HAL Shares Hit Fresh Lifetime High After Co. And L&T Emerge As Lowest Bidder For PSLVs

HAL shares in trade today has hit the roof and clocked fresh 52 week high of Rs. 1693 per share. On the previous day, the stock settled at a price of Rs. 1620.2. This is also the stock's fresh lifetime high as earlier it logged a life time low and high of Rs. 470 and Rs. 1632, respectively.

The shares in intra-day trade have gained over 4% after the reports suggests that the company in association with L&T has emerged as the lowest bidder for the launch of PSLVs.

The company in an exchange filing said, BSE Limited "we wish to inform that the Company and L&T consortium has emerged as L1 to make 5 Polar Space Launch Vehicles (PSLVs) for ISRO. Company is the lead partner
with L&T sharing the work. Other vendors too will be involved with the consortium in the manufacturing of the Launch Vehicles. However, the contract
is yet to be formalised/ awarded.It may be noted that, ISRO's commercial arm, NSIL has floated the RFP for the said work in December, 2020.

The shares of the company last at 11:25 am traded at Rs. 1677.75,higher by over 3%.