HAL, L&T gain up to 3% as government inks contracts worth Rs 9,900 crore

Hindustan Aeronautics received an order for 70 HTT-40 trainer aircraft worth over Rs 6,800 crore, while L&T bagged a contract worth Rs 3,100 crore for supply of three cadet training ships.

Shares of Hindustan Aeronautics (HAL) and Larsen & Toubro (L&T) surged up to 3 per cent on the BSE in Wednesday’s trade in an otherwise weak market after the Ministry of Defence, on Tuesday signed contracts worth of Rs 9,900 crore with these companies for procurement of 70 HTT-40 basic trainer aircraft & three cadet training ships respectively.

In comparison, the S&P BSE Sensex was down 0.21 per cent at 60,097 at 10:01 AM.

Among the individual stocks, HAL rallied 3 per cent to Rs 2,794.85 after the company has received an order for 70 HTT-40 trainer aircraft