In the year 2024, the shares of HAL have increased by 64%. This multi-bagger stock has given 143% return in one year. The company’s profit has increased by 76% in the June quarter.
New Delhi. Shares of Hindustan Aeronautics Limited (HAL) saw a gain of 2% today on August 16. At 2:45 pm, shares of HAL were trading at Rs 4752.80, up 1.95 percent on the NSE. Share prices have rallied after the company’s strong June quarter results. Most analysts covering HAL have given the stock a buy recommendation. The multi-bagger stock is trading near its highest level in the last 52 weeks and is up 68% so far this year. In the last one year it has given investors 143% return.
Analysts believe that HAL has a strong order book and the company’s margins are expected to improve in the near future. Brokerages like Jefferies believe that HAL will achieve double-digit growth in the next few years. UBS estimates that the company could get new orders worth over Rs 1 lakh crore in the next few years. The rise in HAL shares shows that investors are confident about the future of the company. Strong order book, increasing margins and government support are positive indicators for the company.
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13 analysts gave a 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 recommended ‘Hold’ and 2 have recommended ‘Sell’ to the stock. The highest target price is given by Antique Stock Broking. The brokerage expects the stock to go up to Rs 6,145. This is about 30% higher than the current price of this share. Global brokerage firm Jefferies expects HAL shares to go as high as Rs 5,725.
Jefferies believes that HAL will continue to grow in double digits for the next three to five years due to its strong order book and pipeline. In the second half of FY2025, the company’s margins will increase and revenue will also increase. 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 FY2025. UBS has given a target price of Rs 5,700 to HAL shares.
Profits increased by 76%.
Hindustan Aeronautics’ net profit rose 76% year-on-year to Rs 1,435 crore in the June quarter. EBITDA margin increased 0.40 percent to 22.8 percent, from 22.4 percent in the same quarter a year ago.
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First Publication: August 16, 2024, 15:13 IST
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