PSU receives mega order of Rs 50,000 cr from Defence Ministry – BUY, SELL or HOLD?
hal share price target 2024: psu receives mega order of rs 50,000 cr from defence ministry – buy, sell or hold?
HAL Share Price Target 2024: In a significant boost to Made in India in defence, Hindustan Aeronautics Limited (HAL) said on Monday that the Defence Ministry has issued a Request for Proposal (RFP) for 156 Light Combat Helicopters (LCH).
The tender is likely to be valued around Rs 50,000 crore, with helicopters being bought by the Indian Air Force and Army. The company stated that 90 of the 156 Light Combat Helicopters will be procured for the Indian Army (IA), with the remaining 66 for the Indian Air Force (IAF).
"In terms of Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we would like to inform that, Request for Proposal (RFP) has been issued by the Ministry of Defence for the procurement of 156 Light Combat Helicopter (90 nos. for IA and 66 nos. for IAF)," the company said in a regulatory filing on Monday.
HAL Share Price Today
Hindustan Aeronautics Limited's shares closed at Rs 5199.60, up Rs 96.45 (1.89%), on June 17, 2024. During the trading day, the stock began at Rs 5139, peaked at Rs 5260, and fell to Rs 5103.15. The stock's 52-week high is Rs 5,434.90, while the 52-week low is Rs 1,767.95.
HAL Share Price Target 2024
Jefferies, a global brokerage company, has given Hindustan Aeronautics (HAL) a 'BUY' rating with a target price of Rs 5,725, representing a 12% increase over the closing price of Rs 5,103 per share, on June 14. Jefferies expects HAL to expand by double digits over the next 3-5 years, underpinned by optimistic attitudes about defence indigenisation and exports.
"HAL is in a sweet spot because the business has high technology entry barriers," the global brokerage wrote in a note. Furthermore, Jefferies said that comparable values do not yet account for the combination of significant entry hurdles and HAL's near-monopoly industry.
Hindustan Aeronautics Limited (HAL) Share Price History
Hindustan Aeronautics Limited (HAL) has a market capitalization of Rs 3,47,736.25 crore on BSE. HAL is a constituent of the S&P BSE 100 index. According to BSE data, HAL shares have risen 9.57 percent in the previous week, 4.45 percent in the last two weeks, 83.93 percent year to date, and 64.18 percent in the last three months.
According to BSE statistics, HAL's shares returned 87.45 percent in the previous six months and 179.94 percent in the last year.
According to BSE statistics, the state-owned company's stock has soared 452.34% in the previous two years, 889.02% in the last three years, and a remarkable 1417.02 per cent in the last five years.