![HAL shares up 3% on bagging fresh order from defence ministry](https://images.assettype.com/fortuneindia%2F2024-03%2F1141982a-986f-421b-aa4f-9e97dc2b6a0b%2FTEjas_LCA.jpg?w=300&q=95)
HAL shares up 3% on bagging fresh order from defence ministry
The PSU has signed a deal worth ₹2,890 crore with the defence ministry for mid life upgrade of Indian Navy’s 25 Domier aircraft.
The PSU has signed a deal worth ₹2,890 crore with the defence ministry for mid life upgrade of Indian Navy’s 25 Domier aircraft.
The share price surged 4% intraday after the government approved a plan to acquire 12 additional Sukhoi Su-30MKI fighters to be built at HAL’s Nashik factory.
The government, which owns 89.97% stake in HAL, will sell 3.5% equity shares in the aerospace company at a floor price of ₹2,450 apiece.
The floor price for the OFS has been fixed at ₹2,450 per share, a discount of 6.7% to Wednesday’s closing price.