HAL hits a new 52-week high and L&T's stock price rises; here’s why!
The stock has a PE of 14.92x and an ROE of 29.12 per cent with multibagger returns of 118.12 in just 1 year.
Hindustan Aeronautics Ltd (HAL) informed the exchange that the Ministry of Defence, on March 07, 2023, signed contracts with HAL and Larsen & Toubro Limited (L&T) for the procurement of 70 HTT-40 Basic Trainer Aircraft & three Cadet Training Ships respectively in the presence of Raksha Mantri Shri Rajnath Singh in New Delhi.
The contract inked between these companies and the Defence ministry is worth Rs 9,900 crore. Hindustan Aeronautics has orders worth Rs 6,800 crore and Larsen & Toubro have orders worth Rs 3,100 crore for 70 HTT-40 Basic Trainer Aircraft & three Cadet Training Ships.
Today, shares of Hindustan Aeronautics surged 6.81 per cent to a new 52-week high of Rs 2,894.45 per share and shares of Larsen & Toubro surged 2.27 per cent to an intraday high of Rs 2,189.10 per share.
About Hindustan Aeronautics Ltd (HAL)
HAL plays a strategic role in India’s defence program, being the only Indian company having specialization in aircraft manufacturing and providing its maintenance and related services. Today, shares of the company saw a spurt in volume by more than 4.23 times on BSE. The stock has a PE of 14.92x and an ROE of 29.12 per cent.
About Larsen & Toubro Ltd (L&T Ltd)
L&T Ltd is a leading Indian multinational company mainly engaged in EPC projects, Hi-Tech manufacturing and services. Today, shares of the company saw a spurt in volume by more than 2.33 times on BSE. The stock has a PE of 30.4x and an ROE of 11.65 per cent.
The shares of Hindustan Aeronautics Ltd generated multibagger returns of 118.12 per cent in just 1 year whereas shares of L&T Ltd generated 31.95 per cent returns in the same period. Investors should keep these Large-Cap stocks under their radar.