Shares of Hindustan Aeronautics Ltd. rose 2% to a day’s high of Rs 4,702.45 on 30th August after the company announced that it had selected Safhal Helicopter Engines to develop and produce Aravalli engines for helicopters.

HAL and Safhal have signed a contract to jointly design, develop, manufacture, supply, and support a new high-power engine called “Aravalli” for HAL’s 13-ton Medium Lift Indian Multi-Role Helicopter (IMRH) and Deck-Based Multi-Role Helicopter (DBMRH), according to HAL’s filing.

CB Ananthakrishnan, Chairman and MD of HAL, has commented on the importance of the partnership with Safhal towards achieving technological self-sufficiency in the Indian aerospace and defence domain by enhancing the operational guarantees of IMRH and DBMRH and assisting with the local development of essential defence technologies.

Safhal is a joint venture between HAL and Safran Helicopter Engines SAS dedicated to the design, development, production, sale, and support of new-generation engines for helicopters in India, signifying an important step in augmenting “Aatmanirbharta” in helicopter engine technology for India. 

Under this strategic contract, Safhal will collaborate with its parent companies on advanced engine technologies, ensuring top performance, reliability, and operational efficiency, using state-of-the-art design, manufacturing, and testing processes to meet global standards.

HAL’s market capitalisation rose to Rs 312,983 crore. 

At 3:30 PM, the shares of HAL closed 1.87% higher at Rs 4,687.95 on NSE.

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