HAL hits new high

Hindustan Aeronautics Ltd (HAL) opened Rs.10 higher but soon zoomed up to hit a new 52-week high at Rs.1693.20 and is currently trading at Rs.1682 levels on the back of robust volumes.

The PSU informed today morning and it, along with L&T consortium has emerged as L1 to make 5 Polar Space Launch Vehicles (PSLVs) for ISRO.

HAL is the lead partner with L&T sharing the work. Other vendors too will be involved with the consortium in the manufacturing of the Launch Vehicles. However, the contract is yet to be formalised/ awarded.

ISRO's commercial arm, NSIL has floated the RFP for the said work in December, 2020.