 "HAL, Hindustan Aeronautics Ltd")
HAL shares climb: Shares of Hindustan Aeronautics LImited (HAL) soared as much as 8.93 per cent to hit an intraday high of Rs 4,754 per share.
The shares climbed following the inauguration by S Somanath, chairman of the Indian Space Research Organisation (ISRO), of cutting-edge Propellant Tank Production and CNC Machining facilities at HAL's Aerospace Division. These facilities are strategically designed to bolster the LVM3 programme.
The Propellant Tank Production Facility specialises in crafting high-performance fuel and oxidizer tanks, crucial elements for the LVM3 launch vehicle, boasting dimensions of 4 metres in diameter and up to 15 metres in length.
Meanwhile, the CNC Machining Facility hosts state-of-the-art Computer Numerical Control (CNC) machines adept at precise fabrication of Rings and Propellant Tank Domes for the 4.5-meter class LVM3.
“The newly established facilities will provide a major boost to ISRO's ability to meet its growing production needs, particularly for the Launch Vehicle Mark-3, India's heaviest and most powerful rocket,” HAL said in a statement.
Presently, the existing capacity permits only two LVM3 launches annually, falling short of ISRO's requirement of six launches per year. With these new facilities, HAL will bridge this gap by manufacturing critical components to support the production of six LVM3 rockets annually.
“HAL has enormous capacities and this potential should be explored in the larger interest of both the organisations. HAL will play a larger role in ISRO's future missions hence should focus on emerging technologies, designing challenges and take up end-to-end tasks to ease pressure on ISRO.” ISRO chairman said.
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HAL stressed that its continued partnership with ISRO will expedite human spaceflight missions and the advancement of Next-Generation Launch Vehicles (NGLV).
Additionally, during the inauguration ceremony, HAL handed over the first Gaganyaan Service Module and LVM3 YzU Isogrid Version Hardware to ISRO.
The market capitalisation of HAL is Rs 3,15,996 crore, according to Bombay Stock Exchange (BSE).
The 52-week high of HAL stock is Rs 5,434.90 while its 52-week low is Rs 1,730.50.
At 10:26 AM, shares of HAL were trading 8.21 per cent higher at Rs 4,722.30 per share. In comparison, BSE Sensex was trading over 1 per cent higher at 75,132.64.
