Shares of government defense company Hindustan Aeronautics Ltd have seen a rise on Monday morning. Shares of the company opened at 4535.80 in BSE today. Let us tell you, Hindustan Aeronautics Limited has got the status of ‘Maharatna’ company.
On Friday, shares of Hindustan Aeronautics Limited closed at Rs 4446.85 on BSE. In comparison to that, the company had a weak start today. But shortly after this, the defense stock made a sharp recovery. Due to which HAL shares rose by more than 2 percent (by 9.30 am) to reach an intra-day high of Rs 4545.90 in BSE.
Hindustan Aeronautics Limited became the 14th company.
Hindustan Aeronautics Limited is the 14th company to join the group of Maharatna companies. There are big companies like NTPC, ONGC, SAIL, BHEL in this group. Let us tell you, Maharatna companies have more freedom. Hindustan Aeronautics Limited will be able to invest Rs 5000 crore or 15 percent of the net worth in any one project without the permission of the government. The company will now have more freedom for acquisitions.
Experts bullish
Sumit Bagadia, associated with brokerage firm Choice Broking, says, “HAL shares look bullish on technical chart patterns. Those who hold HAL shares are advised to hold between Rs 4700 to Rs 5000 for short term. With stop loss of Rs 4300.”
How were the last 6 months in the stock market?
In the last one year, this company has given returns of more than 100 percent in the stock market. Investors who have been holding for 6 months have got a profit of 24 percent so far. The past one month has not been good for investors. During this period the stock has fallen by about 2 percent. Let us tell you, 52 week high of HAL is Rs 5,675.
