HAL Rallies 3% to Hit All-Time High As Board To Consider Stock Split; Key Details to Know
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Last Updated: June 09, 2023, 11:49 IST
HAL Share Price: Hindustan Aeronautics (HAL) shares rallied another 3 per cent in Friday’s trade to hit their new record highs as the company announced that its board of directors will meet later this month to consider the stock split proposals. The PSU counter has yielded multibagger returns to investors.
The Indian public sector undertaking (PSU) major has said that its Board of Directors will later this month on June 27, 2023, meet for the consideration of a proposal to conduct a sub-division of equity shares or stock split.
Splitting a stock typically increases the stock’s liquidity in the capital market and makes it more affordable for small investors. Doing so increases the number of shares in the market while keeping the stock’s market capitalization unchanged.
The trading window for trading in the securities of the company shall remain closed for all insiders including designated persons, connected persons and their immediate relatives, from tomorrow till 48 hours after declaration of the outcome of the board meeting.
The company has posted 8.8 per cent fall in its Q4FY23 net profit at Rs 2,831.18 crore versus Rs 3,105.17 crore, YoY.
Revenue of the company rose 8 per cent at Rs 12,494.67 crore against Rs 11,558.23 crore in March 2022.
Shares of the mega-cap stock have extended their upward movement for the fifth consecutive session on Friday, rising 15.12% during the period.
In the past one-year period, the PSU stock has made a strong rally of 91.45 per cent.
Shares of Hindustan Aeronautics have delivered a return of 600 per cent in the last three years. The multi-bagger PSU stock rose 40 per cent in the year 2023 so far.
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