HAL Stock Gains 5% On Rs 45,000 Cr Order For Light Combat Helicopters
Out of the 156 Light Combat Helicopters, 90 are to be acquired for the Indian Army and remaining 66 are for the Indian Air Force
The stocks of Hindustan Aeronautics (HAL) soared almost 5 per cent in the Tuesday trading session after the Defence Ministry granted Rs 45,000 crore tender to procure 156 light combat helicopters.
HAL stock traded with 4.45 per cent gain at Rs 5,427 in the morning session on the National Stock Exchange (NSE).
"We would like to inform that Request for Proposal (RFP) has been issued by the Ministry of Defence for the procurement of 156 Light Combat Helicopters (90 nos. for IA and 66 nos. for IAF)," said HAL in a regulatory filing.
The tender is expected to be worth over Rs 45,000 crore with helicopters to be acquired by the Indian Air Force and Indian Army.
The company said that out of the 156 Light Combat Helicopters, 90 are to be acquired for the Indian Army (IA) and remaining 66 are for the Indian Air Force (IAF).
LCHs also known as the Prachand, is the world's only attack helicopter that can land and take off at an altitude of 5,000 metres (16,400 ft), which makes it ideal to operate in the high-altitude areas of the Siachen glacier and Eastern Ladakh.
It is also capable of firing a range of air-to-ground and air-to-air missiles and can destroy air defence operations of the enemy.
Government has been emphasising the intention to go for self-reliance in defence manufacturing through Make in India as part of Atma Nirbhar Bharat initiatives.
In April this year, the Defence Ministry issued a tender to the public sector firm Hindustan Aeronautics Limited for the purchase of made-in-India 97 LCA Mark 1A fighter jets expected to be worth over Rs 65,000 crore.
