Buy Hindustan Aeronautics, target price Rs 2582: ICICI Direct

ICICI Direct has buy call on Hindustan Aeronautics with a target price of Rs 2582. The current market price of Hindustan Aeronautics is Rs 2572.5. Time period given by analyst is Intra Day when Hindustan Aeronautics price can reach defined target. ICICI Direct recommended to keep stop loss at Rs 2533.

Hindustan Aeronautics, incorporated in the year 1963, is a Large Cap company (having a market cap of Rs 85870.71 Crore) operating in Defence sector.

Hindustan Aeronautics key Products/Revenue Segments include Sale of services, Engineering Goods, Spares And Others, Development Projects, Miscellaneous and Other Operating Revenue for the year ending 31-Mar-2022.


Financials
For the quarter ended 30-09-2022, the company has reported a Consolidated Total Income of Rs 5403.86 Crore, up 41.68 % from last quarter Total Income of Rs 3814.10 Crore and down -5.00 % from last year same quarter Total Income of Rs 5688.54 Crore. Company has reported net profit after tax of Rs 1218.94 Crore in latest quarter.

The company’s top management includes Mr.R Madhavan, Mr.C B Ananthakrishnan, Dr.Divya Gupta, Mr.Deepak Abasaheb Shinde, Mr.Alok Verma, Mr.E P Jayadeva, Mr.Arup Chatterjee, Mr.Chandraker Bharti, Dr.(Ms.)Tessy Thomas. Company has Maharaj N R Suresh & Co. as its auditors. As on 31-12-2022, the company has a total of 33 Crore shares outstanding.

Investment Rationale
Supply line breakout and price resuming uptrend after higher base formation above 100day EMA , suggests further upward momentum.

Promoter/FII Holdings
Promoters held 75.15 per cent stake in the company as of 31-Dec-2022, while FIIs owned 7.14 per cent, DIIs 12.72 per cent.