Investments of those who betted in Hindustan Aeronautics Ltd stocks have more than doubled so far in 2022.
The shares of the company rose from Rs 1,233 per share in early January to Rs 2,534 to this day, which is a rise of about 105 per cent.
In the same period, benchmark indices - Sensex and Nifty - rose just around 2 per cent on a cumulative basis.
Established in 1940, Hindustan Aeronautics Ltd is a state-owned aerospace and defence company headquartered in Bengaluru.
The shares of the company rose over 400 per cent from as low as Rs 500 during the initial days of Covid.
Meanwhile, the company is at the forefront of the indigenisation initiative of India's defence manufacturing.
In early July, Hindustan Aeronautics and France-based Safran Helicopter Engines signed an agreement to create a new joint venture intended to develop helicopter engines.
The partnership would be dedicated to the development, production, sales, and support of helicopter engines and one of its main objectives will be to meet the requirements of HAL and the Ministry of Defence's future helicopters, including the 13-ton IMRH (Indian Multi-Role Helicopter).
Later during the month, Hindustan Aeronautics signed a contract worth over USD 100 million with Honeywell for the supply and manufacture of 88 TPE331-12B engines/kits along with the maintenance and support services to power the Hindustan Trainer Aircraft (HTT-40).
Earlier in April, Hindustan Aeronautics entered into a memorandum of understanding (MoU) with Israel Aerospace Industries (IAI) to convert civil (passenger) aircraft to multi-mission tanker transport (MMTT) aircraft in India.
Coming to the company's earnings, it reported a 6 per cent rise in revenue to the tune of Rs 24,000 crore in the financial year 2021-22 as compared to Rs 22,755 crore recorded the previous fiscal.
Last financial year, it bagged a contract for the production of 15 Light Combat Helicopters (LCH), 10 for IAF and five for the Indian Army.
( With inputs from ANI )
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