HAL gets LoI for 9 helicopters from Indian Coast Guard; stock rallies 7%

So far in calendar year 2022, the stock price of HAL has zoomed 123 per cent as compared to a 4.8 per cent rise in the S&P BSE Sensex

Shares of Hindustan Aeronautics jumped 7 per cent to hit an all-time high of Rs 2,697.70 on the BSE in Wednesday’s intra-day trade amid heavy volumes after the company received a letter of intent (LoI) for nine more advanced light helicopters (ALH) Mk-III from the Indian Coast Guard (ICG).

The stock of the state-owned aerospace & defense company has surpassed its previous high of Rs 2,639 touched on September 12, 2022. The trading volumes on the counter jumped four-fold with a combined 3.23 million shares changing hands on the NSE and BSE, till 01:31 pm.

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