Shares of Hindustan Aeronautics Ltd (HAL) are in news today after the company said it has inked a contract with Cochin Shipyard Limited (CSL), Kochi for supply of 6 sets of LM2500 gas turbines (GT) and GT Auxiliaries (GTAE), spares, tools for Indian Navy Next Generation Missile Vessel (NGMV) Project
Hindustan Aeronautics shares ended 1.40% higher at Rs 3327.25 on Thursday against the previous close of Rs 3281.40 on BSE. Market cap of HAL climbed to Rs 2.22 lakh crore. Total 0.87 lakh shares changed hands amounting to a turnover of Rs 28.78 crore.
The large cap stock rose to a 52-week high of Rs 3428.75 on March 11, 2024 and slipped to a 52-week low of Rs 1308 on March 29, 2023.
The state-owned defence firm’s stock is trading neither in the oversold nor in the overbought zone, signals the relative strength index (RSI) of Hindustan Aeronautics which stands at 60.6. Hindustan Aeronautics shares are trading higher than the 5 day, 10 day, 20 day, 30 day, 50 day, 100 day, 150 day and 200 day moving averages.
Time period by which the order is to be executed is FY 2025-26 to FY 2028-29. The cost of the project is Rs 1173.42 crore.
Hindustan Aeronautics is 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.