HAL shares in focus after Army, Air Force versions of ALH Dhruv helicopters cleared for operations
Shares of
Hindustan Aeronautics Ltd
(
HAL
) will be in focus on Friday after the Army and Air Force variants of the
ALH Dhruv helicopters
, grounded since January, were cleared for operations.
HAL, which manufactures the Dhruv helicopters, said on Thursday that the clearance came following recommendations from a Defect Investigation (DI) Committee. 'It is now intimated that the Advanced Light Helicopter (ALH) Dhruv Army and Air Force versions are cleared for operations,' the defence PSU said in a statement.
A time-bound plan has also been drawn up with the armed forces to resume operations.
The entire fleet of 330 ALHs was grounded after an Indian Coast Guard ALH Mark-III crashed during a training sortie in Porbandar on January 5, killing all three crew members. Following the incident, HAL had also advised civilian operators to suspend operations until the cause was identified.
The ALH Dhruv is an indigenously designed, twin-engine, multi-role helicopter in the 5.5-tonne category. HAL has produced over 340 units so far.
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Earlier in April, HAL signed a Rs 62,700 crore contract with the Ministry of Defence to supply 156
Light Combat Helicopters
(LCH) Prachand to the Army and Air Force. Cleared by the Cabinet Committee on Security, it marks India's largest-ever
defence procurement
.
The Prachand is the only attack helicopter capable of operating at altitudes from 5,000 to 16,400 feet, making it suitable for high-altitude missions in areas such as Siachen and Eastern Ladakh. It can fire both air-to-air and air-to-ground missiles and is integrated with network-centric operation systems for enhanced battlefield coordination.
HAL Q3 Earnings
In the quarter ending December 2024, HAL reported a net profit of Rs 1,432.60 crore, a 14.28% increase compared to Rs 1,253.51 crore in the same period last year. The company's revenue from operations also saw a 15% rise, reaching Rs 6,956.93 crore.
HAL Shares Target Price
As per Trendlyne data, the average target price of the stock is Rs 4,891, which shows an upside of 9% from the current market prices. The consensus recommendation from 17 analysts for the stock is a 'Strong Buy'.
(
Disclaimer
: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
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