Stimulus impact: HAL, BEL, other defence-linked stocks rally up to 5%
NEW DELHI: Shares of Hindustan Aeronautics (HAL) and other defence-linked companies rallied up to 10 per cent in Monday’s trade after the government announced plans to push its Make in India initiative.
By 9.53 am, shares of Hindustan Aeronautics traded 5.35 per cent higher at Rs 551.50. HAL is the maker of Tejas LCA (light combat aircraft). Shares of Bharat Dynamics advanced 3.09 per cent to Rs 247 and Bharat Electronics (BEL) added 2 per cent to Rs 69.10. BEL is the maker of Akash Missile System.
State-run BEML also added 2.14 per cent to Rs 611. BEML is the maker of Tatra-based high mobility trucks for defence use.
