Hindustan Aeronautics Limited (HAL) has been suggested as a buy by brokerage firm Motilal Oswal Financial Services Ltd (MOFSL) for a brief period of two to three days. Below is a summary of the salient information:
Buy HAL Defense Stock for Quick Gains
Update on the Market:
Indian equity indices set new records on Thursday, July 4. The Sensex hit 80,374 and the Nifty 24,400 in early trading. At 2:24 PM, the Nifty was up 0.22% at 24,339 and the Sensex was up 0.20% at 80,150.
Influence on the Global Market: The Nikkei 225 in Japan closed at a record high of 40,913.65, above its previous high from March.
MOFSL Stock Recommendation: Purchasing HAL is advised for upcoming profits. The brokerage has established a share price objective of Rs 5,750. HAL shares closed at Rs 5,459 on Wednesday, July 3, indicating a possible gain of about 6%. HAL shares finished at Rs 5,518.1 on Thursday, up 1.1% on the BSE, suggesting a potential return from the present market price of up to 5%.
HAL Q4FY24 Profitability, Buy HAL Defense Stock for Quick Gains
Net Income (PAT): Compared to Rs 2,831.19 crore in the same period last year, HAL recorded a 52% increase in consolidated PAT, hitting Rs 4,308.71 crore for the March quarter.
- Increase in Revenue: Consolidated revenue for the company increased by 18% YoY to Rs 14,768.75 crore in Q4FY24 from Rs 12,494.67 crore.
- Stock Performance: – Return after 12 months: Over the last year, HAL shares have returned more than 197%.
- YTD Return: The stock has increased 95% so far this year.
- 6-Month Refund: In the last six months, the value of HAL shares has almost doubled.
As recommended by MOFSL, HAL is a great short-term buy due to its strong performance and optimistic future.
Account opning link:
- Groww Account- https://app.groww.in/v3cO/kyrp1zph
- Kotak neo Account https://kotaksecurities.ref-r.com/c/i/32531/109103906
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