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This PSU defense stock has zoomed 123% since Nov; UBS sees over 25% upside

Since September 28, 2023, the market price of HAL has appreciated by 115% after the stock split in the ratio of 1:1.

Hindustan Aeronautics

Deepak Korgaonkar Mumbai

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Shares of Hindustan Aeronautics Ltd (HAL) hit a new high of Rs 4,064, as they rallied 4 per cent on the BSE in Tuesday’s intra-day trade after the brokerage firm UBS raise price target of the stock from Rs 3,600 to Rs 5,200 led by earnings upgrade, roll forward and increased target PE, from 32x to 40x. Analysts believes this is justified by HAL's better order book scale up, lower competition and greater optionality in exports.

The stock of state-owned defence company has surpassed its previous high of Rs 4,045.20. Since November, the market price of HAL has been more

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First Published: May 14 2024 | 11:31 AM IST

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