In comparison to the previous closing of 2,723.9, the share price of Hindustan Aeronautics opened nearly 4% higher at 2,839.9. The stock peaked at $2,847 before circling around $2,830-levels. The government’s approval of bids totaling $71,500 crore for the Indian Coast Guard and Armed Forces fueled the upward trend.
As part of a big purchase strategy that is anticipated to considerably increase domestic defence manufacturing, the Defence Acquisition Council (DAC), led by Defence Minister Rajnath Singh, approved the capital acquisition of indigenously developed military hardware worth 70,584 crore.
Source: mint
