HAL Share Price Soars to New Heights on 15 May 2024
📈 In April, amidst softening retail inflation and market capitalization, India’s most valuable company, Reliance Industries, provided support to the market through its purchases. The BSE Sensex, comprising 30 shares, closed at 73,104.61 points with a gain of 328 points, i.e., 0.45%. It saw a high of 510.13 points during the trading session. The National Stock Exchange’s Nifty also closed at 22,217.85 points with a gain of 113.80 points, i.e., 0.51%.
📊 UBS has recommended buying HAL shares, increasing the target price from ₹3,600 to ₹5,200 per share. The share price closed at ₹3,921 on May 13, 2024. This could potentially result in a robust return of almost 33% from the current price.
💰 On Tuesday, May 14, the stock surged by nearly 3.6% to reach a 52-week high of ₹4,065. By Wednesday, May 15, the share price had further increased by 2.74% to trade at ₹4,186.
📈 HAL shares have shown strong performance over the past year, providing returns of over 170% as a multi-bagger PSU defense stock. In the last six months alone, the stock has surged by almost 100%. Year-to-date in 2024, the stock is up by nearly 45%. Last week, the company delivered a return of 9%.
📊 Brokerage firm UBS expects HAL’s order book to quadruple. The company is expected to receive orders worth ₹5.3 lakh crore during the financial years 2024-28. HAL currently has a robust order book of approximately ₹1.29 lakh crore and sufficient capacity for large orders.
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.
