Mumbai8 hours ago
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After getting the status of 'Maharatna', the shares of Hindustan Aeronautics Limited (HAL) saw a rise of about 2% on Monday (14 October). However, at the close of trading, the company's shares closed at Rs 4,496.10 with a rise of 1.12%.
HAL shares have given returns of 23.89% to its investors in the last 6 months and 129.01% in one year. If we talk about this year only i.e. from January 1 till now, the company has given a return of 59.08%. The market cap of the company has also crossed Rs 3 lakh crore.
HAL becomes India's 14th 'Maharatna' company The Government of India has given 'Maharatna' status to PSU company HAL 2 days ago on Saturday (12 October). With this, HAL has become the 14th company in India to achieve 'Maharatna' status. The Department of Public Enterprises gave this information by sharing a post on social media platform X.
DPE had informed that Finance Minister Nirmala Sitharaman has approved the upgrade of Indian PSU company HAL to the 14th Maharatna CPSE. This proposal was earlier recommended by the Inter Ministerial Committee (IMC) headed by the Finance Secretary and the Apex Committee headed by the Cabinet Secretary.
Annual turnover of the company is Rs 28,162 crore. HAL is a CPSE (Central Public Sector Enterprises) of the Department of Defense Production (DoDP). The annual turnover of the company has been Rs 28,162 crore and the net profit in the financial year 2023-24 has been Rs 7,595 crore.
What are the benefits of HAL after getting Maharatna status? After getting Maharatna status, HAL will have autonomy, higher investment capability 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 any other Maharatna company, HAL will have the freedom to make mergers, acquisitions and strategic investments at domestic and international levels.
