This defence stock jumped nearly 2% in Monday’s trading session after the company announced a stock split in the ratio of 1:2. The stock saw a strong momentum today.
Share prices of HAL opened at Rs. 3964.35 per piece and gained up to 2% to reach its intra- day high of Rs. 4019 levels. The stock has shown a growth of 37.67% in the last six months and 65.79% in the last one year.
According to a recent filing, the shareholders of the company approved a stock split in the ratio of 1:2 at its Annual General Meeting (AGM) held on 31 August 2023. That means that one fully paid up equity share with a face value of Rs. 10 per share will be split into two fully paid up equity shares with a face value of Rs. 5 each. The record date for the same is set as 29 September 2023.
The company currently holds a market capitalization of Rs. 1,31,867 crore. Comparing on a QoQ basis, the company had a decline in its revenues for 68.6 from Rs. 12494.67 crore in Q4FY23 to Rs. 3915.35 crore in Q1FY24. Its net profit which was Rs. 2831.18 crore in Q4FY23 decreased by 71.2% to Rs. 814.24 crore in Q1FY24. The company had a healthy order book position of Rs. 81,78,400 Lakh as on 31st March, 2023.
Hindustan Aeronautics Limited is a defence and aerospace company. Incorporated back in 1942, HAL is one of the leading companies in its sector. The company is one of the oldest and largest manufacturers present. HAL indulges itself in the manufacturing of jet engines, fighter jets, helicopters, and others.
Written by Bhumika Khandelwal
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