India's Hindustan Aeronautics hits record high on $141 mln contract win

Cochin Shipyard

01/04/2024 06:14

** Shares of Hindustan Aeronautics  HIAE.NS  up as much 3.8%
to a record high of 3,454.25 rupees
    ** The state-run defence equipment maker signed a contract
worth 11.73 bln rupees ($140.7 mln) with Cochin Shipyard
 COCH.NS  for supply of equipment including gas turbines 
    ** Shares of Cochin Shipyard  COCH.NS  up 3.1% 
    ** HIAE rose for ninth straight quarter until March quarter
    ** Average rating of nine analysts covering HIAE is "buy,"
their median PT is 3,225 rupees - LSEG data
    ** Including session's gain, stock up 22% YTD


($1 = 83.3750 Indian rupees)

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