Hindustan Aeronautics gains 10% in 2 days on deal with GE Aviation

The company said it has signed a $716 million deal with GE Aviation for procurement of 99 engines for manufacturing 83 LCA Tejas for Indian Air Force (IAF)

Shares of Hindustan Aeronautics (HAL) were up 5 per cent at Rs 1,173 on the BSE in intra-day trade on Friday, gaining 10 per cent in the past two trading days after the company said it has signed $716 million deal with GE Aviation for procurement of 99 engines for manufacturing 83 LCA Tejas for Indian Air Force (IAF).

The state-owned defence company informed the stock exchange on news item appearing in media/ publication with respect to "HAL signs $716 million deal with GE Aviation for 99 Engines for LCA Tejas".

“In the present case, since HAL has signed $716