India's Hindustan Aeronautics rises on govt nod for $3.1 bln engine order

Bharat Dynamics

03/09/2024 04:51

** Shares of Hindustan Aeronautics Ltd  HIAE.NS  up 3.1% at
4,832.35 rupees
    ** India govt's cabinet committee on Monday approved the
purchase of 240 aircraft engines from HIAE in a deal worth 260
billion rupees ($3.10 billion)
    ** Analysts tracking defence equipment maker rate it "buy"
on avg, same as peers Bharat Dynamics  BARA.NS  and Bharat
Electronics  BAJE.NS   - LSEG data
    ** HIAE's 72% YTD jump leads gains among defence peers



($1 = 83.9450 Indian rupees)

 (Reporting by Nandan Mandayam in Bengaluru)
 ((Nandan.Mandayam@thomsonreuters.com; Mobile: +91 9591011727;))