Multi bagger Defense Stock, HAL gets contract from Defense Ministry to procure 12 Su-30MKI aircraft

The Shares of Hindustan Aeronautics Ltd were trading in the green on Friday as the Defence Ministry has signed a deal with the aerospace company to procure 12 Su-30MKI fighter jets for Rs 13,500 crore. The stock was up 2% to Rs 4,755 apiece on the National Stock Exchange (NSE) in the early trade.

To boost the Aatmanirbhar Bharat initiative of the government, a contract for the procurement of 12 Su-30MKI aircraft along with associated equipment has been signed between the Ministry of Defence and M/s Hindustan Aeronautics Limited (HAL) today on 12.12.2024, at an approximate cost of 13,500 Crore inclusive of taxes and duties, as per the release.

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The aircraft would have an indigenous content of 62.6%, enhanced due to the indigenization of many components to be manufactured by the Indian defense industry. These aircraft would be manufactured at the Nasik division of HAL. The supply of these aircraft would enhance the operational capability of the Indian Air Force and strengthen the defense preparedness of the country.

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