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economictimes.indiatimes.com / 1 year ago
economictimes.indiatimes.com / 1 year ago
economictimes.indiatimes.com / 1 year ago
HAL shares rise 2% after revising Tejas Mk1 contract to Rs 6,542 crore amid delays
Hindustan Aeronautics Limited (HAL) shares rose by 1.7% in early trade to Rs 4,234.95 on the BSE on Friday after the company officially amended its contract with the Indian Air Force (IAF) for the delivery of Light Combat Aircraft (LCA) Tejas Mk1 Final Operational Clearance (FOC) fighter jets.
The original contract, signed on December 23, 2010, was valued at Rs 5,989.39 crore. Due to revisions in the delivery schedule, the contract’s value has now been updated to Rs 6,542.20 crore.
In a regulatory filing on Thursday, HAL confirmed, «We wish to inform you that the company has signed today an amendment to the LCA Mk1 FOC Contract dated December 23, 2010. The value of the contract has been revised from Rs 5,989.39 crore to Rs 6,542.20 crore, on account of revision in the delivery schedule.»
This adjustment comes amid growing expectations for the Tejas jets to become the backbone of the IAF’s fleet in the coming years.
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Tejas Mk1A: India's Indigenous Fighter Jet Takes Shape
The Tejas aircraft, developed domestically, is a versatile combat platform. It is primarily designed for air combat and offensive air support missions, with reconnaissance and anti-ship operations as secondary capabilities. The Tejas Mk1A, an upgraded variant, boasts state-of-the-art technologies, including an Active Electronically Scanned Array (AESA) Radar, Beyond Visual Range (BVR) missile capability, an Electronic Warfare (EW) Suite, and Air-to-Air
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