Hindustan Aeronautics Shares Gain On Monday On Argentina Deal, Shares Jump Nearly 395% In Last 5 Years

New Delhi: Defense and manufacturing PSU Hindustan Aeronautics Ltd. (HAL) shares gained on Monday by over a percent after the company announced that Argentina has expressed its intent to acquire light and medium utility (LMU) helicopters produced by the defence PSU.

At 11 am, shares of HAL were trading 1.26 percent or Rs 48.55 higher at Rs 3,903.00 apiece. The shares opened at Rs Rs 3869.95 as against its previous close of Rs 3854.70

In the last five years, shares of HAL have had a successful run on the stock market, with a strong 394.72% increase in stock price.

HAL and Argentina's Ministry of Defence on Thursday signed a Letter of Intent (LoI) on productive cooperation and acquisition of Light and Medium Utility Helicopters for its armed forces.

The LoI was signed by Argentinian Defence Minister Jorge Taiana, and HAL Chairman and Managing Director C B Ananthakrishnan, the Bengaluru-headquartered PSU said in a statement.

Did you know?

In last 5 years, HAL stock price has grown almost 5 times!

Yes, 5 times!

Remember that opposition ran entire 2019 campaign saying that Modi govt destroyed HAL

LOL! — Abhishek (@AbhishBanerj) July 24, 2023

Ananthakrishnan and other senior company officers briefed the visiting dignitaries on various activities of HAL and a presentation was given on the occasion. During the day-long programme, Taiana and his team viewed the flying display of various HAL products at HAL Airport. The team also paid a visit to LCA and Helicopter Divisions and evinced keen interest in HAL products, the statement added.