State-Owned Aerospace Giant's Shares Hit New 52-Week High in a Weak Market

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State-Owned Aerospace Giant's Shares Hit New 52-Week High in a Weak Market
Credit: © Reuters.

By Malvika Gurung

Investing.com -- Shares of the state-owned aerospace and defence company Hindustan Aeronautics (NS: HIAE ) climbed over 2% on Wednesday, hitting a fresh 52-week high at Rs 2,450 apiece, defying a weak market mood as benchmark equity indices Nifty50 and Sensex traded over 0.2% lower at the time of writing.

The aerospace company informed in an exchange filing that it assembled and tested the gas turbines of the country’s first indigenously designed and built aircraft carrier, IAC-1 Vikrant, commissioned recently as INS Vikrant by Prime Minister Narendra Modi at Kochi.

“IAC is powered by four General Electric (NYSE: GE ) LM2500 Gas Turbines supplied by HAL,” stated the company in its exchange filing.

The Govt-owned defence company carried out critical activities towards the readiness of IAC for basin trials and the team was largely involved in the integration of the power plant to the IAC.

It was onboard IAC for all sea trials in the absence of foreign OEM representatives contributing substantially to the Make-in-India concept, HAL added.

The gas turbines in the picture were assembled and tested at the company’s dedicated facility in Bangalore.

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  • Sukhvinder Chhabra @Sukhvinder Chhabra
    Tarun Bhatt state owned company means a company created by the government.
    Like 2
  • Sukhvinder Chhabra @Sukhvinder Chhabra
    Tarun Bhatt state owned company means a company created by the government.
    Like 0
  • Sukhvinder Chhabra @Sukhvinder Chhabra
    Tarun Bhatt state owned company means a company created by the government.
    Like 0
  • Tarun bhatt @Tarun bhatt
    It is not state it is country. Check the fact.
    Like 0
  • Tarun bhatt @Tarun bhatt
    It is not state it is country. Check the fact.
    Like 1

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