HAL stock flies on Boeing plan to make F/A-18 in India

The US aerospace major said the partnership will also work for joint development of future technologies in India.

By ETMarkets.com | Updated: Apr 13, 2018, 04.02 PM IST

Hindustan Aeronautics (HAL) surged over 4 per cent on Friday afternoon as Boeing announced a partnership with HAL and Mahindra Defence Systems

Hindustan Aeronautics (HAL) surged over 3 per cent on Friday as Boeing announced a partnership with HAL and Mahindra Defence Systems (MDS) to manufacture the F/A-18 Super Hornet in India.

The scrip rose over 4 per cent in intraday trade before closing the session 3.28 per cent higher at 1122.45 on BSE.

The PSU opened at Rs 1,115 and hit high and low of Rs 1,149 and Rs 1,109.80, respectively during the day.

The US aerospace major said the partnership will also work for joint development of future technologies in India, saying it will transform India's aerospace and defence ecosystem, a PTI report said.

The Super Hornet 'Make in India' proposal is to build an entirely new and state-of-the-art production facility that can be utilised for other programme like India's Advanced Medium Combat Aircraft (AMCA) programme.

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