Hindustan Aeronautics soars 14% on $6 billion government defence deal


Shares of Indian aerospace and defence company Hindustan Aeronautics Ltd jumped nearly 14% on Thursday, a day after the government said it would buy 83 fighter aircraft from the company for over $6 billion in the biggest defence deal for a homegrown company.

Prime Minister Narendra Modi has undertaken a flagship campaign for a self-reliant India, under which his government wants companies to reduce imports, increase domestic production and play a bigger role in the global supply chain. About 500 Indian companies in the design and.....

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