HAL shares gain 2% after Q1 earnings beat estimates. Nomura, other brokerages hike target price
In the first quarter of FY27, Hindustan Aeronautics showcased a robust 15% rise in net profit, prompting brokerages to adjust their target prices for HAL shares. Notably, Nomura retained its buy rating while upping its target to Rs 6,314. Meanwhile, Motilal Oswal also revised its target to Rs 5,800, attributing this to the impressive quarterly results. The company anticipates ramping up Tejas…
Hindustan Aeronautics Limited (HAL) shares experienced a 2% increase on Thursday following the company's strong earnings report for Q1 of FY27. Multiple brokerages, including Nomura and Motilal Oswal, raised their target prices for HAL after reviewing the company's impressive financial performance. The defense major reported a 15% increase in consolidated net profit, reaching Rs 1,590 crore, compared to Rs 1,384 crore in the same quarter last year.
Revenue from operations also grew by 14%, reaching Rs 5,515 crore. Despite an overall rise in total expenses, HAL's earnings per share (EPS) increased to Rs 23.77, marking a significant improvement from Rs 20.69 per share. The heightened investor confidence is reflected in the positive price movement of the shares, which closed 2% higher on Wednesday.
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