Hindustan Aeronautics hits new peak, up 4% on signing pact with Airbus

Shares of Hindustan Aeronautics (HAL) hit a new high of Rs 2,103.55, up 4 per cent on the BSE in Friday’s intra-day trade in an otherwise range-bound market after the state-owned defence company and Airbus signed a contract for establishing Repair and Overhaul (MRO) facilities for A-320 family of aircrafts. In comparison, the S&P BSE Sensex was down 0.17 per cent at 64,721 at 11:50 AM.

Under the collaboration, Airbus will supply the A-320 family tool package and offer specialised consulting services to HAL to establish MRO facility for A-320 family of aircrafts. The partnership between HAL and Airbus will support the growing demand for MRO services in the country and expand the commercial fleet, HAL said in an exchange filing.