HAL Shares Surge on ₹62,000-Cr Defense Deal Approval
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BTCCSquare news:
Hindustan Aeronautics Ltd (HAL) shares climbed 3.5% following the Cabinet Committee on Security's approval of a ₹62,000-crore purchase for 97 LCA Mark 1A fighter jets. The deal, alongside a ₹10,990-crore project for six AEW&C aircraft, solidifies HAL's position as a key defense contractor.
UBS maintained a neutral rating on HAL with a 4,900 target price, noting this marks the second MK1A order since 2021. The stock traded at ₹4,517 on BSE, peaking at ₹4,611.60 during the session.
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