Shares of Hindustan Aeronautics Ltd soared 3.5 per cent after the Cabinet Committee on Security (CCS) approved the purchase of 97 LCA Mark 1A fighter jets worth ₹62,000 crore from the defence major.
The CCS on Tuesday cleared two major defence projects for the purchase of 97 LCA Mk1A fighter jets at a cost of ₹62,000 crore and six airborne early-warning and control (AEW&C) aircrafts worth ₹10,990 crore, paving the way for HAL to produce the aircraft.
Brokerage UBS has maintained neutral rating on the stock at a target price of 4,900 following the development. UBS noted that this will be the second MK1A order after 2021.
The stock traded 1.44 per cent positive on the BSE at ₹4,517 at 11.09 am after hitting a high of ₹4611.60 against the previous close of ₹4452.85.
Published on August 20, 2025