HAL shares rise 2% as firm hands over 3 aerospace platforms to IAF. What is Goldman Sachs saying?
Hindustan Aeronautics Ltd (HAL) shares rose on Monday after the company handed over three indigenously developed platforms to the IAF and Pawan Hans. The deliveries included the Dhruv-NG helicopter, LCA Tejas Trainer jets and HTT-40 basic trainer aircraft.
Shares of Hindustan Aeronautics Ltd (HAL) rose 2% to 4,889 rupees on the BSE on Monday, following the company's handover of three indigenous aerospace platforms to the Indian Air Force (IAF) and Pawan Hans Limited. Defence Minister Rajnath Singh highlighted the three significant achievements: the Type Certification of the Dhruv-NG civil helicopter, the delivery of the final batch of LCA Tejas Trainer jets to the IAF, and the first HTT-40 Basic Trainer aircraft to the IAF.
The HTT-40 is a tandem-seat, fully aerobatic trainer powered by a Honeywell turboprop engine, with HAL producing 70 aircraft under a contract for the IAF. The LCA Trainer is a twin-seat version of the Tejas fighter jet used for advanced combat flight training. The Dhruv-NG is a next-generation civil version of HAL's Advanced Light Helicopter, designed for offshore and passenger operations.
Goldman Sachs maintains a Buy rating on HAL with a target price of 5,870 rupees, noting that deliveries of fighter, trainer, and helicopter platforms are increasing, with supply constraints easing and a focus on converting HAL's large order backlog into revenues.
Written by urgent.news from The Economic Times - Top News's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
