195% return in one year, this stock hit a record today, brokerage said-buy.

New Delhi. Shares of Hindustan Aeronautics Limited (HAL) have seen a sharp rise today. The PSU defense stock rose 10 percent intraday to its all-time high of Rs 4,656.40. Later in the evening, HAL shares closed at Rs 4637.90 (HAL share price). The company today announced results for the fourth quarter of fiscal 2024. The March quarter results were in line with the expectations of investors and brokerage houses. On a constant basis, the company’s net profit stood at Rs 4,308 crore, a growth of 52 per cent. An 18 percent increase in revenue has also been recorded.

HAL shares are giving good returns to investors. The stock has returned 19% in one week, 16% in two weeks, 23% in one month, 48% in three months, 115% in six months and 195% in one year. So far in the year 2024, this defensive stock has given investors a return of 62%. It has given investors multi-bagger returns of 470% in two years and 830% in three years.

Also read – The company’s trick was caught, this share will not be bought and sold from June 14, have you invested money somewhere?

HAL shares will rise further.
According to a report in LiveMint, Bagadia, including Choice Broking, says that HAL’s shares will rise further. The stock is finding strong support at Rs 4150. Bagadia says investors who do not own the share should adopt a ‘buy-on-dip’ strategy and buy the share when it falls. Bagadia has also advised investors to keep a stop loss of Rs 4150. Similarly, global brokerage firm UBS in its note issued on May 14 rated HAL shares as ‘buy’ and set a target price of Rs 5,200.

18% increase in revenue
Hindustan Aeronautics Ltd’s revenue grew by 18% in the fourth quarter of FY24. The company’s total revenue stood at Rs 14,768.75 crore as against Rs 12,494.67 crore in the same quarter a year ago. Profit before tax rose to Rs 5795 crore from Rs 2843.66 crore. Net profit i.e. PAT increased from Rs.2831.19 crore to Rs.4380.68 crore. At the same time, earnings per share (EPS) rose to Rs 64.43 from Rs 42.33. Similarly, in the fourth quarter, HAL’s margin increased from 26% to 40%.

(Disclaimer: The stock mentioned here is based on the advice of the brokerage houses. If you want to invest in any of them, consult a certified investment advisor first. News 18 of any profit or loss you make. will not be responsible).

Tags: money making tips, Multi bagger stock, Stock market