Hindustan Aeronautics (HAL) shares have been posting lower tops and lower bottoms on the daily chart, following a slide from an all-time high of Rs 5,674.75 in July of this year. The stock has since corrected by over 28%, including an 8.15% drop in the last month.
On the stock’s daily chart, the share price recently hit resistance near the Ichimoku cloud, resulting in a 6-7% fall in barely a week. Furthermore, the stock attempted to find support at its 200-day exponential moving average (DEMA) but failed to do so in Wednesday’s session.
HAL Q2 Results
On Thursday, November 14, Hindustan Aeronautics Limited (HAL) reported a 22.1% increase in consolidated net profit to ₹1,510.49 crore for the second quarter of the current fiscal year. Last year’s earnings after tax was ₹1,236.67 crore. In September 2024, the company’s consolidated revenue from operations grew by 6% to ₹5,976.29 crore, up from ₹5,635.7 crore the previous year.
EBITDA increased 7.3% to ₹1,640 crore from ₹1,527.7 crore in the previous year. The margin was 27.4% in Q2 FY25, compared to 27.1% in the second quarter of FY24. The company’s overall income climbed by 6.7% to ₹6,518.7 crore in the July-September quarter. In Q2 FY24, it totaled ₹6,105 crore.
The operations of Hindustan Aeronautics include the manufacture of aircraft and helicopters as well as their repair and maintenance.
HAL Stock Price Update
The share price of Hindustan Aeronautics has dropped by 30% since July 9, 2024, when it peaked at ₹5,675.00 a share, a 52-week high. HAL’s stock has dropped more than 11% over the last three months and more than 8% in a single month. On the other hand, the defense PSU stock has increased 47% so far this year and has had multibagger returns of more than 100% in a single year and more than 480% in three. HAL shares were up 0.59% at ₹4,089.35 per on the BSE at 1:05 PM.
