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Hindustan Aeronautics gains for fourth straight day, ends at an all-time high

Hindustan Aeronautics gains for fourth straight day, ends at an all-time high

Hindustan Aeronautics gains for fourth straight day, ends at an all-time high
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By CNBCTV18.com Nov 16, 2022 4:38:35 PM IST (Published)

The company’s shares have increased more than 14 percent over the past month while it had nearly doubled in value over the past year-long period.

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Shares of Hindustan Aeronautics Ltd. surged to a new 52-week high on Wednesday extending its gains for the fourth straight session.


The stock has gained over 10 percent in the last four sessions. It hit a high of Rs 2,709 on Wednesday during intraday trading.
The stock has more than doubled in value this year.

In the September quarter, the company’s profit rose 44.15 percent to Rs 1,221 crore from Rs 847 crore in the year-ago quarter. The growth in profitability was due to a 90 percent jump in the company's other income. However, revenue for the quarter had declined 7 percent year-on-year.

The company also announced a dividend of Rs 20 per share.

In the previous financial year, HAL recorded its highest-ever revenue of more than Rs 24,000 crore.

The stocked ended trade at Rs 2,679, up 6.19 percent.
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