Shares of Hindustan Aeronautics Limited (HAL) rallied 5% and hit a 52-week high of Rs 5,497.90 on 18 June after the company announced receiving a Request for Proposal (RFP) from the Ministry of Defence. 

In its regulatory filing, the company said, “The Ministry of Defence has issued a Request for Proposal (RFP) for procurement of 156 Light Combat Helicopters. Out of the total, 90 are for the Indian Army and 66 are for the Indian Air Force.”

The company has not yet disclosed any more details regarding the order in its exchange filing. 

An RFP is a business document that announces a project, describes it, and solicits bids from qualified contractors to complete it.

Earlier on 6 June, S. Somanath, Chairman of the Indian Space Research Organisation (ISRO) inaugurated the state-of-the-art Propellant Tank Production and CNC Machining facilities at the company’s Aerospace division. 

The newly established facility will enhance ISRO’s ability to meet growing production needs for the Launch Vehicle Mark-3, which is the country’s most powerful and heaviest rocket. 

The LVM3, commonly referred to as the Geosynchronous Satellite Launch Vehicle Mark III (GSLV Mk III), is a robust, three-stage, heavy-lift launch system engineered to deploy satellites into geostationary transfer orbit and further. This vehicle can transport payloads weighing up to 8 metric tons to low Earth orbit and 4 metric tons to geosynchronous transfer orbit.

At 11:50 am, the shares of Hindustan Aeronautics were trading 5.28% higher at Rs 5,475 on NSE.