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.....

This article is no longer available in our repository.

There could be multiple reasons for this.