HAL to manufacture 240 engines for Air Force for Rs 26,000 crore
Not only you and I are crazy about the stock market, the Prime Minister of India is also there. The government company which was praised by PM Modi in Parliament last year. It has provided huge returns to investors in the last one year. At the same time, two big news coming on the same day can also impact the company’s stock. This shareholding of a government company has given 128 percent return to the people in a year. If we look at the performance of Multibagger Defence PSU stock, the stock has risen 43 percent in the last 6 months, 65 percent so far in the year 2024 and 128 percent in the last one year. In such a situation, the company’s stock can again become a rocket after receiving orders worth crores from the Ministry of Defence. Let us know which two big news have come someday and can have an impact on the stock…
first big news
While promoting Make in India, the Ministry of Defence signed a major deal with public sector aerospace company Hindustan Aeronautics Limited. The company and investors are expected to get rich again from this deal. In fact, HAL will now manufacture 240 engines for the Air Force’s Sukhoi-30MKI fighter jet.
The Ministry of Defence has signed this deal with HAL for Rs 26,000 crore. This move is seen as a boost to the government’s Aatmanirbhar Bharat initiative of a self-reliant India. These aircraft engines will be manufactured by HAL’s Koraput division. This is expected to meet the Indian Air Force’s (IAF) requirement of maintaining the operational capability of the Sukhoi-30 fleet.
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second big news
Hindustan Aeronautics Limited has appointed DK Sunil as the new Chairman of the company. Earlier, DK Sunil held the additional charge of Chairman and Managing Director (CMD) of the company. Every time HAL received a large order from the government, the company’s stock would soar. Now that an order worth Rs 26,000 crore has been received, the stock is likely to rise again.
share status
If we look at the performance of Multibagger Defense PSU stock, the stock has given good returns to investors. The stock is up 43 percent in the last 6 months, 65 percent so far in 2024, and 128 percent in the last one year. The stock has risen 283 percent in the last 2 years and 577 percent in the last 3 years. The 52-week high of the stock is Rs 5,675, which it touched on July 9, 2024. The 52-week low is Rs 1,767.95. The market capitalization of the company is Rs 3,11,274.64 crore. On Monday (September 9), the stock fell 0.98 percent and closed at Rs 4,654.40.
1 lakh converted into Rs 2,78,026
Whoever had invested Rs 1 lakh in HAL a year ago, its value today has become Rs 2.78 lakh. In fact, a year ago the share price of the company was Rs 2,049, while the maximum life of the share is Rs 5,675. A year ago, if someone had bought 50 shares for Rs 1 lakh, its value would have become Rs 2.78 lakh.
