In a fillip to the ‘Make in India’ initiative and strengthening self-reliance in defence manufacturing, Hindustan Aeronautics Ltd (HAL) has acquired a request for proposal (RFP) by the Ministry of Defence for procurement of 156 gentle fight helicopters (LCH).
The information led to a greater than 4.3 per cent bounce in HAL shares to Rs 5,427 in morning commerce on Tuesday.
On Monday, the HAL inventory jumped 4.62 per cent.
“We want to inform {that a} Request for Proposal (RFP) has been issued by the Ministry of Defence for the procurement of 156 Gentle Fight Helicopters (90 for the Indian Military and 66 for the Indian Air Power (IAF),” mentioned HAL in a regulatory submitting.
The tender is predicted to be price Rs 45,000-Rs 50,000 crore with helicopters to be acquired by the Indian Air Power and Indian Military.
HAL noticed its consolidated income bounce of 52.19 per cent to Rs 4308.68 crore in This autumn FY24 as in comparison with Rs 2,831.19 crore in This autumn FY23. The income from operations elevated 18.36 per cent YoY to Rs 14,788.75 crore throughout the quarter.
In the meantime, the transfer by the Ministry of Defence to obtain 156 gentle fight helicopters additional emboldens the imaginative and prescient of Defence Minister Rajnath Singh in direction of attaining self-reliance in defence manufacturing.
“Underneath the management of Prime Minister Narendra Modi, our intention will likely be to additional strengthen the safety equipment of the nation, with a concentrate on attaining self-reliance in defence manufacturing,” mentioned Minister Singh after assuming cost within the new BJP-led NDA authorities this month.
The coverage of boosting defence manufacturing as a part of the drive in direction of an ‘Aatmanirbhar Bharat’ is more and more mirrored within the rising order books of the nation’s defence gear manufacturing corporations and underlines a constructive outlook for the sector forward.
Bengaluru-based Bharat Electronics Restricted (BEL), a key participant within the nation’s defence trade, has an order e-book that stands at a strong Rs 75,934 crore.
Earlier than the brand new 156 gentle fight helicopters’ order, HAL had an order e-book of Rs 38,561 crore and is poised for an even bigger leap in know-how as India and the US are able to signal an settlement for the manufacture of superior GE engines for navy planes at HAL’s amenities.
Larsen & Toubro, one other main participant within the defence trade, has an in depth order e-book price a staggering Rs 94,000 crore.
The federal government’s plan of stepping up defence exports goals to catapult India as a significant participant within the international defence market.
