The shares of this PSU defence stock opened marginally lower today by 0.5 percent, the board has approved stock split in proportion of 1:2. Shares of Hindustan Aeronautics Ltd have delivered returns of 46.61 percent in the last 6 months and 68.88 percent in a year.
At 11:00 shares of Hindustan aeronautics Ltd were trading at Rs. 3854 per share, down by almost 0.5 percent from the previous close price and the company has market capitalization of 128,898 crore.
In filings, the company informed of a stock split of existing one equity share of face value of Rs. 10 each fully paid up into two equity shares of Rs. 5 each fully paid up. 29th September is the record date to determine the eligibility of shareholders for the proposed split of shares.
Having a glance at financial reports, the company’s revenue decreased by 68 percent from Rs. 12,494.67 in Q4FY23 to Rs. 3915.35 in Q1FY24, in the same time period company’s net profit decreased by 71.2 percent from Rs. 2831.18 in Q4FY23 to Rs. 814.24 in Q1FY24.
The promoters of the company hold about 71.64 percent stake in the company, while foreign institutional investors hold 11.90 percent and domestic institutional investors hold 10.64 percent in the company.
Hindustan Aeronautics Ltd (HAL) is an aerospace and defence company, owned by the government of India. The company develops, designs, manufactures, and supplies aircraft, helicopters, avionics, and communications equipment for military and civil markets.
Written by Vinit Israni
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