Hindustan Aeronautics Ltd (HAL) share price rallied over 7% in early trade on Tuesday after the company received fresh orders worth ₹62,700 crore from the Ministry of Defence. The PSU defence stock, HAL shares jumped as much as 7.58% to ₹4,492.80 apiece on the BSE.
The state-run defence company Hindustan Aeronautics Ltd on March 28 announced that it signed two contracts with Ministry of Defence for supply of Light Combat Helicopters to Indian Army.
“… we wish to inform that, the Ministry of Defence signed two contracts with the Company today for supply of 156 Light Combat Helicopters (LCH), Prachand to Indian Army (90 Nos) and Indian Air Force (66 Nos) along with training and other associated equipment worth around Rs. 62,700 Crore excluding taxes,” HAL said.
At 9:20 AM, HAL share price were trading 5.76% higher at ₹4,416.35 apiece on the BSE.
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