HAL Share Price | Defense company shares will prosper, bullish signs on technical chart pattern, take advantage – NSE: HAL
HAL Share Price | PSU Hindustan Aeronautics Limited granted 'Maharatna' status from Ministry of Finance, Government of India (NSE: HAL) Got it. This has had a positive impact on the share price. There was a strong rise in the shares of PSU Hindustan Aeronautics Limited Company on Monday. Shares of HAL company opened at Rs 4,518 on NSE yesterday. (Hindustan Aeronautics Limited Company Excerpt)
Current status of stock
The share opened at Rs 4,518 in early trade on Monday morning. Last week on Friday, the company's shares closed at Rs 4,446.85 on BSE. Soon after this, the shares of Hindustan Aeronautics touched a high of Rs 4,513.80. On Monday, October 14, the company's shares closed at Rs 4,513.80, up 1.52 per cent. On Tuesday, October 15, the stock had risen 1.62 percent to Rs 4,580.65. On Wednesday (October 16, 2024), the stock was trading 1.26% higher at Rs 4,630.
14th company to get Maharatna status
Earlier there were a total of 13 Maharatna PSU companies in the country. Hindustan Aeronautics Limited is the 14th company to receive Maharatna status. The list of PSU companies that have achieved Maharatna status in the past includes big companies like NTPC Limited, ONGC Limited, SAIL Limited, BHEL Limited. The company gets many benefits by getting Maharatna status. PSU companies receiving Maharatna status from the central government get more freedom in decision making. Hindustan Aeronautics Limited can now invest up to Rs 5,000 crore or 15% of its net worth in a single project without central government approval. The company will now have more freedom to make acquisitions.
Bullish signals on technical chart patterns
Sumit Bagadia, expert at Choice Broking brokerage firm, has given 'BUY' rating for HAL stock. Sumit Bagadia said, 'We are seeing bullish signs on the stock technical chart pattern. The short-term target price for these shares has been declared at Rs 4,700-5,000. It has also advised investors to set a stoploss of Rs 4,300.
return on stock
HAL stock has given multibagger returns to investors. The stock has given more than 100% returns in the last one year. The stock has given 24% returns in the last six months. However, the stock has fallen about 2% over the past month. Hindustan Aeronautics Limited's 52-week high is Rs 5,674.75.
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