Hindustan Aeronautics jumps 6% to Rs 811.20 after consolidated net profit surged 116.41% to Rs 621.66 crore on 32.20% surge in net sales to Rs 3,451.07 crore in Q2 September 2019 over Q2 September 2018.
The result was announced after trading hours on Monday, 11 November 2019. BSE and NSE were shut yesterday, 12 November 2019, on account of Guru Nanak Jayanti.
The company reported an exceptional item of Rs 5.51 crore for Q2 September 2019, which represents compensation received from the Office of Special Land Acquisition Officer, Bangalore under KIADB Act, on acquisition of 12,304.64 sq.mtrs (3.04 acres)of HAL land at Beninganahalli village, Bangalore by Bangalore Metro Rail Corporation.
Shares of Hindustan Aeronautics (HAL) gained 7.42% in three trading sessions to its current market price of Rs 811.20 from a recent closing low of Rs 755.10 on Thursday, 7 November 2019.
Hindustan Aeronautics designs and develops a range of aircrafts that include fighter aircrafts, trainer aircrafts, transport aircrafts, military helicopters and civil helicopters.
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