HAL inks SSLV tech transfer pact with ISRO, Indian National Space, NSIL, shares rise 2%

Hindustan Aeronautics Ltd shares rose 2% on September 10 after the company said it has signed small satellite launch vehicle technology transfer agreement with the Indian National Space Promotion and Authorisation Centre, NewSpace India Ltd., and Indian Space Research Organisation. The small satellite launch vehicle is a three-stage vehicle designed to launch satellites weighing less than 500 kilograms into lower earth orbit, the company said in an exchange filing.

Under this contract, Hindustan Aeronautics will absorb the technology in the first two years, followed by a 10-year production phase. The agreement grants the company a non-exclusive, non-transferable licence to the small satellite launch vehicle technology, which includes comprehensive design, manufacturing, quality control, integration, launch operations, and post-flight analysis documentation, as well as training and support. The company will be responsible for the mass production of small satellite launch vehicle to meet Indian and global demands, the company said.

At 1:30 pm on September 30, HAL shares were trading 2% higher at Rs 4,541 apiece. The 52-week high of the stock is Rs 5,165 and 52-week low is Rs 3,046.

DK Sunil, CMD, HAL, said, "HAL will work closely with IN-SPACe, ISRO, and NSIL to absorb, indigenise, and commercialise the SSLV technology, ensuring the highest standards of quality and reliability in small satellite launch services. HAL recognises the strategic importance of SSL V in meeting the growing demand for launching small satellites for applications in communication, earth observation, navigation, and more. HAL's efforts will not only ensure indigenous manufacturing of SSL V s but also create new opportunities for Indian MSMEs, start -ups, and the wider industrial ecosystem."