HAL slides 5% after receiving notice from International Arbitration Court

So far in 2020, HAL has slipped 7.77 per cent as compared to 6.5 per cent dip in the benchmark S&P BSE Sensex in the same period

Shares of Hindustan Aeronautics Limited (HAL) slid over 5 per cent to Rs 637.40 on the BSE on Wednesday after the state-run firm said it has received notice from International Court of Arbitration on request from RUAG Aerospace Services GMBH.

In an exchange filing yesterday, HAL said it has initiated necessary action with regards to the arbitration process. READ THE FILING HERE

"The amount in dispute partially quantified by the opposition party is $21,872,500 against alleged damages on breach of agreement regarding the supply of structural parts for the production of Dornier-228, by HAL," it said.

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