Page 5 - Hal

HAL failure to anticipate EASA norms led to longer compliance checks: CAG

The Hindustan Aeronautics Limited applied for European Aviation Safety Agency (EASA) certification of Helicopter 1 in 2009 to enhance its export potential to European countries, but failed to anticipate stringent requirements of EASA which took longer time for compliance and a consequential additional fee, a CAG report has found. The Comptroller and Auditor General of India (CAG)- Union Government (Public Sector Undertakings Ministry of Defence) for the year ended March 2020 Report No 18 of 2023 was presented in Parliament on Thursday, according to an official statement. "The Hindustan Aeronautics Limited (HAL) also failed to identify technical experts to avail consultancy services for timely compliance of the stringent requirements of EASA. The expenditure of Rs 108.24 crore incurred was impaired," it said. As on March 31, 2021, there were nine main defence PSUs, six subsidiaries and two joint venture companies under the Ministry of Defence, the CAG has said in the report. On ..

Godrej Aerospace eyes share of GE 414 engine manufacturing, supply chain

Godrej Aerospace will be pitching to manufacture modules of the engine, a company official told Reuters during a plant visit

Why GE plan to make fighter jet engines in India a big deal: Details here

The announcement was timed to coincide with Indian Prime Minister Narendra Modi's landmark visit to the United States this week

HAL, Argentinian aerospace firm FAdeA to explore collaboration in MRO space

Hindustan Aeronautics Limited and Argentina's Fabrica Argentina de Aviones (FAdeA) signed an MoU towards exploring the possibilities of collaboration in the field of maintenance, repair and overhaul (MRO). The agreement will also involve meeting any offset requirements in case of probable sale of HAL-made platforms in Latin American region. The pact was inked during the ongoing Paris Air Show 2023, Bengaluru-headquartered state-run company HAL said in a statement on Wednesday. Similar to HAL, FAdeA is an Argentinian state-owned aerospace company under the administrative supervision of the South American country's Ministry of Defence involved in design, manufacture and maintenance of civil and military aircraft, it was noted.

HAL hits new high on stock split plan; zooms over 700% from March 2020 lows

The board of directors of state-owned defence company will meet on June 27 to consider a proposal of stock split of the equity shares of the company having a face value of Rs 10 each

Sensex up 123 pts, Nifty holds 18,300 ahead of CPI data; banks lend support

CLOSING BELL: Eicher Motors, M&M, IndusInd Bank, Axis Bank, HUL, Tata Motors, HDFC Bank, SBI, Hero MotoCorp, Bajaj Finance and ICICI Bank were the top gainers of the day

Hindustan Aeronautics posts first decline in profit in 10 quarters

The company also said it incurred tax expenses of 124.7 million rupees in the quarter, against a gain of 5.28 billion rupees from tax refunds a year ago

Hindustan Aeronautics hits new high; joins Rs 1-trillion market cap-club

At 10:03 am; with a market cap of Rs 1.006 trillion, HAL claimed the 52nd spot in the overall market cap ranking, the BSE data shows

Back in action: HAL's ALH Dhruv helicopters begin flying operations

This comes less than a month after the operations of the helicopters were halted by the Indian Navy following an accident off the Mumbai coast

Hindustan Aeronautics launches third assembly line of Tejas jets

HAL also proposes to remove 300 kg of dead weight distributed across the Mark I to balance the fighter evenly

Stocks to Watch: Tata Motors, ONGC, Maruti, HAL, RVNL, HG Infra, JSW Energy

Stocks to Watch: Oil related stocks like ONGC/Oil India/RIL/ refiners will be in focus as crude jumped 8 per cent following a surprise output cut by the OPEC+

With policy ammunition, defence stocks continue to yield strong returns

Most sector PSUs ended FY23 with strong order books

Guns vs Butter-4: We took giant leap with the Tejas, says Indian Air Force

In the fourth of a five-part series, the IAF assures the Standing Committee on Defence that its fighter fleet is not too diverse and each fighter has its use

HAL registers highest-ever revenue of around Rs 26,500 cr for 2022-23

Hindustan Aeronautics Limited said on Friday it has registered highest-ever revenue from operations of around Rs 26,500 crore (provisional and unaudited) for 2022-23 as against Rs 24,620 in the previous financial year, an eight per cent growth. HAL CMD, C B Ananthakrishnan said, Despite the challenges of supply chain disruptions due to geo-political situations, the Company could achieve the targeted growth in the top line. This was possible with the increased thrust on indigenisation and with the available inventory. He said the order book of the Bengaluru-headquartered company stood at around Rs 82,000 crore at the end of March 2023 after liquidation of the supplies during 2022-23. The cash flow of the company has improved substantially with payments of around Rs. 25,000 crore received from the various Defence customers during 2022-23, the statement said.

Star PSU: HAL's productivity gains, overhaul business driving growth

Productivity gains and the overhaul business are driving growth. HAL is also tapping into opportunities in civil aviation

Competition Commission clears proposed JM Baxi Ports deal with HAL

Competition Commission has cleared the proposed acquisition of certain shareholding of JM Baxi Ports and Logistics Ltd by Germany's HLAG. The acquisition would be done by HL Terminal Holding B.V., a wholly-owned subsidiary of Hapag Lloyd Aktiengesellschaft. JM Baxi Ports is a private terminal and inland transport service provider in India. In a release on Monday, Competition Commission of India (CCI) said it has given the approval for the acquisition of shareholding of JM Baxi Ports HL Terminal Holding B.V. The acquiring entity has been set up to serve as a strategic/investment holding company for the port terminal business of HLAG. HLAG is the parent company of the acquirer group, which is headquartered in Germany. It is active in the maritime sector. Separately, CCI has given its nod for the acquisition of share capital of NSPIRA Management Services Pvt Ltd by three individuals -- Puneet Kothapa, Ponguru Sindhura and Ponguru Sharani. Currently, the acquirers collectively hold

Stocks to Watch: RVNL, BEL, HAL, Campus Activewear, Vedanta, PNB, IT cos

Stocks to Watch: IT stocks may remain in focus as Accenture reported a revenue of $15.81 bn in Q2, beating its guidance of $15.2-15.75 bn. The giant also announced it will lay off 19,000 employees

Govt to exercise green shoe option for HAL OFS, likely to raise Rs 2,800 cr

The Finance Ministry on Thursday decided to exercise the green shoe option as the offer-for-sale of Hindustan Aeronautics Ltd (HAL) has received a good response, with the issue subscribed 4.5 times on day one. "Offer for Sale (OFS) of government shares in HAL got great response on day one. Issue subscribed 4.5 times of base size at a clearing price above the floor price by non-retail investors. Govt has decided to exercise the green shoe option. Retail investors get chance to bid tomorrow," DIPAM Secretary Tuhin Kanta Pandey said in a tweet. The OFS comprised of base issue size of 1.75 per cent or 58.51 lakh shares, with an option to retain over-subscription of an equal quantum. The government on Wednesday proposed to sell up to a 3.5 per cent stake in HAL at a floor price of Rs 2,450 a share, if fully subscribed, the OFS would fetch about Rs 2,800 crore to the exchequer. On the first day of OFS, shares of HAL closed 4.87 per cent down at Rs 2,497.40 each on BSE. The floor price i

Stocks to Watch: Reliance, HAL, Hero MotoCorp, Nazara Tech, L&T, Power Grid

Stocks to Watch: Hero MotoCorp on Wednesday said it will increase prices of its model range by around 2 per cent from next month

Govt proposes to sell up to 3.5% stake in Hindustan Aeronautics

The floor price for the HAL stake sale is set at 2,450 rupees apiece, at a discount of 6.7% to Wednesday's close