Mutual Funds Commodities Research Tax Planning IPO Our Team Contact Us    
Google
Web www.equitybulls.com
IPO News

| More

IPO Note: Hindustan Aeronautics Ltd - SUBSCRIBE - Kotak

Posted On: 2018-03-15 23:45:44

- HAL has been conferred with the "Navratna" status by the GoI in June 2007 and is the largest DPSU in terms of value of production according to the MoD Annual Report 2016-2017. HAL was the 39th largest aerospace company in the world in terms of revenue (in USD million) in 2016 according to Flight International. It is engaged in the design, development, manufacture, repair, overhaul, upgrade and servicing of a wide range of products including, aircraft, helicopters, aero-engines, avionics, accessories and aerospace structures. Its operations are organised into five complexes, namely the Bangalore Complex, MiG Complex, Helicopter Complex, Accessories Complex, and Design Complex, which together include 20 production divisions and 11 research and design centres (“R&D Centres”) located across India. The company relies on indigenous research as well as enters into technology transfer and licence agreements to manufacture its products. In addition, HAL has entered into 13 commercial joint ventures to grow operations. HAL has a sustained track record of profitability and have paid dividends to stakeholders every year for over four decades. As of December 31, 2017, HAL's order book was Rs 684.6 bn, which generally includes products and services to be manufactured and delivered and excludes anticipated revenues from its joint ventures and subsidiaries.

- Valuations: At the higher end of the issue price of Rs 1240 per share, the stock is being offered at 15.8x FY17 earnings. On an EV/EBITDA basis, the stock is trading at 9.3x FY17 EBITDA. The stock is trading at a discount to listed peer like BEL (PE of 22x FY17 earnings and EV/EBITDA of 13.7x). However, BEL scores over HAL in terms of higher revenue visibility provided by its order book. However, in view of the reasonable valuations, prime position in the industry, robust order book, we advise investors to SUBSCRIBE to the issue.


Source: Equity Bulls

Click here to send ur comments or to feedback@equitybulls.com





Other Headlines:

Rajnish Wellness Ltd IPO to hit markets on June 25, 2018

Varroc Engineering Limited IPO to open for subscription on June 26, 2018

RITES Limited IPO receives overwhelming response from investors

Fine Organic Industries Limited IPO receives subscription of 8.99 times

Varroc Engineering Ltd - IPO Note - Angel Broking

RITES Ltd - IPO Note - Angel Broking

Fine Organic Industries Ltd - IPO Note - Angel Broking

Avana Logistek Ltd files DRHP with SEBI for IPO

IndoStar Capital Finance Ltd - IPO Note - Angel Broking

IndoStar Capital Finance Limited Offer opens on May 9, 2018

IPO Note - SoftTech Engineers Ltd - Arihant Capital Markets Ltd

Hindustan Aeronautics Ltd to list on March 28, 2018

Expectations high on listing of Bandhan Bank shares tomorrow

Mishra Dhatu Nigam Limited IPO receives subscription of 1.21 times

Lemon Tree Hotels Limited - IPO Note - Angel Broking

Mishra Dhatu Nigam Ltd - IPO Note - Sushil Finance

ICICI Securities Ltd - IPO Note - Sushil Finance

Lemon Tree Hotels Ltd - IPO Note - Sushil Finance

Mishra Dhatu Nigam Ltd - IPO Note - Angel Broking

Mishra Dhatu Nigam Ltd - IPO Note - Avoid - Hem Securities

ICICI Securities Ltd - IPO Note - SSJ Finance & Securities

Mishra Dhatu Nigam Ltd - IPO Note - Subscribe - SSJ Finance & Securities

IPO Note: MISHRA DHATU NIGAM LTD - NOT RATED - Kotak

IPO Note: ICICI Securities Ltd - SUBSCRIBE - Kotak

IPO: Mishra Dhatu Nigam Ltd - IIFL

Sandhar Technologies Limited - IPO Note - Angel Broking

Hindustan Aeronautics LTD - IPO Note - HEM Securities

ICICI Securities IPO to open for subscription on Mar 22, 2018

IPO Note: Sandhar Technologies Ltd - SUBSCRIBE - Kotak

Bandhan Bank Ltd - IPO Note - Subscribe - HEM Securities

HDFC Asset Management Company Ltd files DRHP for IPO

Bandhan Bank Ltd - IPO Note - Subscribe - SSJ Finance

Bandhan Bank Limited - IPO Note - Angel Broking

IPO of ICICI Securities Ltd to open on March 22, 2018

Bharat Dynamics Ltd - IPO Note - SUBSCRIBE - Kotak

Bharat Dynamics Ltd - SUBSCRIBE - IPO Report - HEM SECURITIES

Bandhan Bank Ltd - IPO NOTE - Arihant Capital Markets

Bharat Dynamics Ltd - SUBSCRIBE - IPO Note - SSJ Finance

Bharat Dynamics Ltd - IPO Note - Angel Broking

Sarveshwar Foods Limited - IPO NOTE - Arihant Capital Markets

H.G. Infra Engineering Ltd - AVOID - IPO Update - SSJ Finance

HG Infra Engineering - IPO Note - Angel Broking

IPO Note - Aster DM Healthcare Ltd - Avoid - By SSJ Finance & Securities

Galaxy Surfactants Ltd - IPO Note - SUBSCRIBE - SSJ Finance & Securities

Shalby Limited - IPO Note - Angel Broking

Future Supply Chain Solutions Ltd - IPO Note - Angel Broking

HDFC Asset Management Company Limited to file for IPO

Reliance General Insurance receives final observations from SEBI for IPO

Srei Equipment Finance Ltd files DRHP for IPO

Future Supply Chain Solutions Ltd IPO to open for subscription on Dec 6, 2017





Website Created & Maintained by : Chennai Scripts
West Mambalam, Chennai - 600 033,
Tamil Nadu, India

disclaimer copyright © 2005 - 2018