Last Updated: March 20, 2023, 11:21 IST
Should you Buy HAL Shares?
In the past 12 months, HAL has declared an equity dividend amounting to Rs 30 per share, which results in a dividend yield of 1.05 per cent.
Shares of Hindustan Aeronautics Ltd (HAL) corrected almost 3 per cent as the Indian aerospace and defence major trades ex date. The counter opened at Rs 2,787.9 on NSE and at 9:55am, HAL shares quoted at Rs 2,712.75, down by 3.08 per cent from its previous closing price of Rs 2,798.95. As many as 3,15,175 shares changed hands worth Rs 8,634.69 lakh around 10am.
The ex-dividend date is when the price of the equity shares of a company gets adjusted for the dividend payout. It is one or two working days before the record date. All the shareholders whose names appear in the company’s list by the end of the record date will be eligible to receive dividends.
The company has declared an interim dividend of Rs 20 per equity share for FY 22-23, i.e., 200 per cent on the face value of Rs 10 per share.
“The Board of Directors of the Company has, inter-alia, declared second interim dividend of Rs 20 per equity share of Rs. 10/- each fully paid up 200 per cent for the Financial Year 2022-23,” the filing said.
“Record date for the payment of second interim dividend will be Monday, 20th March, 2023,” according to the filing. The dividend will be credited directly to the bank account of the shareholders on the payment date.
In the past 12 months, HAL has declared an equity dividend amounting to Rs 30 per share, which results in a dividend yield of 1.05 per cent.
Should You Buy?
Analysts at ICICI Direct has initiated a “Buy” action on Hindustan Aeronautics with a buying range between Rs 2,785-2,835 and a target price of Rs 3,240. This represents an upside of 14 per cent and the time frame given is three months. Stop loss can be kept at Rs 2,580.
It expects the stock to accelerate upward momentum and head towards Rs 3,240 as it is the implied target of past three month’s consolidation (2800-2300).
HAL shares have almost doubled in the past one year. It has given a positive return of 89 per cent to its shareholders in past one year. At current market levels, the company has a market cap of Rs 92.09 thousand crore.
Disclaimer:Disclaimer: The views and investment tips by experts in this News18.com report are their own and not those of the website or its management. Users are advised to check with certified experts before taking any investment decisions.
Read all the Latest Business News here
For all the latest business News Click Here
