HAL hits 52-week high; Torrent Power soars 8% on back of orders

HAL Share Price, Torrent Power Share Price: Hindustan Aeronautics Limited Ltd (HAL) began the new financial year (FY 2425) on a strong note as it hit a 52-week high on BSE on Monday (April 1, 2024). The stock's strong opening came on the back of a Rs 1173.42 crore order from Cochin Shipyard.

Meanwhile, Torrent Power stock soared by eight per cent on BSE on Monday after the company got a Rs 1,825 crore order from Torrent Power Limited-Distribution Unit.

HAL stock price

The stock that closed at Rs 3,327.25 on Thursday opened at Rs 3393.80 on Monday to hit a 52-week high of Rs 3454.35, a 3.82 per cent jump from the previous close. 

The stock closed trading higher by 2.29 per cent, or Rs 76.05, at Rs 3,403.30 on Monday.

The market was closed on Friday (March 28, 2024) due to Good Friday. 

What is HAL's order?

HAL has got an order for the supply of six sets of LM2500 order(s)/Gas Turbines(GT) and GT Auxiliaries (GTAE), spares, tools for Indian Navy's next generation missile vessel (NGMV) project. 

The project is to be completed by FY 2025-26 to FY 2028-29.

The cost of the order is Rs 1,173.42 crore.  

Some facts about HAL (FY2023-24) 

Record income recorded last financial year

Record income of Rs 29,810 crore (YoY up 11%)

Excess order book

3 times FY24 earnings

Total order book of Rs 94,000 crore

(3X of FY24 revenue of 29810 crore) 

Expected to get big orders during FY24-25

Manufacturing orders worth Rs 19,000 crore received in FY24

Received repair and overhaul orders worth Rs 16,000 crore

Some big collaborations and contracts

Has a MoU with General Electric, USA, for manufacturing aero engines

Has a JV with Safran Helicopter, France (SAFHAL Helicopter Engines)

Has a Contract with Airbus

Torrent Power share price 

The power generation company's stock rose to the day's high of Rs 1,463.25, on BSE on Monday, an eight per cent jump from the previous close of Rs 1354.75.

The stock that began its journey at Rs 1398.90 on Monday closed trading trading higher by 4.97 per cent, or Rs 67.35, at Rs 1,422.10.

What is Torrent Power's order?

Torrent Power informed on March 28, 2024, that it had got an award from Torrent Power Limited-Distribution Unit for setting up of 150 MW (RE Power) Grid-Connected Wind Solar Hybrid Projects under the Greenshoe option.

Some of the conditions of the order as as follows-

Tariff - Rs 3.65 per kWh

The project cost is Rs 1,825 crore

The project shall be commissioned within 24 months from the Power Purchase Agreement (PPA).

The contract period shall be 25 years from the commissioning of the project.

The annual CUF shall not be less than 50 per cent for any of the year during the term of the PPA & rated power capacity of wind and solar shall be in ratio of 2:1.

For meeting the 50 per cent CUF requirement, the company plans to install 245 MW of wind and solar capacity against contracted capacity of 150 MW.