The share price of Hindustan Aeronautics opened about 4% higher at ₹2,839.9 as compared to previous close of ₹2,723.9. The stock hit a high of ₹2,847 and then around the ₹2,830-levels. The up move was fuelled by the government’s approval for proposals worth ₹70,500 crore for the Armed Forces & Indian Coast Guard.
The Defence Acquisition Council (DAC) headed by Defence Minister Rajnath Singh approved the capital acquisition of indigenously-developed military hardware worth ₹70,584 crore as part of a mega procurement plan that is expected to significantly boost domestic defence manufacturing.
