Hindustan Aeronautics Ltd (HAL) is cruising smooth in the skies today morning; opening less than 0.5% higher at Rs.2036, the stock soared to Rs.2078.85, up 2.5%. Its only 0.5% away from its 52-week high of Rs.2090.
The company informed the stock exchanges today morning that one of its JV with Safran Helicopter Engines SAS has been incorporated, to carry out business of design, development, certification, production, sale & support of helicopter engines with one of the first opportunities identified as engine for Indian Multi Role Helicopter (IMRH) & Deck Based Multi Role Helicopter (DBMRH) projects.
And yesterday evening, post market hours, the company said that it has signed a contract with Airbus for establishing MRO facilities for A-320 family of aircraft.
This collaboration with the largest European aircraft manufacturing company will strengthen Make-in-India mission by achieving self-reliance in the aircraft Maintenance. Repair and Overhaul (MRO) industry in India.
HAL intends to establish an integrated MRD services in India and seeks to provide the commercial airlines a one stop MRO solution.
Under the collaboration. Airbus will supply the A320 family tool package and offer specialised consulting services to HAL to establish MRD facility for A-320 family of aircraft. The partnership between HAL and Airbus will support the growing demand for MRD services in the country and expand the commercial fleet, especially the A320 family of aircraft.