This multibagger stock has given 62 percent profit in the year 2024.This stock has given 19 percent return in the last one week. Global brokerage firm USB has given it a ‘buy’ rating.
New Delhi. Hindustan Aeronautics Limited (HAL) shares have seen a strong rally today. Intraday, this PSU defense stock rose 10 per cent to reach its all-time high level of Rs 4,656.40. Later in the evening, HAL shares closed at Rs 4637.90 (HAL Share Price). The company has announced the results of the fourth quarter of the financial year 2024 today. The results of the March quarter have been as per the expectations of investors and brokerage houses. On a consolidated basis, the company’s net profit jumped 52 per cent to Rs 4308 crore. An 18 per cent jump has also been registered in revenue.
HAL stock is giving huge returns to investors. This stock has given 19 percent return in the last one week, 16 percent in two weeks, 23 percent in one month, 48 percent in three months, 115 percent in six months and 195 percent in one year. So far in the year 2024, this defense stock has given 62 percent profit to the investors. It has given a multibagger return of 470 percent in two years and 830 percent in three years to the investors.
HAL share will rise further now
According to a report by Live Mint, Sumit Bagadia of Choice Broking says that HAL stock will rise further. This stock is getting strong support at Rs 4150. Bagadia says that investors who do not have this stock should adopt the ‘buy on dip’ strategy and buy this stock on dips. Bagadia has also advised investors to keep a stop loss at Rs 4150. Similarly, global brokerage firm UBS, in its note released on May 14, gave a ‘buy’ rating to HAL stock and set a target price of Rs 5200.
18 percent jump in revenue
Hindustan Aeronautics Limited’s revenue has jumped by 18 percent in the fourth quarter of the financial year 2024. On a consolidated basis, the company’s operational income stood at Rs 14768.75 crore as against Rs 12494.67 crore in the same quarter a year ago. Profit before tax increased from Rs 2843.66 crore to Rs 5795 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) increased from Rs 42.33 to Rs 64.43. Similarly, HAL’s margin increased from 26% to 40% in the fourth quarter.
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Tags: Money Making Tips, Multibagger stock, Stock market
FIRST PUBLISHED : May 16, 2024, 17:11 IST