Multibagger HAL share price gains 5% to 52-week high on Light combat helicopters tender

  • Stock Market Today: Multibagger Hindustan Aeronautics (HAL) share price gained 5% to scale 52-week highs on Tuesday on Light combat Helicopters tender by the government

Ujjval Jauhari
First Published18 Jun 2024, 09:30 AM IST
Multibagger Hindustan Aeronautics share price in focus
Multibagger Hindustan Aeronautics share price in focus

Stock Market Today; Multibagger stock Hindustan Aeronautics (HAL) share price gained more than 5% in opening trades on Tuesday to 52- week high following news flow pertaining to tenders being floated by the government for Light Combat Helicopter. Hindustan Aeronautics (HAL) share price having gained more than 170% in last one year already has given Multibagger returns to the investors. The Hindustan Aeronautics (HAL) share price that opened at 5,460.10 , 5% higher over the previous close of 5200.55, thereby gained further more to all time highs of 5,497.90 in the morning trades on the NSE.

HAL in its release on the exchanges said that "Request for Proposal (RFP) has been issued by the Ministry of Defence for procurement of 156 Light Combat Helicopter. Out of the total, 90 numbers are for Indian Army and 66 numbers for the Indian Airforce.

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The investor confidence already remains strong on HAL share price looking at the governments focus on "Make in India".

Analysts too have maintained a positive outlook. Analysts at Jefferies India Pvt Ltd in their recent report said that the sentiment remains upbeat on defence indigenisation and export focus continuing.

The strong order book with visible pipeline also increase the likelihood that double-digit growth will continue for the next three to five years, as per analysts.

 

Given the significant technology entry barriers in the industry, which are yet to be reflected in multiples as compared to other industrials, analysts at Jefferies think HAL is in a very favorable position.

The target price for HAL share price as per Jefferies stands at 5,725 indicating more upside for stock trading at around 5480.

HAL's order book already stood at around Rs94,000 crore, which is 3.2 times FY24 sales >

The order book itself had indicated that HAL has a solid revenue visibility for FY24–27. Furthermore, added to the orderbook is the robust order pipeline

As per analysts order pipeline stood at Rs1.6–1.7 trillion, which is expected to be awarded during the next 12–24 months.

Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before taking any investment decisions

 

 

 

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First Published:18 Jun 2024, 09:30 AM IST
HomeMarketsStock MarketsMultibagger HAL share price gains 5% to 52-week high on Light combat helicopters tender

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