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Hindustan Motors' share price saw a whopping 20% rally. It is trading at ₹30.12 as of 11.40 am on December 23, 2024, on the BSE. This is due to the fantastic one-year performance of the stock which had scaled from ₹16.9 to ₹30.1, marking an increase of 78.2%.
Hindustan Motors has delivered excellent financial results for both the September quarter and FY24:
1. Net profit jumped 640% year-on-year to ₹49 million, compared to a loss of ₹9 million in the same period last year.
2. Net sales rose 100% to ₹8 million, as against zero sales in Q2 FY23.
1. Net profit jumped 56,400.4% to ₹254 million, a huge jump from zero profit in FY23.
2. Revenue more than doubled to ₹32 million from ₹0 million in FY23.
3. The company's Price-to-Earnings (P/E) ratio is 15.6, based on its rolling 12-month earnings.
The BSE AUTO index is now 51,153, with a year-to-date gain of 25%. In the index today, among its gainer list, there is Ashok Leyland with 1.2% and Escorts with a rise of 0.7%. However, in decline, the index included Hero Motocorp, down by 1%, while Eicher Motors slips at 0.3%.
Notable gainers in the BSE AUTO index over the last 12 months include Mahindra & Mahindra, up 70.8%, followed by Cummins India and Motherson Sumi, up by 68.3% and 62.4%, respectively.
The BSE Sensex has risen 0.6% today to 78,475. Key contributors to the index's gain are HDFC Bank and JSW Steel, which have moved up 1.7%. Similarly, the NSE Nifty rose 0.6% to hit 23,729 with JSW Steel and Shriram Transport leading the charge. In the last year, the Sensex has increased by 9.9% or 7,037 points.
Hindustan Motors' strong financial growth and impressive stock performance have it stand out in the midcap andauto sector stock segment. It has a strong resurgence in profitability. Hindustan Motors' shares are showing promising market activity, with the recommendation leaning towards ‘Buying’.
