Hindustan Aeronautics has achieved a new all-time high. What’s driving the stock?

On BSE at around 3.08 pm, Hal trading on shares above 1678.65 each 57.15 or 3.53%. Earlier today, HAL shares hit a new 52-week high of Rs. 1693.20 each.

With new all-time highs, HAL shares have gained over 77% in one year. shares stood nearby 954.4 Apple on April 12 last year.

The bullish tone in HAL shares comes after the company along with infrastructure giant, Larsen & Toubro emerged as the L1 bidder to build 5 Polar Space Launch Vehicles (PSLVs) for the Indian Space Research Organization (ISRO). .

Contrary to the optimism in HAL shares, L&T shares were trading on a bearish note. L&T shares traded on BSE below 1782.75 After touching the intraday high and low of 48.95 or 2.67% 1830 each and 1780.00 each respectively.

HAL has informed the stock exchanges about the development.

As per the notification, HAL 5 will be the major partner with L&T sharing the work for PSLV. Also, the consortium will involve other vendors in manufacturing the launch vehicles.

However, HAL also said, “The contract is yet to be formalized / awarded.”

Notably, NSIL, the commercial arm of ISRO, has floated RFP for the said work in December 2020.

NewSpace India Limited (NSIL) is the nodal agency for PSLV production through Indian Industry under the consortium route. On its website, it is mentioned that the industry consortium will be responsible for the production, assembly and integration of the launch vehicle using the existing ISRO facilities under the Goco model.

The Polar Satellite Launch Vehicle (PSLV) is India’s third generation launch vehicle. It is the first Indian launch vehicle to be equipped with a liquid stage. After its first successful launch in October 1994, PSLV emerged as India’s reliable and versatile workhorse launch vehicle.

In December 2021, the Union Minister of State (Independent Charge) of Science and Technology, Dr Jitendra Singh mentioned in the Rajya Sabha that since 1999 till date, a total of 342 foreign satellites from 34 countries have been successfully launched on the Indian Polar Satellite. Launch Vehicle (PSLV) on commercial basis.