Hindustan Aeronautics surges on signing lease agreement with Alliance Air Aviation

Hindustan Aeronautics is currently trading at Rs. 1342.60, up by 6.15 points or 0.46% from its previous closing of Rs. 1336.45 on the BSE.

The scrip opened at Rs. 1348.70 and has touched a high and low of Rs. 1365.00 and Rs. 1340.00 respectively. So far 8644 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 10 has touched a 52 week high of Rs. 1485.45 on 16-Sep-2021 and a 52 week low of Rs. 660.00 on 04-Nov-2020.

Last one week high and low of the scrip stood at Rs. 1389.00 and Rs. 1326.55 respectively. The current market cap of the company is Rs. 44978.46 crore.

The promoters holding in the company stood at 75.15%, while Institutions and Non-Institutions held 21.52% and 3.33% respectively.

Hindustan Aeronautics (HAL) has signed a lease agreement with Alliance Air Aviation for the supply of two Civil Do-228 aircraft for regional operations in Arunachal Pradesh, aimed at giving a boost to India’s Regional Connectivity Scheme (RCS). The HAL Do- 228 is a versatile aircraft well-suited for operations in the North East and has the capabilities of short take-off and landing, ability to land and take-off from semi-prepared runways.

This development opens a new vista in civil aviation for HAL. The company is keen to increase its footprint in regional civil aviation by engaging more numbers of HAL Do-228 by air operators of the country.

Hindustan Aeronautics is Bengaluru based Defence Public Sector Undertakings (DPSU) Company engaged in the design, development, manufacture, repair, overhaul, upgrade and servicing of a wide range of products including, aircraft, helicopters, aero-engines, avionics, accessories and aerospace structures.

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