HAL soars 6%, hits 52-week high as MoD okays acquisitions worth Rs 8,722 cr
Shares of Hindustan Aeronautics (HAL) rallied as much as 5.8 per cent and hit fresh 52-week high of Rs 1,078 on the BSE on Wednesday after the Ministry of Defence (MoD) on Tuesday approved the acquisition of ‘Make in India’ equipment worth Rs 8,722 crore. Of this, bulk will go towards purchasing the first fixed wing aircraft that HAL has designed and developed in decades.
At 10:35 am, the stock was trading 4.8 per cent higher at Rs 1,068 on the BSE, as against 0.48 per cent decline in the S&P BSE Sensex. So far in the month of August, the stock of HAL has zoomed 14 per cent till Tuesday, as against4 per cent rally in the benchmark Sensex.
