“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 up (200%) for the financial year 2022-23,” HAL said in a filing.
In the past 12 months, HAL has declared an equity dividend amounting to Rs 30 per share, which results in a dividend yield of 1.05%.
On Friday, shares of HAL are trading 0.48% lower at Rs 2,848 apiece on NSE. So far this year, the stock has gained about 12.09% on a year-to-date basis.
According to Trendlyne data, the company has an average target price of Rs 3,075 which represents an upside of 7.58% from the current levels.
The company reported 24% growth in consolidated net profit at Rs 1,155 crore in the third quarter, while revenue from operations came in at Rs 5,665 crore — down 4% year-on-year.
ICICI Direct sees HAL stock to accelerate upward momentum and head towards Rs 3,240 levels as it is the implied target of the past three month’s consolidation in the range of Rs 2,300-2800.”Among oscillators, the weekly RSI is inching upward while sustaining above its nine period’s average. Meanwhile, the weekly MACD is on the cusp of recording a bullish crossover, indicating acceleration of upward momentum,” it said.
The brokerage expects HAL to deliver revenue and EBITDA CAGR of 10.3% and 14.8%, respectively, over FY22-25E. Further, PAT is likely to grow at 12% CAGR over the same period.
“Increase in profitability with strong asset turnover is expected to result in healthy return ratios over FY23-25,” it said.
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