Share price of this defence stock hit a new 52-week high of Rs. 3,323.2 on NSE in the morning trading session of March 7th, after the company announced a revised contract to Rs. 5,077.95 crore.
With a market capitalisation of Rs. 2.2 lakh crores, at 11:52 a.m. the shares of Hindustan Aeronautics Limited (HAL) were trading in the green at Rs. 3,327.3, up by 3.07 percent, whereas, its previous closing price was Rs. 3,228.2.
In the last one year, the company has delivered positive returns of about 131.14 percent and nearly 63.81 percent in the last six months. So far in 2024, it has delivered positive returns of around 17.09 percent.
According to recent regulatory filings with the stock exchanges, Hindustan Aeronautics Ltd. has signed an amendment to the LCA (Light Combat Aircraft) IOC (Initial Operational Clearance) Contract related to developing Tejas aircraft.
The value of the contract received by the company has been revised from Rs. 2,700.87 crore to Rs. 5,077.95 crore.
In terms of financials, the company’s revenue from operations grew by 7.54% from Rs. 5,636 crores in Q2 FY23-24 to Rs. 6,061 crore in Q3 FY23-24.
The net profit of the company also increased by 1.53% from Rs. 1,235 crore in Q2 FY23-24 to Rs. 1,254 crore in Q3 FY23-24.
As of December 2023, FIIs hold 12.93 percent of the shares, whereas DIIs hold 9.13 percent of the shares in the company, aggregating to 22.06 percent of the institutional holdings.
The FIIs increased their holding by 0.3 percent from 12.63 percent in Q2 FY23-24 to 12.93 percent in Q3 FY23-24.
Incorporated in 1940, Hindustan Aeronautics Ltd. is an Indian public-sector aerospace and defence company, headquartered in Bangalore.
The company is engaged in the business of manufacture of aircraft and helicopters and repair and maintenance of aircraft and helicopters.
Written by Shivani Singh
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