Navratna Co Inks LoA With Argentina's Defence Ministry, Shares Rally 108% In 1-Year

Large cap Navratna Defence sector company, Hindustan Aeronautics Ltd and Argentina's Defence Ministry inked a Letter of Intent (LoA) on productive cooperation and acquisition of Light and Medium Utility Helicopters for the armed forces of Argentine Republic. HAL share witnessed a rally of 1.13% to Rs 3878.00 per share. Hindustan Aeronautics shares delivered 108% return in last 1-year. Check details below:

HAL Inks LoI with Argentinian Defence Minister: The Lol (Letter of Intent) was signed on July 20 by Jorge Taiana, Argentinian Defence Minister and C B Ananthakrishnan, CMD, HAL. According to the BSE filing of HAL dated July 20, 2023, "In terms of Regulation 30 of the SEBI (LODR) Regulations, 2015, we are enclosing herewith a copy of the media release titled "Argentinian Defence Minister Visits HAL. Lol Signed on Co-operation for Light and Medium Utility Helicopters for the Armed Forces of Argentina" being issued to the media."

HAL Stock Performance & Return: Last trading price of HAL share is Rs 3878.00 per share. Its 52-week high price is Rs3950.00 per share and 52-week low price is Rs 1822.20 per share, respectively. It has a market capitalisation of Rs 1,28,842.85 crore. HAL share surged 38% in last 3-months, gave return of 53% in last 6-months, offered 261% return in last 2-years, and rallied 321% in last 3-years.

HAL Financial Performance: The company for the quarter ended March 31, 2023 declared its consolidated total income at Rs 13,216.90 crore, up 114.47% as compared to last quarter total income of Rs 6,162.72 crore. The company in its latest quarter announced net profit after tax at Rs 2,844.64 crore.

HAL About: Hindustan Aeronautics Ltd (HAL) is an aerospace and defense company, owned by the government of India. The company develops, designs, manufactures, and supplies aircraft, helicopters, avionics, and communications equipment for military and civil markets.