PTC Industries Ltd. and Hindustan Aeronautics Ltd. have signed a Memorandum of Understanding for indigenisation of various aviation-grade raw materials and components used for aircraft and helicopters.
The cooperation for indigenisation also includes spares, sub–assemblies and line-replaceable units of aircraft and helicopters being built by the accessories division of HAL, Lucknow, PTC said in an exchange filing on Thursday.
The collaboration is in support of the self-reliant India programme and for sharing the expertise and capabilities relating to the needs of the aerospace sector, according to the manufacturer of precision metal components for critical applications.
Shares of HAL closed 4.91% higher at Rs 3,096.40 apiece and PTC closed 0.35% lower at Rs 8,852 apiece on the BSE, as compared with a 1% decline in the benchmark Sensex.
Last month, PTC had signed a multi-year pact with Dassault Aviation to supply titanium cast parts for Rafale multirole fighter jets and the Falcon business jet programme.
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