Shares of Hindustan Aeronautics (HAL) surged over 13.5 per cent in the intraday trade on Thursday after the government approved a deal worth nearly Rs 48,000 crore for the acquisition of 83 Tejas Light Combat Aircraft for the Indian Air Force.
The HAL stock climbed 13.72 per cent to Rs 1,048.00 apiece on the National Stock Exchange (NSE) earlier in the intraday trade today, while on BSE, it soared 13.69 per cent to Rs 1,047.00 per share.
The scrip eventually settled at Rs 1,009.00 per share up Rs 88.10 (9.57 per cent) on the BSE, while on NSE, it ended at Rs 1,008.95, up Rs 87.35 (9.48 per cent). Over 75.42 lakh (75,42,690) shares were traded on NSE during the day while over 4.37 lakh (4,37,351) shares exchanged hands on the BSE, data from the respective stock exchanges showed.
On Wednesday, the Cabinet met under the chairmanship of Prime Minister Narendra Modi and approved procurement of 73 LCA Tejas Mk-1A fighter aircrafts and 10 LCA Tejas Mk-1 Trainer aircrafts at the cost of Rs 45,696 crore along with Design and Development of Infrastructure sanctions worth Rs 1,202 crore.
In a tweet, Defence Minister Rajnath Singh said the LCA-Tejas programme would act as a catalyst for transforming the indian aerospace manufacturing ecosystem into a vibrant Atmanirbhar-self-sustaining ecosystem.
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