HAL & GE Aerospace Signs MOU To Produce Jet Engines In India

Hindustan Aeronautics Ltd. (HAL) on Friday, June 23, 2023, informed the exchange that HAL and GE Aerospace, USA have signed a Memorandum of Understanding (MOU) to produce GE-F414 fighter Jet engines in India for LCA Mk2 aircraft.

HAL is a defence sector Navratna CPSE. It is an aerospace and defence company, owned by the government of India. HAL is a large-cap defence sector company with a market capitalisation of Rs. 1,21,723.74 crore.

MOU Signed

According to the regulatory filing by the Board of Directors of HAL, "Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, this is to inform that the Company and GE Aerospace, USA have signed an Memorandum of Understanding (MOU) to produce GE-F414 fighter Jet engines in India for LCA Mk2 aircraft."

Stock Overview

The stock of HAL closed 3.28% down at Rs. 3640.20 apiece on BSE. The stock traded a new 52-week high value of Rs. 3950 apiece on 19th June 2023, while the 52 week low on 5th July 2022.

The stock has performed well in the past 5 years, giving positive returns. However, it gave 5.37% negative return in the past 1 week. It jumped 19.51% in the past 1 month and 45.76% in the past 3 months. It gave 105.70% multibagger return in the past 1 year.

It gave 256.52% positive return in the past 2 years, 411. 95% in 3 years and 301.37% in 5 years, respectively. The stock performed well in comparison to Sensex in the same tenure.