India's Astra Microwave jumps on HAL order win; HAL at record high

Astra Microwave Products

01/04/2024 09:51

** Astra Microwave Products  ASTM.NS  up ~5%, while
Hindustan Aeronautics Ltd (HAL)  HIAE.NS  jumps to record high
amid broad market rally
    ** Electronic components maker Astra gets 560 mln rupees
($6.7 mln) order from HAL for radar systems
    ** ASTM had surged ~10% on Thurs on another order win,
taking 2-day rally to ~15%, its biggest since July 2022
    ** Rally also lifts ASTM's trading range above its 50-day
moving avg for first time since March 7
    ** HIAE meanwhile is set to close above its 50-day avg for
6th session in a row
    ** Stock previously hit record high on March 11
    ** HIAE has jumped ~22% YTD, while ASTM is up 3.5% YTD
 
 ($1 = 83.3650 Indian rupees)

 (Reporting by Navamya Ganesh Acharya in Bengaluru)
 ((Navamya.GaneshAcharya@thomsonreuters.com; +91 8805175330 ;))