HAL Financial News

Indian Air Force (IAF) unveiled an official video as part of its 91st-anniversary celebrations, offering a glimpse of the astronaut designates chosen for Gaganyaan, India's maiden human spaceflight mission. The IAF's Institute of Aerospace Medicine (IAM) played a pivotal role in selecting these individuals, maintaining utmost secrecy around their identities.

ISRO's bid to get industry to produce its highly successful polar satellite launch vehicle reached a significant milestone on Friday when propellant ingredients for the solid motors were delivered to the Satish Dhawan Space Centre in Sriharikota for the inaugural flight of the industry-manufactured PSLV N1. The Department of Space, through its commercial arm NewSpace India Limited (NSIL), had in September last year placed a Rs 860 crore order with a consortium of L&T and HAL to build five PSLVs towards productionisation of the third generation launch vehicle of India.

Punjab National Bank: The lender said it has recorded a 9.7% year-on-year surge in its total deposits during the September quarter, reaching ₹13.1 trillion compared to ₹11.9 trillion in the previous year. The bank also saw a year-on-year uptick in its current account savings account which grew 2.6%. Marico: The consumer goods manufacturer said it saw a slight dip in second-quarter revenue due to rising food prices and below normal rainfall affecting rural demand.

Click here! Minister of State Defence Ajay Bhatt, who was the chief guest during the function, said, "Today is a historic day. I am very proud to be in HAL and to witness all agreements done here.

Hindustan Aeronautics (HAL) with its long-term business outlook and strong execution capabilities is well on track to report 11% earnings CAGR over FY23-26E. “Given the multi-year double-digit earnings growth potential and robust return ratio profile of +20%, we believe that the stock is attractively valued," it said. The brokerage has a ‘Buy’ rating on the stock with a target price of ₹2,590 per share, implying an upside of over 37% from Wednesday's low price.

Mint is now on WhatsApp Channels Subscribe today by clicking the link and stay updated with the latest financial insights! Click here! The unveiling wasn’t merely ceremonial. The event involved the presentation of the Release to Service (RSD) and the Signalling Out Certificate (SOC). These formalities were witnessed by luminaries from the defence sector, including the Chief of Air staff- IAF, the Chairman and Managing Director of HAL, and the Chief Executive of the Centre for Military Airworthiness and Certification (CE-CEMILAC), to name a few.

Su 30MKI fighter jet fleet is set to be upgraded under a plan that will include completely new avionics, radars and electronic warfare suites. Close to 100 of the fighters are to be upgraded in the first tranche that will be conducted entirely in India. Sources said the upgrade plan is valued in excess of Rs 60,000 crore and will touch all aspects of the fighter jet except for its airframe and engines.

Make in India' in the defence sector, the Indian Air Force is going to place orders for 156 more Prachand Light Combat Helicopters, with HAL, which would be deployed at both the China and Pakistan front by the IAF and the Indian Army. The two services have already inducted 15 of these choppers in their fleet in the last 15 months after holding trials in the most extreme weather conditions and terrain in the world. «The Indian Air Force as the lead service has moved a proposal to the government for buying 156 more Prachand choppers as a joint acquisition case which is likely to get approved soon,» senior defence officials told ANI. Recently, Indian Air Force chief Air Chief Marshal VR Chaudhari had announced from foreign soil about the force's intent to buy around 100 more Light Combat Aircraft Mark 1A to push indigenisation. The combined total of the two projects in terms of worth is over Rs 1.5 lakh crore. Of the 156 choppers, 66 would be inducted by the Indian Air Force while the rest 90 would be acquired by the Indian Army. Meeting the Indian Air Force requirement of being a completely Indian Designed, developed and manufactured weapon system, the Prachand has been extensively test-flown by Hindustan Aeronautics Ltd (HAL). The attack helicopter has been built as per the requirements of the Indian armed forces to operate both in desert terrains and high-altitude sectors. Prachand is the world's only attack helicopter that can land and take off at an altitude of 5,000 metres (16,400 ft), which makes it ideal to operate in the high-altitude areas of the Siachen glacier and Eastern Ladakh. It is also capable of firing a range of air-to-ground and air-to-air missiles and can destroy air defence operations of the

RJD MP Manoj Jha during the debate on the women's reservation bill in the Rajya Sabha has ignited a political controversy in Bihar. As per a TOI report, the poem, referring to 'Thakurs', has stirred heated debates and raised concerns about the use of caste-related references in public discourse. During his speech, Jha recited a poem composed by Om Prakash Valmiki, and among its verses were the lines: "Chulha mitti ka, mitti talaab ki, talaab Thakur ka...bael Thakur ka, hal Thakur ka, hal ki mooth par hatheli apni, fasal Thakur ka..." This recitation has led to accusations from some local politicians, including Grand Alliance leader and former MP Anand Mohan, who declared that he would not tolerate the perceived humiliation of his community, the Rajputs.

Dividend Stocks: Shares of companies including Bajaj Holdings & Investments, Semac Consultants, among few others will trade ex-dividend in the coming week, starting from Monday, September 25. The ex-dividend date is the day on which the equity share price adjusts to reflect the next dividend payout. It is the day the stock becomes ex-dividend, which means it does not carry the value of its next dividend payment from that day forward.

Sensex ending a 11-session winning streak, as investors remained cautious ahead of the US Federal Reserve's interest rate decision Stocks that were in focus included names like HAL, which rose 0.99%, Indian Overseas Bank, which gained 14.30%, and Raymond, whose shares declined 4.94% on Monday. Here's what Avdhut Bagkar, Derivatives & Technical Research at StoxBox, recommends investors should do with these stocks when the market resumes trading today.HAL — BuyShares of Hindustan Aeronautics are robustly trading near the all-time high of Rs 4.170, without any noteworthy signs of weakness. The support of a 50-Simple Moving Average (SMA) placed at Rs 3,877 continues to board the bulls, with sustainability over Rs 4,200 could result in fresh upward rallies. A breakout over Rs 4,200 would see the price action heading towards Rs 4,500 to Rs 4,700 levels.

Varun Saboo, Head, Equities, Anand Rathi Shares, says: “we are very positive right now on autos and particularly not only autos, but the discretionary space overall. If you see, there is a rising trend and everyone is trying to upgrade. I have personally met most of the auto companies recently in the last couple of weeks. What I am gathering is that there is a big surge in terms of what people are wanting in terms of premiumisation. My biggest bet right now is two-wheelers, very positive on all three, Bajaj Auto, TVS and Hero MotoCorp. These three are the top ideas there, which I would like. ”Which are your favourite defence stocks and what are the house views on defence as a pack?I do not, as such, have official coverage of defence names. But yes, if one has to ask my opinion, I think the better names would be HAL, Hindustan Aeronautics or BEL for that matter.

L&T: The engineering and infrastructure conglomerate Larsen & Turbo (L&T) has declared a buyback of shares that will open on 18th September 2023 i.e. on Monday next week. This Larsen & Turbo buyback of shares will remain open till 25 September 2023.

defence ministry has cleared acquisition of 12 Su30MKI fighter jets for the Indian Air Force, in the biggest deal for Russian-origin equipment for the armed forces since the Russian invasion of Ukraine. The fighter jets will be made by Hindustan Aeronautics Limited and the deal for aircraft and associated equipment is likely to be around Rs 11,000 crore. This will include budget for modernisation of the larger fleet as well.

₹45,000 crore, including ones to acquire 12 Su-30 MKI fighter jets, maufactured by Hindustan Aeronautics Limited (HAL). The ₹11,000 crores project would include the aircraft and related ground systems, defence officials have said. “The aircraft would include more than 60 per cent indigenous content as per the requirement.

Aeroflex Industries, whose metal hoses are used in utilities, refineries and fire fighting equipment, is in talks to enter the aerospace sector, a top company executive said, aiming to capitalise on the country's burgeoning space program. Following the recent success of its lunar mission, India launched its first solar mission, the latest step in its efforts to increase its share of the global satellite launch market by fivefold within the next decade. «It is our aim that our products be a part of India's next space mission,» Aeroflex Managing Director Asad Daud told Reuters in an interview last week. The company is in early-stage discussions with the likes of Hindustan Aeronautics Ltd (HAL) and Bharat Heavy Electricals Ltd (BHEL) and even the Indian Space Research Organisation (ISRO), Daud said. While HAL and BHEL are existing clients, the ongoing talks are a first for specific space-related projects, he said. The move will help the company, which made a stellar debut on the stock market about two weeks back, diversify its revenue stream. Aeroflex expects its total revenue to increase by 35% in the next three to four years, with at least 5% coming from aerospace, Daud said. Its revenue has surged over 86% in the past two years, to clock in at 2.69 billion rupees ($32.5 million) in the year that ended in March. Daud also said Aeroflex aims to cut imports of coils — a key raw material that accounts for half of overall raw material costs — from China in favour of local suppliers, who can deliver much faster. Aeroflex has three Chinese suppliers that, currently, meet 70%-75% of its needs for their coils.

Investor interest seems to be insatiable in PSU stocks, be it defence, shipping or even banking. Many of the PSU defence and shipping stocks have turned out multi-baggers, be it BEL, BHEL, Coal India, HAL, NHPC, NTPC, PFC, REC, Mazagon Dock, to name a few, says Aamar Deo Singh, Head Advisory at Angel One. At current levels, fresh entry might not work in favour of proper risk-reward, so rather one should wait for correction, to look at fresh entry, he adds.Are you surprised with the start of the September series considering all the negativity of the August series? Markets are always filled with surprises but if one is on the right side of the trend, the surprises could be pleasant.

Dalal Street. Not just today, but since the last 1-2 years, both foreign and domestic investors are increasingly betting on the domestic growth story and the potential that India holds to become a global powerhouse. A reflection of this can be seen in the performance of the S&P BSE Bharat 22 index, which has more than doubled in value in 3 years. In fact, the index hit a lifetime high of 6118.08 points on Friday. At a time when the sword of a recession was hanging over developed economies such as the US and Europe, India became the fastest growing economy in the world. The euphoria drove a whopping 28% rally in the Bharat 22 index on a year-to-date basis. “India continues to be one of the fastest-growing major economies in the World for the 3rd year in a row.

Narendra Modi and US President Joe Biden will hold a bilateral meeting on Friday evening in advance of the G20 Leaders’ Summit in New Delhi on September 9 and 10. “It will be an opportunity to follow up on Prime Minister Modi’s visit to the United States and we will see meaningful progress on a number of issues like the GE jet engine issue, the MQ-9 Reapers, on 5G, 6G, on collaboration in critical and emerging technologies and progress also in the civil nuclear area as well. So we will mark all of that progress when the two of them meet tomorrow which shows the breadth of the relationship between our countries," said the US national security adviser Jake Sullivan to a gathering of journalists.

Stock market: Defense stocks have been in focus for the few years, especially after the outbreak of Russia-Ukraine war. Both domestic institutional investors (DIIs) and foreign institutional investors (FIIs) have been buying stake in defense stocks. But, during April to June 2023 quarter, FIIs have bough heavily in good number of defense stocks in first quarter of the current financial year.

Chancellor Olaf Scholz has urged Germany’s opposition and regional governments to help slash a “thicket of bureaucracy” that slows down Europe’s biggest economy, as his government grapples with poor poll ratings and a reputation for internal strife hal...