PTC Industries Ltd and Hindustan Aeronautics Limited (HAL) accessories division in Lucknow have signed a memorandum of understanding (MoU) for cooperation for the indigenisation of various aviation grade raw materials (titanium and nickel base super alloys, special steels), components, spares, sub–assemblies & LRUs of aircraft and helicopters being built by HAL.
As per the company’s statement, the collaboration of both parties is to share the expertise and capabilities relating to the needs of the aerospace sector.
PTC Industries stock had hit a 52-week high at ₹9,533.70 today. It currently trades at ₹9,333.60, higher by 5.12 per cent as of 2.14 pm on Thursday.
Hindustan Aeronautics stock traded at ₹3,124.45 on the NSE as of 2.17 pm, higher by 5.92 per cent. The stock had also hit a 52-week high at ₹3,129 today.