Hindustan Aeronautics Limited has performed brilliantly in the stock market during the last one year. A piece of good news for positional investors of the company has come from the US.
This defense company has tied up with American company GE Aerospace. Together the two companies will make the engine of the fighter jet Tejas MK II. This announcement has been made during PM Narendra Modi’s first state visit to America.
GE Aerospace has been operating in India for the last 4 decades. The company is engaged in Engines, Services, Engineering, Manufacturing and Local Sourcing etc. As per this agreement, GE Aerospace will jointly produce the F414 engine in India. Prior to this agreement, GE Aerospace had said that it would make 99 engines for the Indian Air Force. It is part of the LCA Mk2 programme.
On Friday, the company’s share price closed at Rs 3,640.20 on the BSE, down 3.28 per cent. During the last one month, the company’s share prices have seen a rise of more than 21 percent. At the same time, the investors who would have placed bets in HAL a month back would have gained more than 43 percent by now.
During the last one year, the company’s share prices have seen a rise of more than 100 percent. The company’s 52 week high is Rs 3950 per share and 52 week low is Rs 1718 per share on BSE.
