HAL share price: After the start of 2023, shares of Hindustan Aeronautics Ltd (HAL) have remained high this year. In YTD time, HAL’s share price has delivered more than 70 percent return to its shareholders. However, it looks like the defensive PSU stock still has some steam. The share price of HAL today opened up at ₹2,154.90 per share on NSE and went on to hit an intraday high of ₹2,178 per share, which turned out to be a new all-time high for the state defense stock.
HAL share price history
As mentioned above, HAL’s share price has been in a bull trend for YTD time. PSU’s defense rose from all around ₹1,270 to ₹2,178 per share levels in YTD time, delivering more than 70 percent return to its long-term position investors.
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In the last six months, HAL’s share price has risen from all around ₹1,500 to ₹2,178 for stock levels, registering about a 45 percent increase in this time. In the last month, this PSU stock has rallied from close quarters ₹1,810 to ₹2,178 po levels, registering about a 20 percent increase over this time. However, some stock market analysts are still bullish on HAL stock.
HAL share price target
Expecting further improvement in HAL’s share price, Sumeet Bagadia, Executive Director at Choice Broking said, “HAL’s share price still looks positive as per chart. HAL’s share price today has a strong support placed at. ₹2,100 levels and it faces a hurdle at ₹2,300 per levels. You can keep the bag for ₹2,300 per share target in near term keeping stop loss at ₹2,100 levels. In fact one can maintain a buy on dips strategy until HAL stock is aboe ₹2,100 levels.”
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HAL news
According to the exchange, HAL Ltd informed Indian stock exchanges about BSE and NSE notice citing, “As per Rule 30 of the SEBI (LODR) Regulations, 2015, we would like to inform that the Company is receiving notices from NSE and BSE for imposition of the penalty of Rs. 5,42,800/- each for the quarter ended September 30, 2023, for non-compliance with Regulation 17(1) relating to composition of Board of Directors due to insufficient number of Independent directors.”
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“In this regard, it may be noted that Hindustan Aeronautics Limited is a Government Company under the Ministry of Defence. Since appointment of Independent Directors in the Government Companies is made by the concerned Administrative Department of the Government of India, multiple requests have been made. to Ministry of Defense (MoD) to fill the vacant posts of Independent Directors in the Company,” HAL added.
Disclaimer: The views and recommendations made above are those of individual analysts or trading companies, and not of Mint. We advise investors to check with certified experts before making any investment decision.
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Updated: 24 Nov 2023, 12:02 pm IST