Buy recommendations for HAL, Patanjali Foods, and HDFC AMC from IIFL
New Delhi: On April 18, 2024, India Infoline (IIFL) advised purchasing shares in HDFC AMC, Patanjali Foods, and Hindustan Aeronautics Limited (HAL). For every stock, the brokerage business disclosed the buy call price, stop call, and two target values.
Target for HAL Share Price
Stock market aficionados were advised by IIFL to purchase shares of HAL at a price of Rs 3,722, with a target price of Rs 3,908 and Rs 2815. It recommended that investors keep their stop loss at Rs 3,629,00. On April 16, 2024, HAL shares ended at Rs 3,721.90 per equity share. Over the last year, HAL has been a multibagger stock. Over fifteen hundred and ninety percent of the Defence PSU’s investors have profited in the previous six months and a year.
Hindustan Aeronautics Limited reported a 7% increase in revenue at Rs 6061.3 crore and a 9% increase in net profit for the third quarter of FY24. The Indian Army, Navy, and Air Force, along with Airbus and Boeing, are among the company’s clientele.
Stock to Purchase: Patanjali Foods IIFL advised purchasing shares of the company at a price of Rs 1,409 each, with target prices of Rs 1,522 and Rs 1,465 respectively. The brokerage house had a Rs 1,353 stop loss in place. On April 16, 2024, Patanjali Foods’ shares closed at Rs 1,407 per equity share. The share price of Patanjali Foods has increased by 4.7 percent in a year and by 6% in the last six months.
During Q3FY24, Patanjali Foods reported a 19.3% YoY decline in net profit. Operational revenue dropped by 0.2% to Rs 7,911 crore.
Suggestions for stocks: HDFC AMC
HDFC AMC has a target price of Rs 3,950 and can be purchased for Rs 3,729 at this time. The company requested that investors have a stop loss of Rs 3,618. On April 16, 2024, HDFC AMC shares ended at Rs 3,734 per equity share. The share price of Patanjali Foods has risen by more than 100% in a year and by more than 30% in the last six months.
For the third quarter of FY 23–24, HDFC AMC reported a 32% year-over-year increase in profit after tax (PAT) at Rs 488 crore, while consolidated income from operations was Rs 671 crore.
