52-week high stands at ₹5,165.00, while the 52-week low is ₹3,046.05.
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