New Delhi:
A government company in the defense sector Hindustan Aeronautics (Hindustan Aeronautics Ltd) has received a tender worth around 45 thousand crore rupees from the Ministry of Defence. Under this, the Indian Army and the Indian Air Force are going to get 156 light combat helicopters i.e. light combat aircraft in the near future.
The company said that the Ministry of Defense has issued a Request for Proposal (RFP) for 156 Light Combat Helicopters (LCH). This is being considered as another major step towards becoming self-reliant in the defense sector by Make in India.
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After this news, today i.e. Tuesday, as soon as the market opened, the shares of HAL saw a huge surge. Around 10 am, the company’s shares rose more than 5% to Rs. 5,500 were being traded.
HAL shares (Hindustan Aeronautics stock price) have seen an 84% jump so far in 2024, compared to a 67% gain in the last one year. Looking ahead to the upcoming budget, we are bullish on the stock of HAL, a defense and make-in-India focused company.
The interim budget allocated about $74.8 billion for the Ministry of Defence
In the Interim Budget 2024-25 presented before the Lok Sabha elections, a total of Rs. 47,65,768 crore (about $574 billion) out of the allocation of Rs. 6,21,541 crore (about $74.8 billion) has been allocated to the Ministry of Defense alone. MoD), which represents an increase of 4.7% over the previous allocation.