HAL shares in focus after Defence Ministry signs Rs 13,500-crore deal for 12 Su-30MKI aircraft
Hindustan Aeronautics Ltd (HAL) shares will remain in focus on Friday after the Ministry of Defence (MoD) announced a Rs 13,500-crore contract with the company to procure 12 Su-30MKI fighter aircraft. The deal, signed on Thursday, December 12, aims to bolster India's defence capabilities while promoting the ‘Aatmanirbhar Bharat’ initiative.
The deal, valued at approximately Rs 13,500 crore, includes associated equipment and is inclusive of taxes and duties. The aircraft will feature a homegrown content of 62.6%, achieved through the indigenisation of numerous components manufactured by the Indian defence industry.
The Russian-origin Su-30MKI jets are being procured for the Indian Air Force. These jets are now manufactured by the HAL under an intergovernmental framework.
The Su-30MKIs will be produced at HAL's Nashik division, «The supply of these aircraft would enhance the operational capability of the Indian Air Force and strengthen the defence preparedness of the country,» the Ministry of Defence said.
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