You are here: Home » News-CM » Equities » Hot Pursuit
Business Standard

HAL gains on inking MoU with Rolls-Royce for MT30 marine engine biz

Capital Market 

Hindustan Aeronautics (HAL) rose 1.67% to Rs 969.60 after the company said it signed an MoU with Rolls-Royce to establish packaging, installation, marketing and services support for Rolls-Royce MT30 marine engines in India.

Through this MoU, Rolls-Royce and HAL will expand their long-standing partnership in India and work together in the area of marine applications for the first time.

MT30 is a naval gas turbine currently in-service with naval programs worldwide in various propulsion arrangements across seven ship types.

R Madhavan, CMD, HAL said, "Rolls-Royce has been our valued partner for several decades. We now look forward to working together to explore business opportunities in marine applications. This partnership will leverage the rich experience of HAL's 'MGT Division that works on marine gas turbines with Indian shipyards. Further, we are also exploring the option of using MT7 marine engine on the hovercraft being planned by the shipyards in India."

On a consolidated basis, HAL reported 85.3% jump in net profit to Rs 853.46 crore on 21.8% rise in net sales to Rs 5,425.46 crore in Q3 FY21 over Q3 FY20.

HAL is engaged in carrying out design, development, manufacture, repair and overhaul of aircraft, helicopter, engines and related systems like avionics, instruments and accessories primarily serving Indian defence programme.

Powered by Capital Market - Live News

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

Dear Reader,


Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Wed, May 05 2021. 09:29 IST
RECOMMENDED FOR YOU
RECOMMENDED FOR YOU