Hindustan Aeronautics rose 1.32% to Rs 1422.90 after the Cabinet Committee on Security (CCS) approved procurement of 15 Light Combat Helicopters (LCH).
The company secured order from CCS for procurement of 15 Light Combat Helicopters (LCH) Limited Series Production at an estimated cost of Rs 3,887 crore along with infrastructure sanctions worth Rs 377 crore.Out of the fifteen helicopters ordered, ten are for the Indian Air Force (IAF) while five are for the Army.
Light Combat Helicopter (LCH) Limited Series Production is an indigenously designed, developed and manufactured modern combat helicopter. Since Light Combat Helicopters are already in the import embargo list, production of the LCH will reduce import dependence for combat helicopters.
HAL is engaged in carrying out design, development, manufacture, repair and overhaul of aircraft, helicopter, engines and related systems like avionics, instruments and accessories primarily serving Indian defence programme. As of 31 December 2021, the Government of India held 75.15% stake in company.
The PSU company's consolidated net profit surged 9.4 % to Rs 933.38 crore on a 8.6 % increase in net sales to Rs 5891.90 crore in Q3 FY22 over Q3 FY21.
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