HAL Share Price Target 2024: Defence PSU Registers Record Revenue! Time to BUY Hindustan Aeronautics?
HAL Share Price Target 2024, HAL Share Price News NSE BSE India: Aerospace and Defence PSU Hindustan Aeronautics (HAL) share price hit a fresh 52-week high in Monday’s trading session on the back record revenue by the Navaratna Public Sector Undertaking under the Ministry of Defence. HAL share price touched an intraday and a fresh record high of Rs 3,454.25 a share on the National Stock Exchange (NSE), zooming 3.82 per cent from its previous close of Rs 3327 apiece. HAL stock has been gaining for the last two days and has risen 3.73 per cent returns in the period.
The Bengaluru-headquartered company recorded revenue from operations of over Rs 29,810 crore (provisional and unaudited) for the financial year 2023-24 registering a growth of around 11 per cent as against nine per cent in the previous fiscal. The corresponding figure for the previous year was Rs. 26,928 crore.
HAL Share Price Target 2024
HAL is trading at record high but still bullish due to its monopoly and valuation as compared to sectors. VLA Ambala SEBI registered research Analyst and founder of SMT Stock Market Today noted that the current PE ration is just 36.22 compared to sectors PE ratio which is 58.64.
“I hold bullish view in stock and its business segment as i see a huge potential ahead too and one can hold it for more multifold return. Any pullback should be considered a as dip buying opportunity. Mid to long term traders can accumulate it 3200 to 3400 range. Keep target expectations higher 3650 to 5000 withing 8 to 20 Months period. Mid term investor can follow stop loss at 3000,” explained VLA Ambala.
HAL Share Price Today News
Hindustan Aeronautics stock is trading higher than 5 day, 20 day, 50 day, 100 day and 200 day moving averages. A total of 1.67 lakh shares changed hands today of Hindustan Aeronautics Ltd which is a constituent of S&P BSE 100 index generating a total turnover of Rs 56.93 crore. The large cap company has a market cap of Rs 2,27,604.20 crore, as per BSE website. The shares of the company have a PE of 20.97x. In volume terms, over 25.14 lakh shares of the company were traded on the NSE during the day.
Heavy Order Book
HAL received fresh manufacturing contracts of over Rs 19,000 crore and Repair and Overhaul (ROH) contracts of over Rs 16,000 crore during 2023-24. An export contract with Guyana Defence Forces for supply of two Hindustan-228 aircraft was signed during 2023-24.
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