Hindustan Aeronautics (HAL) jumped 4.62% to Rs 5440 after the company announced that a request for proposal (RFP) has been issued by the Ministry of Defence for procurement of 156 light combat helicopters (LCH).
Of the 156 LCH requested by the Defence Ministry, 90 are being procured for the Indian Army (IA) while the remaining 66 are for the Indian Air Force (IAF), HAL's said in an exchange filing.
As per media reports, the tender is expected to be worth over Rs 45,000 crore with helicopters to be acquired by the Indian Air Force and Indian Army.
While assuming charge as the Raksha Mantri for the second consecutive term on 13 June 2024, Rajnath Singh had said: "Under the leadership of Prime Minister Shri Narendra Modi, our aim will be to further strengthen the security apparatus of the country, with focus on achieving self-reliance in defence manufacturing.
Armed Forces modernisation and the welfare of the soldiers, both serving and retired, will continue to be our main focus.
Hindustan Aeronautics (HAL) is an aerospace and defense company, owned by the government of India. The company develops, designs, manufactures, and supplies aircraft, helicopters, avionics, and communications equipment for military and civil markets.
The companys consolidated jumped 52.19% to Rs 4308.68 crore in Q4 FY24 as compared with Rs 2831.19 crore posted in Q4 FY23. Revenue from operations increased 18.36% YoY to Rs 14,788.75 crore during the quarter.
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