Defence Stock Order: The shares of Hindustan Aeronautics Limited finished at Rs. 3,043, up 1.28 per cent from its closing price of Rs. 3,004.50 the day before, giving it a market value of Rs. 2,03,508 crore.
Four defence contracts totalling Rs. 35,000 crores have received final approval from the Cabinet Committee on Security (CCS) to improve the Indian Armed Forces’ capacity for war.
Hindustan Aeronautics Limited has obtained defence orders worth Rs. 5,300 Crores for the provision of new, upgraded engines for the Indian Air Force Fleet’s MiG-29 aircraft, out of the authorised deals. With assistance from Russia, HAL will produce it.
Global Defence Expenditure: Military spending jumps 9% to £1.7trn
Defence Stock Order
The main producer of defence equipment for the Indian government in the aviation sector is Hindustan Aeronautics Limited (HAL). The business creates, develops, builds, maintains, and modernises aeroplanes, helicopters, and essential aerospace parts and accessories.
Hindustan Aeronautics Limited has an order book of Rs. 82,154 Crores as of May 2023. These orders are divided into manufacturing contracts, repair and overhaul, design and development projects, parts supply, and exports.
The Indian Air Force, Indian Navy, Indian Coast Guard, ISRO, DRDO, and several more foreign clients, including Airbus Industries, Boeing, GE Aviation, Honeywell Foreign, Rolls Royce Plc, and many more, make up its substantial customer base.
From Rs. 5,666 crore in FY22 to Rs. 6,061 crore in FY23, its operating income increased by 6.97 per cent. Concurrently, its profits increased from Rs. 1,154 crore to Rs. 1,254 crore.
