Buy Hindustan Aeronautics, target price Rs 1670: ICICI Direct

ICICI Direct has buy call on Hindustan Aeronautics with a target price of Rs 1670. The current market price of Hindustan Aeronautics is Rs 1603.85. Time period given by analyst is Intra Day when Hindustan Aeronautics Ltd. price can reach defined target.

Hindustan Aeronautics Ltd., incorporated in the year 1963, is a Large Cap company (having a market cap of Rs 53515.38 Crore) operating in Defence sector.

Hindustan Aeronautics Ltd. key Products/Revenue Segments include Sale of services, Engineering Goods, Spares And Others, Development Projects, Other Operating Revenue and Miscellaneous for the year ending 31-Mar-2021.



Financials
For the quarter ended 31-03-2022, the company reported a Consolidated Total Income of Rs 12061.79 Crore, up 98.10 % from last quarter Total Income of Rs 6088.66 Crore and up 10.96 % from last year same quarter Total Income of Rs 10870.24 Crore. Company reported net profit after tax of Rs 3103.99 Crore in latest quarter.


Investment Rationale
Buying demand emerging at the recent breakout area and 50 days EMA

Promoter/FII Holdings
Promoters held 75.15 per cent stake in the company as of 31-Mar-2022, while FIIs owned 13.21 per cent, DIIs 8.16 per cent.