HAL stock has gained 64 per cent in the year 2024. This multibagger stock has given 143 percent return in one year. The company’s profits have jumped by 76 per cent in the June quarter.
New Delhi. Shares of Hindustan Aeronautics Limited (HAL) saw a gain of 2 per cent today on August 16. At 2:45 pm, HAL stock was trading at Rs 4752.80 on NSE with a gain of 1.95 per cent. The stock price has gained momentum after the company’s strong June quarter results. Most analysts covering HAL have recommended buying this stock. This multibagger stock is trading near its highest level in the last 52 weeks and has gained 68 per cent since the beginning of this year. In the last one year, it has given 143 per cent return to investors.
Analysts believe that HAL has a strong order book and the company’s margins are expected to improve in the coming times. Brokerages like Jefferies believe that HAL will achieve double-digit growth rates in the next few years. UBS estimates that the company may get new orders worth more than Rs 1 lakh crore in the next few years. The rise in HAL shares shows that investors are confident about the company’s future. Strong order book, rising margins and government support are positive signs for the company.
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13 analysts gave buy rating
According to a report by Moneycontrol, 13 out of 16 analysts covering Hindustan Aeronautics stock have maintained their ‘Buy’ rating on the stock after the quarterly results. One analyst has advised to ‘hold’ this stock and 2 have advised to ‘sell’ it. The highest target price has been given by Antique Stock Broking. The brokerage expects this stock to go up to Rs 6,145. This is about 30 percent more than the current price of this stock. Global brokerage firm Jefferies has expressed hope that HAL’s stock can go up to Rs 5,725.
Jefferies believes that due to strong order book and pipeline, HAL will continue to grow in double digits for the next three to five years. The company’s margins will increase and revenue will also increase in the second half of FY 2025. UBS has also advised investors to buy HAL shares. The brokerage expects Hindustan Aeronautics to get orders worth up to Rs 1 lakh crore in FY 2025. UBS has given a target price of Rs 5,700 to HAL shares.
Profit increased by 76 percent
Hindustan Aeronautics’ net profit in the June quarter rose 76 percent year-on-year to Rs 1,435 crore. EBITDA margin increased by 0.40 percent to 22.8%, from 22.4 percent in the same quarter a year ago.
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Tag: Business News, Money making tips, Multibagger Stocks, Stock Market
first published : August 16, 2024, 3:13 pm IST
