HAL shares surge over 13.5% as govt approves acquisition of 83 Tejas Aircraft

Shares of Hindustan Aeronautics (HAL) surged over 13.5 per cent within the intraday commerce on Thursday after the federal government accepted a deal price almost Rs 48,000 crore for the acquisition of 83 Tejas Light Combat Aircraft for the Indian Air Force.
The HAL inventory climbed 13.72 per cent to Rs 1,048.00 apiece on the National Stock Exchange (NSE) earlier within the intraday commerce right this moment, whereas on BSE, it soared 13.69 per cent to Rs 1,047.00 per share.
At 2:50 pm, the scrip was buying and selling at Rs 1,009.05 per share up Rs 88.15 (9.57 per cent) on the BSE, whereas on NSE, it was buying and selling at Rs 1,007.95, up Rs 86.35 (9.37 per cent). Over 68.50 lakh shares had been traded on NSE thus far within the day whereas over 4.04 lakh shares exchanged fingers on the BSE, information from the respective inventory exchanges confirmed.
On Wednesday, the Cabinet met below the chairmanship of Prime Minister Narendra Modi and accepted procurement of 73 LCA Tejas Mk-1A fighter aircrafts and 10 LCA Tejas Mk-1 Trainer aircrafts at the price of Rs 45,696 crore together with Design and Development of Infrastructure sanctions price Rs 1,202 crore.
In a tweet, Defence Minister Rajnath Singh stated the LCA-Tejas programme would act as a catalyst for reworking the indian aerospace manufacturing ecosystem right into a vibrant Atmanirbhar-self-sustaining ecosystem.