HAL shares rise over 1% on receiving third GE-404 engine from US for LCA Mark-1A
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Shares of Hindustan Aeronautics Ltd (HAL) gained 1.5% to touch a day’s high of Rs 4,624.40 on the BSE on Thursday, after the state-run aerospace major confirmed progress on its LCA Tejas fighter jet engine procurement programme. According to previous ET reports, HAL has received the third GE-404 engine from the United States for the LCA Mark-1A fighter jet programme, with the fourth engine expected to arrive in India by the end of this month. In total, the company is slated to receive 12 GE-404 engines by the end of the current financial year, helping it keep production and delivery schedules on track. The development comes under India’s $716 million agreement with General Electric, signed in 2021, to procure 99 F404-IN20 engines for the indigenous fighter aircraft. Delivery schedules had been delayed due to global supply chain disruptions, including the failure of a key South Korean supplier, pushing timelines to March 2025. HAL, however...