HAL Signs Agreement With Safran To Build Helicopter Engine SAS

Hindustan Aeronautics Ltd. (HAL) has informed the stock exchange that it has signed an agreement with Safran Helicopter Engines SAS for setting up the joint venture (JV). The HAL in JV with Safran will be involved in the design, production, certification, development, sale and support of helicopter engines.

The initial focus will be on the Indian Multi-Role Helicopter (IMRH) for the Indian Air Force and the Deck-Based Multi-Role Helicopter (DBMRH).

According to the regulatory filing by the Board of Directors of HAL, "In terms of Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we would like to inform that the Company has signed an agreement with Safran Helicopter Engines SAS for setting up the joint venture to carry out business of design, development, certification, production, sale & support of helicopter engines with one of the first opportunities identified as engine for Indian Multi Role Helicopter (IMRH) & Deck Baseq Multi Role Helicopter (DBMRH) projects."

On Friday, the stock of HAL was last traded at Rs. 3836.70 apiece on BSE, down 0.39% as compared to the previous close of Rs. 3851.90 apiece. The stock hit its 52-week high on Jun 09, 2023, at Rs 3950 apiece, while the 52-week low on Jul 15, 2022, at Rs 1718 apiece.

The stock gained 1.20% in 1 week, and 3.38% in 1 month, respectively. It gained 36.72% in 3 months and 55.76% in 6 months, respectively. It gave 121.88% multibagger return in 1 year. It gave 246.48% return in 2 years. It gave 323.92% return in 3 years and 367.12% return in 5 years.

HAL is an Aerospace & Defence sector Navratna CPSE under the Ministry of Defence, Govt. Of India. It is a large-cap PSU with a market capitalisation of Rs 1,28,294.45 Crore.