Stock Of The Day: HAL Hits New Record After Defence Ministry Tender — Key Levels
Here's all you need to know about the tender that HAL received from the Ministry of Defence.
Shares of Hindustan Aeronautics Ltd. hit a fresh record high of Rs 5,498.6 apiece on Tuesday after the Ministry of Defence issued a request for proposal, or RFP, to the company for the procurement of 156 light combat helicopters, of which 90 are for the nation’s army and 66 for the air force.
"We would like to inform that a request for proposal (RFP) has been issued by the Ministry of Defence for the procurement of 156 light combat helicopters (90 for IA and 66 for IAF)," HAL said in an exchanges filing on Tuesday.
HAL: Key Levels
Resistance: Not Applicable (At life high)
Support: Rs 4,841 (One-week low)
Other Key Highlights
The company's order book stood at Rs 94,000 crore as of March 31, with additional major orders expected during fiscal 2025. During fiscal 2024, HAL received manufacturing contracts of over Rs 19,000 crore and repair and overhaul contracts of over Rs 16,000 crore, the company said in an earlier exchange filing.
The company expects its outstanding order book position to be around Rs 1.2 lakh crore and expects almost Rs 47,000 crore worth of orders to materialize in a one-year timeframe.
Analyst Recommendation
Shares of the company gained 5.72% to hit a record high of Rs 5,497.90 apiece. It was trading 4.33% higher at Rs 5,425.75 apiece as of 10:40 a.m., compared with a 0.30% gains in the benchmark Nifty 50.
