Buy Hindustan Aeronautics, target price Rs 2620: Kotak Securities

Kotak Securities has buy call on Hindustan Aeronautics with a target price of Rs 2620. The current market price of Hindustan Aeronautics is Rs 2544.8.

Hindustan Aeronautics Ltd., incorporated in the year 1963, is a Large Cap company (having a market cap of Rs 85106.63 Crore) operating in Defence sector.

Hindustan Aeronautics Ltd. 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 30-06-2022, the company reported a Consolidated Total Income of Rs 3814.10 Crore, down -68.38 % from last quarter Total Income of Rs 12061.79 Crore and up 115.98 % from last year same quarter Total Income of Rs 1765.96 Crore. Company reported net profit after tax of Rs 607.36 Crore in latest quarter.

Investment Rationale
Stock is into a rising channel formation and bullish engulfing candlestick pattern hints at up move

Promoter/FII Holdings
Promoters held 75.15 per cent stake in the company as of 30-Jun-2022, while FIIs owned 13.72 per cent, DIIs 7.55 per cent.