Shares of Hindustan Aeronautics Ltd (HAL) jumped more than 3% today after securing a Rs 26,000 cr engine contract for IAF’s Su-30MKI fleet.
On September 02, 2024, the Cabinet Committee on Security approved the proposal for the procurement of 240 aero-engines (AL-31FP) for the Indian Air Force’s (IAF) Su-30 MKI aircraft under the Buy (Indian) category from Hindustan Aeronautics Limited (HAL) at a cost of more than Rs 26,000 crore, inclusive of taxes and duties.
The delivery of these aero-engines will start after one year and be completed over eight years.
As of 9:22 am, Hindustan Aeronautics shares were trading 3.24% higher at Rs 4,840.00 on the NSE.
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hindustan aeronautics