Last Update: March 20, 2023, 11:21 AM IST
Should you buy HAL shares?
In the last 12 months, HAL has declared an equity dividend of Rs 30 per share, resulting in a dividend yield of 1.05 per cent.
Shares of Hindustan Aeronautics Limited (HAL) corrected nearly 3 per cent as the Indian aerospace and defense major trades ex-date. The counter opened at Rs 2,787.9 on the NSE and at 9:55 am, HAL shares closed at Rs 2,712.75, down 3.08 per cent from its previous close of Rs 2,798.95. Around 10 am, 3,15,175 shares traded aggregating Rs 8,634.69 lakh.
The ex-dividend date is when the price of equity shares of a company gets adjusted for dividend payment. This is one or two business days before the record date. All those shareholders whose names appear in the list of the company as on the end of the record date shall be eligible to receive the dividend.
The company has declared an interim dividend of Rs 20 per equity share for FY 22-23, ie 200 per cent growth on the face value of Rs 10 per share.
“The board of directors of the company has, inter alia, declared a second interim dividend of Rs 20 per equity share of Rs. 10/- each fully paid 200 per cent for the financial year 2022-23,” the filing said.
“The record date for the payment of the second interim dividend will be Monday, March 20, 2023,” according to the filing. The dividend will be credited directly to the bank account of the shareholders on the payment date.
In the last 12 months, HAL has declared an equity dividend of Rs 30 per share, resulting in a dividend yield of 1.05 per cent.
should you buy
Analysts at ICICI Direct have initiated “Buy” action on Hindustan Aeronautics with a buy range of Rs 2,785-2,835 and a target price of Rs 3,240. This represents upwards of 14 per cent and the time frame given is three months. The stop loss can be placed at Rs 2,580.
It expects the stock to witness an upside rally and move towards Rs 3,240 as this is the implied target of the last three months’ consolidation (2800-2300).
HAL shares have almost doubled in the last one year. It has given a positive return of 89 per cent to its shareholders in the last one year. The market cap of the company at the current market level is Rs 92.09 thousand crore.
Disclaimer:Disclaimer: The views and investment tips given by the 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 decision.
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