Maharatna Company HAL achieved great success, technology to make SSLV from ISRO; Impact on share

Hindustan Aeronautics Limited: Hindustan Aeronautics Limited (HAL), a big company in India in India and a large -scale sector company, has won a bid of Rs 511 crore to create a small satellite launch vehicle (SSLV). With this, Hindustan Aeronautics has achieved SSLV technology transfer. The Indian National Space Promotion and Authorization Center (IN-Space) gave this information on Friday.

India’s space economy promoted

According to the CNBC report, Dr. Pawan Goenka, Chairman of IN-Space, said, this is the first time a space agency has transferred a complete launch vehicle technology to a company. HAL will now have the ability to freely launch SSLV independently, keep ownership and commercialize. Goenka described this deal as important for India’s ambitious $ 44 billion space economy. Let us know that India aims to increase its space economy of $ 8.4 billion in 2022 to $ 44 billion by 2033.

What is its purpose?

Reuters also quoted Pawan Goenka, saying in their report as saying, this SSLV will be able to take a payload up to 500 kg to the lower orbit of the Earth. Its purpose is to meet the global demand to send small satellites to low-end orbit. Prime Minister Narendra Modi Rocket technology is being transferred for the first time in his tenure.

HAL is going to benefit

With this deal, now HAL is expected to make 6-8 SSLV rockets every year. This will generate an estimated $ 6.5 million revenue on the launch of each rocket. Goenka told CNBC-TV18, HAL will benefit after the start of SSLV rocket making. After two years from now, it will be the only company to make SSLV in India.

Many more companies also involved in the race

Apart from Hindustan Aeronautics Limited, 2 other consortiums were also involved in the race to get technology from ISRO. However, after months of technology and financial evaluation, HAL finally defeated Alpha Design Technologies and India Dynamics. In the initial phase, 20 companies were involved in this bidding process. With the news, Hal’s shares were trading at Rs 4,962.90 at 2:53 pm today at Rs 4,962.90.

On June 27, there will be a board meeting of Hindustan Aeronautics Limited, in which it will be decided to divide the investors for the financial year 2024-25.

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