HAL Hits 52-Week High Today and Goes Ex-Dividend Tomorrow

The Indian benchmark indices recovered from modest losses in the session’s early trades and were able to climb higher thanks to significant gains in capital goods and metal sectors. Only the BSE Fast Moving Consumer Goods and BSE Auto posted losses, while the majority of sectors were trading higher. 

Hindustan Aeronautics Ltd, one of the leading aerospace and defence companies, could be in the headlines as its shares will trade ex-dividend tomorrow, August 24, 2023. For the financial year ended March 31, 2023, the company’s board of directors recommended a final dividend of Rs 15 (150%) per equity share with a face value of Rs 10 each. 

Today, shares witnessed significant buying interest and surged more than 3%, reaching a 52-week high of Rs 4,018.90 per share on the BSE. The company’s healthy performance for the quarter ending in June 2023 has impressed investors.  

Taking into account the quarterly performance, on a consolidated basis, it reported a notable growth of 8.09% from Rs 3,622.46 crore registered in Q1FY23, recording total revenue of Rs 3,915.35 crore in Q1FY24. It has reported strong operating profit growth of 26.41%. Compared to the same quarter last year, the net profit for the first quarter of FY24 soared 31.3%, from Rs 620.14 crore to Rs 814.24 crore. The company has a healthy order book that includes manufacturing contracts, repairs, spares, and design & development projects. 

Hindustan Aeronautics Ltd (HAL) is a state-owned aerospace and defence company that manufactures, repairs and maintains aircraft and helicopters. The company actively participates in and makes a contribution to the country’s space programs. In 1988, a separate aerospace division was established. Through the division, HAL is now fulfilling the requirements of structures for ISRO satellites and aerospace launch vehicles.   

Considering the promising outlook for the industry and the potential for the company to grow further, keep a close eye on this stock in the upcoming sessions. 

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet, and is subject to changes. Please consult an expert before making related decisions.