Shares of Hindustan Aeronautics Limited (HAL) rose nearly 2% on Monday (October 14) after receiving 'Maharatna' status. However, at the close of trading, the company's stock rose 1.12% to Rs. closed at 4,496.10.
HAL shares have returned 23.89% to its investors in the last 6 months and 129.01% in one year. If we talk about this year, since January 1 till now the company has given 59.08% return. The market cap of the company has also crossed 3 lakh crore rupees.
HAL becomes India's 14th 'Maharatna' company Government of India has given 'Maharatna' status to PSU company HAL 2 days ago on Saturday (October 12). With this, HAL has become the 14th company in India to get the 'Maharatna' status. The Department of Public Enterprises gave this information by sharing a post on social media platform X.
- National Thermal Power Corporation (NTPC)
- Oil and Natural Gas Corporation (ONGC)
- Steel Authority of India Limited (SAIL)
- Bharat Heavy Electricals Limited (BHEL)
- Indian Oil Corporation Limited (IOCL)
- Hindustan Petroleum Corporation Limited (HPCL)
- Coal India Limited (CIL)
- GAIL INDIA LIMITED
- Bharat Petroleum Corporation Limited (BPCL)
- POWER GRID CORPORATION OF INDIA LIMITED
- Power Finance Corporation (PFC)
- Rural Electrification Corporation (REC) Limited
- Oil India Limited (OIL)
- Hindustan Aeronautics Limited (HAL)
DPE informed that Finance Minister Nirmala Sitharaman has approved the upgrade of Indian PSU company HAL to 14th Maharatna CPSE. The proposal was earlier recommended by the Inter Ministerial Committee (IMC) headed by the Finance Secretary and the Apex Committee headed by the Cabinet Secretary.
The annual turnover of the company is Rs. 28,162 crores HAL is a CPSE (Central Public Sector Enterprise) of the Department of Defense Production (DoDP). The annual turnover of the company is Rs. 28,162 crore and the net profit in FY 2023-24 is Rs. 7,595 crore has been.
What will HAL benefit after getting Maharatna status? After getting Maharatna status, HAL will have autonomy, high investment capacity and strategic flexibility. Now HAL can invest up to ₹5,000 crore or 15% of its net worth in a project without any government approval.
Like other Maharatna companies, HAL will have the freedom to make mergers, acquisitions and strategic investments both domestically and internationally.
Image Credit: (Divya-Bhaskar): Images/graphics belong to (Divya-Bhaskar).
