Hindustan Aeronautics Limited (HAL) witnessed a surge of over 8% in its shares on Thursday, June 6, following the inauguration of the company’s new facilities by ISRO Chairman S. Somanath.
The newly inaugurated state-of-the-art Propellant Tank Production and Computer Numerical Centre (CNC) Machining facility at HAL’s Aerospace Division is expected to significantly enhance ISRO’s production capabilities, particularly for India’s heaviest and most powerful rocket, the Launch Vehicle Mark–3 (LVM3).
HAL stated that the new facilities would address the gap between the current capacity and ISRO’s requirements, allowing for the manufacture of enough critical components to support the production of six LVM3 rockets annually. Presently, the existing capacity permits only two LVM3 launches per year.
As of 10:25 am, HAL shares were trading 8.25% higher at ₹4,724.95 on the NSE.
