HAL Share Price Soars Amidst Election Season 📈
Since the start of the voting process for the Lok Sabha elections, the stock market has been witnessing continuous ups and downs. Sometimes the market takes a big leap and the next day it plunges. However, amidst this volatile market, government companies have made investors wealthy.
In the defense sector, Hindustan Aeronautics Limited (HAL) shares have made investors rich. Prime Minister Narendra Modi mentioned the company in one of his speeches, which led to a doubling of the share price. Since August last year, this stock has given investors a strong return of nearly 140%. The HAL stock price was Rs 1,895 on August 10, 2023, and has now reached Rs 4,539.
Experts predict that if the BJP forms a stable government in the country in the current election environment, there is a possibility of further government and rapid growth in shares. Therefore, the opportunity to buy this stock is still present.
Last year, Prime Minister Narendra Modi gave a fiery speech in Parliament for nearly two hours and 13 minutes in response to the no-confidence motion by the opposition. He attacked the opposition sharply and advised investors to keep an eye on companies like HAL in the stock market if they are investing.
HAL announced its quarterly results on Thursday, setting a new record. The company recorded a net profit of Rs 4,308 crore for the January-March 2024 quarter, which is 52% higher than the previous year. With strong quarterly results, the company’s share purchase also saw a significant increase.
Other government companies’ shares have also filled investors’ pockets. These include LIC, Rail Vikas Nigam, MMTC, NDMC, Central Bank, UCO Bank, IRCON, NHPC, among 56 companies. Rail Vikas Nigam has given investors a 138% return in one year, while NMDC has earned a profit of 158% in the same period. IRCON shares also saw a 227% increase.
Disclaimer: This is News Coverage with Opinions of Experts and Should Not Be Taken as Direct Market Buying Tip. Market is always subject to risk. We recommend taking our content as research before investing.
