HAL share price: Shares of Hindustan Aeronautics Limited (HAL) might remain in focus as the stock market opens for a fresh trading session on Thursday, as the state-run defence major today announced the signing of a major deal with Safran Aircraft Engines, a subsidiary of the French aerospace group Safran.
Shares of HAL closed at Rs 4578.95, down Rs 2.30 or 0.05 per cent from the previous close of Rs 4,581.25, on the BSE.
On Wednesday, HAL and Safran Aircraft Engines signed a long-term agreement to produce and supply turbine ring forgings in superalloys for the CFM LEAP engine programme.
HAL- Safran agreement details
Under the agreement, HAL will manufacture near-net shape ring forgings for the LEAP engine at its state-of-the-art Ring Rolling facility at HAL’s Foundry & Forge Division in Bengaluru.
These superalloy ring forgings are used in elevated-temperature applications of the rotating section of the aero-engine and are critical to engine performance and reliability.
The contract was signed by Praveen B, General Manager, Foundry & Forge Division, HAL, and Dominique Dupuy, Senior Vice President – Purchasing, Safran Aircraft Engines The signing took place in the presence of Ravi K, Chairman & Managing Director, HAL, and Jayakrishnan S, CEO (Bangalore Complex), HAL, at the Farnborough International Airshow in the United Kingdom.
Speaking on the occasion, Ravi said, “HAL and Safran share a longstanding and trusted partnership that has evolved over several decades. The signing of this long-term contract reflects the growing confidence of global aerospace OEMs in HAL’s technological capabilities and manufacturing excellence.
“By contributing to the LEAP engine programme, we are expanding our footprint in the international civil aerospace market and demonstrating our ability to manufacture complex aero-engine components to global standards. This partnership with Safran represents not only a significant business opportunity but also an important step towards developing advanced manufacturing technologies and capabilities that will support future aero-engine programmes in India,” he added.
Dupuy said, “We are very enthusiastic about continuing this partnership with HAL. This cooperation is fully aligned with our strategy to develop a supply chain that is as locally integrated, as we ramp up LEAP engine production to meet growing demand.”
This multi-year contract marks a significant milestone for the partnership between HAL and Safran Aircraft Engines, HAL said in a statement.
Shares of HAL have been giving decent returns to its shareholders. The shares of the defence PSU are up 1.37 per cent in the past one week while it has surged 5.19 per cent in six months. On year-to-date basis, the HAL shares have given a return of 4.17 per cent.
In three years, it is up by 137.57 per cent and 725.71 per cent in five years.
(Disclaimer: The above article is meant for informational purposes only and should not be considered as any investment advice. ET NOW DIGITAL suggests its readers/audience to consult their financial advisors before making any money-related decisions.)
