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What will be the impact on HAL's stock price by end of 2024 following the ₹26,000 crore contract announcement?
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Indian Ministry of Defence•Defence Min•Hindustan Aeronautics Limited•HAL•Indian Air Force•Koraput Division•Cabinet Committee on Security•India•Aatmanirbharta
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Indian Defence Min Signs ₹26,000 Crore Contract with HAL for 240 AL-31FP Engines
Sep 9, 2024, 09:07 AM
The Indian Ministry of Defence (Defence Min) has signed a significant contract with Hindustan Aeronautics Limited (HAL) for the procurement of 240 AL-31FP aero engines for the Su-30MKI aircraft. The contract, valued at over ₹26,000 crore, aims to enhance the capabilities of the Indian Air Force. These aero engines will be manufactured by HAL's Koraput Division. This deal follows the Cabinet Committee on Security's recent approval and highlights India's ongoing efforts towards self-reliance (Aatmanirbharta) in defense manufacturing.
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