Thales's fully certified, field-proven, competitive rocket launchers are suitable for use on both light and combat helicopters.
Until now, public and private industries have been supplying devices, components and sub-systems for the PSLV
He said the NDA government has made no investments in the PSU and has instead "siphoned" money in terms of buyback and dividends from the PSU.
S Chandrasekhar, the general secretary of the HAL Employees Association, said the public sector aerospace and defence major returned Rs 6,393 crore to the government in two buy-backs of share for the first time in its history.
The Centre for Military Airworthiness and Certification (CEMILAC) has given the green signal to start manufacturing of Tejas Mk1 under Final Operational Clearance (FOC) configuration, he said.
The company has generated net revenue of Rs 58,651 crore between the financial year 2015-16 and September last year, as per the details.
Chaiti Narula does a 3 point analysis of the defence sector's Q2 performance, and also looks into how hardware manufacturers could perform in 2019, as a valuation rerating is long overdue.
It would be prudent to wait for one or two more quarters. Defence is a theme that will ultimately play out
Most defence companies are sitting on a huge order backlog but haven’t been able to book revenues.
"HAL is a debt free company and it has paid dividends over 4 decades. We have a buy rating with target of Rs 1450," says Sumit Bilgaiyan, Founder of Equity99.
The US aerospace major said the partnership will also work for joint development of future technologies in India, saying it will transform India's aerospace and defence ecosystem.
In a regulatory filing, the company said it expects continued "Excellent" MoU rating for the 2017-18 on meeting all the relevant parameters related to its performance.
The stock price has opened at Rs 1,159 on the National Stock Exchange while it started off trade at Rs 1,169 on the BSE, falling 4 percent.
State-owned Hindustan Aeronautics will list its equity shares on exchanges on March 28, 2018.
The issue, through which the Bengaluru-based firm aims to raise Rs 4,229 crore, received bids for 3,37,37,556 shares against the total issue size of 3,41,07,525 shares, data available with the NSE till 1945 hrs showed.
The IPO, through which the Bengaluru-based firm aims to raise Rs 4,229 crore, received bids for 1,53,96,864 shares against the total issue size of 3,41,07,525 shares, data available with the NSE showed.
Its strong order book, good return ratios, cash in the books, strategic growth initiatives and scope for higher dividend makes it a perfect candidate for the long-term investors
After the issue, promoter's shareholding will be reduced to around 90 percent of the post-offer paid-up equity share capital.
The sale is part of the government's Rs 75,000-crore divestment process, which for the first time in many years, has already crossed the target.
At price band of Rs 1,215-1,240, the company is expected to raise Rs 4,144-4,119 crore through the issue.
Sitharaman also said the government was eagerly awaiting the "Mark II" version of the Tejas and that a number of countries have shown interest in the aircraft indigenously developed by HAL.
HAL is in the process of identifying the private defence major with whom it will share the technology for the production of the twin-engine combat helicopter in India.
The government, which fully owns HAL, is seeking to sell about 36.2 million shares in the IPO, according to a company filing with the capital markets regulator.
The contracts will be executed in a period of 60 months, the company said. HAL, in a statement here, said, the contract was signed between the Ministry of Defence and HAL in New Delhi recently. Officials from the MoD, the Indian Army, the Indian Navy and HAL were present during the event.
Speaking to CNBC-TV18, Chairman and Managing Director T Suvarna Raju said the IPO has been delayed as it required some concessions as far as putting data in the public domain was concerned.