On July 10, 2023, Hindustan Aeronautics Limited (HAL) shares plunged in the early trade after the company caught a Rs 458.87-crore contract from the Indian defence ministry.

Hindustan Aeronautics has signed a contract for supplying two Dornier-228 aircraft to the Indian Coast Guard (ICG) with a connected engineering support package at Rs 458.87 crore. The aircraft will be obtained under the buy (Indian) category.

The Dornier aircraft are being solely manufactured at HAL (transport aircraft division), Kanpur and will meaningfully contribute to accomplishing Aatmanirbharta in defence under the ‘Make in India’ Government initiative.

The firm’s board in June accepted a final dividend of Rs 15 per share of Rs 10 each for the financial year 2022-23, which is to be paid to the shareholders within 30 days from the approval date.

The board also agreed on a stock split of 1 equity share of face value of Rs 10 into 2 equity shares of Rs 5 each.
The record date for the shares sub-division is September 29, 2023, if approved by the shareholders at AGM.
At 9:25 am, HAL traded Rs 3,763.20, up Rs 4.25, or 0.115 on the BSE.

The share moved a 52-week high of Rs 3,950 on June 19, 2023, and a 52-week low of Rs 1,718 on July 15, 2022. It is trading 4.73% below its 52-week low.