Hindustan Aeronautics Limited shares hit new 52-week high after being added in F&O; stock up 25% in 4 days

Amid its inclusion in the Future and Options category, the shares of Hindustan Aeronautical Limited (HAL), a government-owned aerospace company, have hit a fresh 52-week high and surged 8.5 per cent to Rs 1398.1 per share on the NSE intraday trade on Friday.

The NSE on August 9, 2021, had announced the inclusion of HAL along with other 10 companies’ stocks in F&O contracts effective from August 27, 2021, subject to fulfillment of eligibility criteria.

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The stocks that are included in F&O along with HAL are: Can Fin Homes, Dixon Technologies, Indian Energy Exchange (IEX), IndiaMART InterMESH, Ipca Lab, MCX, Oracle Financial Services, Polycab India and Syngene International.

HAL shares ended 7 per cent higher to Rs 1379.25 per share on the NSE, as compared to a 0.41 per cent rise in the Nifty50. The trading volumes jumped 1.5 times with a combined around 4 million equity shares changing hands on the NSE and BSE.

The stock in the last four trading sessions soared 25 per cent as HAL signed $716 million deal with GE Aviation for procurement of 99 engines for manufacturing 83 LCA Tejas for Indian Air Force (IAF).

Similarly, HAL, On February 3, 2021, had informed exchanges that the government had formally sealed the deal of around Rs 48,000 crore (inclusive of taxes and duties of around Rs 7,000 crore; infrastructure and design & development cost of around Rs 2,300 crore) for procuring 73 indigenous LCA Tejas Mk-1A fighter aircraft and 10 LCA Tejas Mk-1 trainer aircraft from the company.

Among the other individual stocks, Can Fin Homes, Polycab India, IndiaMART InterMESH, Oracle Financial Services, Syngene International, Dixon Technologies, MCX and Ipca Laboratories gained between 2 per cent and 3 per cent, as compared to a 0.36 per cent rise in Nifty50 intraday today.