Hal share price: GE Aerospace has started delivery of F404-Indian engines for Tejas MK1A fighter aircraft to Hindustan Aeronautics Limited (HAL). HAL had ordered 99 engines and GE Aerospace has delivered the first engine. On this announcement of GE Aerospace, HAL shares also became rockets in the broken market today. Currently, it is at a price of Rs 4137.30 with a gain of 3.14 per cent on BSE. It had reached the price of Rs 4184.10 with a rise of 4.31 per cent in intra-day.
HAL and Ge Aerospace with 40 years old
GE Aerospace, in its statement, called the delivery of the first F404-Indian engine in a 40-year-old partnership with HAL in a 40-year-old milestone. The two have a partnership with the 80s in the last century, when GE Aerospace partnered with the Aeronautical Development Agency. In the year 2004, the F404-IN20 engine was selected for a single engine Tejas and it was considered an important milestone for both India and GE aerospace. The F404 engine family in the Military Aviation History is one of the most successful engines that have given strength to thousands of fighter aircraft in the world.
The F404-IN20 was specially designed for Tejas of India. According to the needs of the Indian Air Force, the program team of GE Aerospace and Tejas worked on it together for years. It also proved its capacity in the year 2008 when Tejas LCA succeeded in its first test flight. In 2016, GE Aerospace supplied 65 F404-IN20 engine to Tejas LCA to HAL. Since there was no other order now, the production of F404-IN20 was stopped. However, in the year 2021, HAL again ordered 99 engine for Tejas MK1A LCA, its production started again and now the first engine has also been delivered.
What is the trend of brokerage about shares?
Global brokerage firm Jefferies has rated a purchase rating at a target price of Rs 4,715 per share. Jefferies says that the delivery of engines has made confidence that the delivery of MK1A will come on the track from the first quarter of FY 2026 and there will be no hurdle in work on 97 additional MK1A aircraft.
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