Rs 81,784 crore order book: This multibagger aerospace & defense company signs a contract to supply helicopters to the Argentine Republic.

Shares of this company have gained more than 100 per cent in the last one year.

Hindustan Aeronautics Limited informed in the exchange filing that the company and the Ministry of Defence of The Republic of Argentina have signed a Letter of Intent (Lol) on productive cooperation and acquisition of Light and Medium Utility Helicopters for the armed forces of the Argentine Republic.

Earlier, on 7^th July 2023, the company informed that it has signed a contract with the Ministry of Defence for the procurement of two Dornier Aircraft for the Indian Coast Guard (ICG) along with an associated Engineering Support package at an overall cost of Rs 458.87 crore.

The company’s board has also approved and fixed the record date for sub-division/split of the face value of the equity shares of the company having a face value of Rs.10 (Rupees Ten only) per equity share into two equity share of face value Rs.5.00 (Rupee Five Only) per equity share. The record date for the sub-division of the equity shares is fixed on Friday, September 29.2023.

Hindustan Aeronautics (HAL) is engaged in the business of designing, development, manufacturing, repairing, overhauling, upgradation and servicing a wide range of products including, aircraft, helicopters, aero-engines, avionics, accessories, and aerospace structures.

Hindustan Aeronautics Limited has delivered multibagger returns to its shareholders. During this period, shares of Hindustan Aeronautics Limited surged from Rs 909.70 on July 24, 2020, to Rs 3854.45 on July 21, 2023, an increase of about 300 per cent in three years holding period, and investors should keep a close eye on this stock.

Disclaimer: The article is for informational purposes only and not investment advice.