Hindustan Aeronautics Share Price: The stock of public sector giant multibagger aerospace and defense company Hindustan Aeronautics Limited reached a new record high in Friday’s trading session. In today’s trading session, the share of HAL rose by 7 per cent to reach the level of Rs 3785, which is a historic level. At the end of trading, the stock closed at Rs 3732.90, up by Rs 205.50 or 5.83 per cent.
Why did HAL share rise?
Hindustan Aeronautics Limited has informed the stock exchanges in a regulatory filing that an important meeting of the company’s board will be held on Tuesday, June 27, 2023. In this meeting, the sub-division ie split of the stock of Hindustan Aeronautics Limited will be considered. Due to this news, a record boom has been seen in the stock.
The stock split would mean that the shareholders of Hindustan Aeronautics Limited would have more shares after the sub-division of the stock. Also, LAL’s stock is trading at a high price, due to which a stock split has been decided to make the stock affordable for small investors. Although this will not affect the market capitalization of the company, but more shares will be available for trading in the market.
HAL is a multibagger stock
Let us tell you that for the last six trading sessions, the stock of Hindustan Aeronautics Limited is seeing a steady rise. Since June 2, 2023, there has been a jump of 23 percent in the stock. The stock has given 30% return in 3 months, 100% in 1 year, 256% in 2 years, 470% in 3 years. Despite this rally in the stock, brokerage houses are bullish looking at the company’s order book. ICICI Securities has said that the order book of HAL may increase further. It has been said in the report that HAL and General Electric are about to enter into an agreement for the production and testing of the F414-INS6 engine for the Tejas fighter aircraft.
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