HAL GAIN AFTER NCLT DISSOLVES JOINT VENTURE WITH CYIENT

Hindustan Aeronautics shares gained after the Bengaluru bench of the National Company Law Tribunal ordered the dissolution of Infotech HAL Ltd, its dormant 50:50 joint venture with Cyient. HAL shares touched an intraday high of Rs 5,092 on the NSE, marking a rise of nearly 1.9 percent. However, the stock later pared gains amid profit booking and was trading up 0.63 percent. The NCLT order formally concludes the winding-up process of Infotech HAL, which began in March 2024. The joint venture was equally owned by HAL and Cyient, with each holding a 50 percent stake. The dissolution is unlikely to have any material impact on HAL's defence programmes or financial position, as Infotech HAL had remained dormant and was a non-performing entity. The development comes as HAL continues to attract investor attention amid the government's renewed focus on defence indigenisation and strengthening domestic manufacturing capabilities.