BUZZ-India's Hindustan Aeronautics rises as pact with GE may quicken production
Reuters
Nov 10
BUZZ-India's Hindustan Aeronautics rises as pact with GE may quicken production
** Shares of state warplane maker Hindustan Aeronautics Ltd HIAE.NS rise 2% to 4723 rupees
** Co signs agreement to buy 113 engines from General Electric GE.N
** Co's delivery of Tejas fighter jets to Indian government was delayed due to slow engine deliveries by GE
** In September, HIAE signed an agreement with government for additional 97 home-grown fighters of the Tejas Mk-1A variety worth 623.70 billion rupees ($7.1 billion)
** HIAE rated "buy" on avg by 20 analysts covering it; median PT at 5,800 rupees- data compiled by LSEG
** YTD, HIAE up 13%
($1 = 87.8950 Indian rupees)
(Reporting by Komal Salecha)
((Komal@thomsonreuters.com;))
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