Hindustan Aeronautics gains 8% on report of signing pact with French firm

The company has reportedly signed MoU with French aerospace engine firm Safran to extend cooperation and explore opportunities for new helicopter engines in civil and military markets

Shares of Hindustan Aeronautics moved higher by 8 per cent to Rs 1,481.35 on the BSE in Wednesday's intra-day trade on reports that the company has signed memorandum of understanding (MoU) with French aerospace engine firm Safran to extend cooperation and explore opportunities for new helicopter engines in civil and military markets.

“The Company has entered into an MOU on non-exclusive basis with Safran Helicopter Engines SAS, France for finding the feasibility of potential cooperation w.r.t. business opportunities, which does not constitute any obligation on the part of either Party to enter into any Definitive Agreement or make any