Shares of Hindustan Aeronautics Ltd (HAL) surged nearly 4% after bagging order worth ₹1,173.42 crore from Cochin Shipyard
HAL has signed a contract with Cochin Shipyard Limited, Kochi, for the supply of 6 sets of LM2500 gas turbines (GT), GT Auxiliaries (GTAE), spares, and tools for the Indian Navy’s Next Generation Missile Vessel (NGMV) Project. The time period for executing the order is from FY 2025-26 to FY 2028-29. The cost of the project is ₹1,173.42 crore.
Hindustan Aeronautics is a large cap stock, and the business is engaged in the design, development, manufacture, repair, overhaul, upgrade, and servicing of a wide range of products, including aircraft, helicopters, aero-engines, avionics, accessories, and aerospace structures.
As of 9:50 am, the shares were trading 3.67% higher at ₹3,449.00 on the NSE. The company rose to a 52-week high of ₹3,428.75 on March 11, 2024, and slipped to a 52-week low of ₹1,308 on March 29, 2023.
In the third quarter of the fiscal year 2024 (Q3 FY24), the company witnessed a notable growth in its financial performance compared to the corresponding quarter of the previous fiscal year (Q3 FY23). Its consolidated net profit grew by 9.2% to reach ₹1,261.51 crore, backed by a 6.98% increase in revenue from operations, which stood at ₹6,061.28 crore during the same period.
