Shares of Hindustan Aeronautics (HAL) and Larsen & Toubro (L&T) surged up to 3 per cent on the BSE in Wednesday’s trade in an otherwise weak market after the Ministry of Defence, on Tuesday signed contracts worth of Rs 9,900 crore with these companies for procurement of 70 HTT-40 basic trainer aircraft & three cadet training ships respectively.
In comparison, the S&P BSE Sensex was down 0.21 per cent at 60,097 at 10:01 AM.
Among the individual stocks, HAL rallied 3 per cent to Rs 2,794.85 after the company has received an order for 70 HTT-40 trainer aircraft worth over Rs 6,800 crore from the defence ministry.
Shares of L&T were up 2 per cent to Rs 2,189.10 after the company bagged a contract worth Rs 3,100 crore for supply of three cadet training ships from the defence ministry. The ships will be indigenously designed, developed and constructed at L&T shipyard in Kattupalli, Chennai.
The HTT-40 is a turbo prop aircraft possessing good low speed handling qualities and provides better training effectiveness. This fully aerobatic tandem seat turbo trainer has an air-conditioned cockpit, modem avionics, hot re-fueling, running change over and zero-zero ejection seats.
Cadet training ships will cater to the training of officer cadets, including women, at sea after their basic training to meet the future requirements of the Indian Navy. The delivery of ships is scheduled to commence from 2026.
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