MoD & HAL Signs Contract For Dornier Aircraft Worth Rs 458 Crore

Hindustan Aeronautics Ltd. (HAL), on Friday, Jul 07, 2023, informed the stock exchange that it has signed a contract with Ministry of Defence (MoD) for the supply of 2 Dornier-228 Aircraft to the Indian Coast Guard (ICG) along with an associated Engineering Support package at an overall cost of Rs.458.87 Crore including taxes and duties.

Aatmanirbhar Bharat: MoD & HAL sign Rs 458 crore contract for two upgraded Dornier Aircraft for Indian Coast Guard

In a press release, HAL said, Ministry of Defence signed, in New Delhi on July 07, 2023, a contract with Hindus tan Aeronautics Limited (HAL) for procurement of two Dornier Aircraft for Indian Coast Guard (ICG) along with associated Engineering Support package at an overall cost of Rs 458.87 crore.
The aircraft will be procured under the Buy (Indian) Category. The aircraft will be fitted with a number of advanced equipment viz., Glass Cockpit, Maritime Patrol Radar, Electro Optic Infra-Red device, Mission Management System etc. The addition will further bolster the aerial surveillance capability of maritime areas of responsibilities of the ICG.

The Dornier aircraft are being indigenously manufactured at HAL (Transport Aircraft Division), Kanpur and will significantly contribute in achieving Aatmanirbharta in defence, in consonance with the 'Make in India' initiative of the Government.

Stock Movement

The shares of HAL last traded at Rs 3758.95 apiece, up 0.74% from its previous close of Rs 3731.40 apiece. The shares hit its 52 week high at Rs 3950 apiece on Jun 19, 2023, and its 52-week low at Rs 1718 apiece on Jul 15, 2023. respectively.

The shares performed well over the past 5 years, however, shares declined 0.84% in the past 1 week. The shares jumped 7.75% in the past 1 month, 35.84% in the past 3 months, and 50.39% in the past 6 months, respectively. It gave 116.46% multibagger return in the past 1 year. In the past 2 years, it gave 242.36% multibagger returns. While in the past 3 and 5 years, it gave 242.36% and 283.19% positive returns, respectively.

About - Hindustan Aeronautics Limited (HAL)

Hindustan Aeronautics Limited (HIAL) is the defence sector Navratna PSU company. The company is engaged in the business of Manufacture of Aircraft and Helicopters and Repair, Maintenance of Aircraft and Helicopters. It is a large-cap company with a market capitalisation of Rs 1,25,694.59 Crore.