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- The stock of Hindustan Aeronautics Limited has been falling for the last 2 days
- Shares of HAL closed at Rs 5328.75 on Tuesday
- A year ago HAL share was Rs 1925.13
The stock of Hindustan Aeronautics Limited, one of the largest defense companies of the country, has been falling for the last 2 days. By the time the market closed on Thursday afternoon, the company's shares were down nearly 6 percent. Then finally know why the prices of these favorite shares of Prime Minister Modi have come down.
Once during his speech in Parliament, Prime Minister Modi mentioned HAL and said that the shares of government companies will give good returns in the market in the coming days. HAL stock has also shown that, now the share price is going down.
The company's stock gave a return of 163.62 percent
Shares of HAL closed at Rs 5328.75 on Tuesday. Then on Thursday it saw a major decline and touched a low of Rs 4975.35. Similarly till 1 pm it was running at Rs 5084.25 on BSE. This has seen a huge drop in the company's stock. Whereas if we look at the figures of one year, the company's stock has given a return of 163.62 percent. A year ago HAL share was Rs 1925.13. While the highest in 52 weeks has gone to the level of Rs 5674.75.
HAL's stock fell due to this
The reason for the fall in HAL shares is the change in its shareholding pattern. According to the April-June quarterly data, the number of small investors has increased among the company's share holders. A small and retail investor is one who has an investment of less than 2 lakh rupees in a company. The company has seen a 60 percent increase in the number of investors, which has reached 10.8 lakh. While in the previous quarter January-March, the number of such investors was only 6.9 lakh. The increase in retail trading in the company's shares led to an increase in its share price.
HAL's profit stood at $92.1 million
Regarding the decline in HAL's share price, brokerage firm Incred says that the market perception of valuation in defense sector stocks is weak. It also includes HL. The brokerage firm has also conducted a comparative study of HAL and its peer The Salt Aviation on valuation. Last fiscal year, The Salt made a profit of $97.4 million. While in that time the profit of HAL has been 92.1 million dollars.