HAL signs MoU at DefExpo 2020

Hindustan Aeronautical Limited (HAL) announced on Wednesday that it had signed a Memorandum of Understanding (MoU) with Israel Aerospace Industries Limited (IAI) and Dynamatic Technologies Limited (DTL), for the marketing, manufacturing and selling of IAI's Unmanned Aerial Vehicles (UAVs) to Indian Defence customers such as the Indian Defence Force (IDF), Paramilitary Forces and Central Armed Forces.

Through this collaboration, HAL will be able to expand its product offering to defence customers and absorb critical technologies to strengthen the aerospace ecosystem of the country.

In the coming years, Indian Defence Forces are likely to induct a large number of UAVs to meet its requirements and this development puts HAL in a prime position to benefit as it already maintains the best infrastructure to manufacture the UAVs of IAI.

Hindustan Aeronautics Limited is an aerospace and defence company that designs and develops a range of aircraft including fighter aircraft, trainer aircraft, transport aircraft, military helicopters and civil helicopters.

At 3 pm on Wednesday, the stock was trading at Rs 810, up by 3.35 per cent or Rs 26.25 per share. The 52-week high is recorded at Rs 896.35 and the 52-week low is Rs 603.25 on BSE.