HAL hits record high as firm's board to consider stock split on June 27 | Watch here
HAL share price NSE, HAL stock split: The public sector aerospace and defence company's stock gained ahead of the scheduled board meeting later this month, on June 27, to consider the stock split proposals.
HAL share price NSE, HAL stock split: Shares of Hindustan Aeronautics on Friday surged 3 per cent, touching an all-time high of Rs 3,785 on the NSE. The public sector aerospace and defence company's stock gained ahead of the scheduled board meeting later this month, on June 27, to consider the stock split proposals. The scrip opened at Rs 3,609, up from the previous close of Rs 3,632. HAL shares finished at Rs 3,743.45, up by 6.12 per cent or Rs 216.05 on NSE.
"A meeting of the Board of Directors of the company will be held on June 27 (Tuesday) to consider a proposal for the sub-division of equity shares of the company," the PSU company's regulatory filing on Thursday said. A stock split of equity shares is one of the corporate actions where a company divides or subdivides its shares in a specified ratio that leads to a split of face value and increases the number of shares.
Hindustan Aeronautics shares have yielded multi-bagger returns to investors. HAL has delivered a return of around 300 per cent in the last five years, while the stock has nearly doubled in the last year (June 9, 2022). The Bengaluru-headquartered HAL was established in December 1940. HAL is one of the oldest and largest aerospace and defence manufacturers in the world.
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