This week’s stock market activities are expected to be inclined or influenced by the civil aviation industry. State-run Airports Authority of India (AAI) has announced that it will set up a Civil Aviation Research Organisation (CARO) aimed at “finding indigenous solutions” to meet the challenges posed by the growing air traffic.
With this move, it is likely to see a lot of civil aviation and logistics companies to drive a pull from stock market investors.
According to AAI, CARO will be set up at Begumpet Airport, Hyderabad.
“Widening its Research & Development (R&D) horizon, this facility, spread across a sprawling area of 27 acres will cater to ANS (Air Navigation Services) and airport or engineering research,” AAI said in a statement.
“AAI has earmarked a whopping budget outlay of Rs 1,200 crore for a period of 12 years for R&D.”