Defence Stock: 306% Return In 2 Years, Stock Jumps 5% Today, Check Share Price Performance

Defence PSU Stock: Shares of Hindustan Aeronautics Ltd (HAL) climbed by over 5 per cent today in early trading session after cabinet approved Rs 26,000 crore Worth Su-30 MKI Aircraft Procurement from the company.
The share price opened at Rs 4925 with a jump of 5.1 per cent from the previous close of Rs 4686.10. Last seen, the share price was trading at Rs 4817 on the BSE. Since the last 3 days HAL share price has risen 4.34 per cent in the period.
HAL Share Price Returns 144% In 1 Year
The shares of HAL have given a multibagger return of over 144 per cent in one year and over 306 per cent in two years. In the current year the share price has already gained over 70 per cent.
Which Order To HAL Led Rally In Share Price
The Cabinet Committee on Security (CCS) has approved the procurement of 240 aero-engines (AL-31FP) for the Su-30MKI aircraft of the Indian Air Force from the company. According to an exchange filing, the deal falls under the Buy (Indian) category and is valued at over Rs 26,000 crore. 
“Cabinet Committee on Security, on September 02, 2024, approved the proposal for procurement of 240 aero-engines (AL-31FP) for Su-30 MKI aircraft of
the Indian Air Force (IAF) under Buy (Indian) category from Hindustan Aeronautics Limited (HAL) at a cost of over Rs 26,000 crore inclusive of all taxes and duties,” the company said in an exchange filing.
The first delivery of these aero-engines will actually be made after one year and overall order will be completed over a period of eight years.
The engines will have an indigenous content of over 54 per cent, enhanced due to the indigenisation of some key aero-engine components. These would be manufactured at HAL’s Koraput division.
Su-30 MKI is one of the most powerful and strategically significant fleets of IAF. The supply of these aero-engines by HAL would meet the fleet sustenance requirement of IAF to continue their unhindered operations and strengthen the defence preparedness of the country.
(Disclaimer: The information provided in this article is for informational purposes only and should not be construed as investment advice. Readers are encouraged to consult with a qualified financial advisor before making any investment decisions.)