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HAL receives light combat helicopter order; boosting ‘Make in India’
Industry News- Jun 26,24
The revenue from operations increased 18.36% YoY to Rs 147.88 billion during the quarter.
Hindustan Aeronautics Limited (HAL) has been awarded a major contract to manufacture 156 Light Combat Helicopters (LCH) for the Indian Army and Air Force. This significant development strengthens India's 'Make in India' initiative, promoting self-sufficiency in defence manufacturing.
The news triggered a surge in HAL's stock price, jumping over 4% for two consecutive days. The project is estimated to be worth Rs 450-500 billion, showcasing a substantial investment in domestic defense production.
This move aligns with Defense Minister Rajnath Singh's vision of achieving self-reliance in the defense sector. HAL's performance also reflects this goal, with a consolidated revenue increase of 52% in Q4 FY24 compared to the previous year.
Overall, this development signifies a positive step towards India's ‘Make in India’ goals and strengthens its domestic defense manufacturing capabilities.
(Source: ZEE Business)
HAL
Hindustan Aeronautics Ltd
Ministry of Defence
light combat helicopters
LCH
Indian Air Force
defence manufacturing
Make in India
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