Multibagger Maharatna stock in news today on Rs 13,500-crore deal with defence ministry

Shares of Hindustan Aeronautics Ltd (HAL) are in news today after the Ministry of Defence said it has inked a contract with Hindustan Aeronautics Ltd (HAL) for the procurement of 12 Su-30MKI aircraft. HAL shares closed 0.25% higher at Rs 4722 on BSE in the previous session. Total 0.43 lakh shares of the Maharatna firm changed hands amounting to a turnover of Rs 19.98 crore. Market cap of the firm rose to Rs 3.11 lakh crore on BSE. 

HAL stock stands higher than the 5 day, 10 day, 20 day, 30 day, 50 day, 100 day and 200 day moving averages. The large cap share has gained 70.3% in a year and risen 64.88 per cent since the beginning of this year. The stock has rallied 243% in two years and risen 614% in three years. 

The stock hit a fresh 52-week high of Rs 5675 crore on July 9, 2024 and a 52-week low of Rs 2584.05 on December 21, 2023.

The deal is valued at approximately Rs 13,500 crore, includes associated equipment and is inclusive of taxes and duties. The aircraft will feature a homegrown content of 62.6%, achieved through the indigenisation of numerous components manufactured by the Indian defence industry.

Indian Air Force is procuring the Russian-origin Su-30MKI jets. These jets are now manufactured by the HAL under an intergovernmental framework.

The Su-30MKIs will be manufactured at HAL's Nashik division, "The supply of these aircraft would enhance the operational capability of the Indian Air Force and strengthen the defence preparedness of the country," the Ministry of Defence said.