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Hindustan Aeronautics shares gain as Jefferies targets ₹6,800

Jefferies said fast-approaching Tejas Mk1A deliveries could act as a re-rating trigger for HAL.

Reported · Written up by our desk · Asia

Hindustan Aeronautics Ltd (HAL) shares climbed after Jefferies reiterated a bullish view of the defence PSU, with the brokerage pointing to upcoming Tejas Mk1A deliveries as a positive fundamental development. In early Wednesday trading, the stock touched an intraday high of ₹4,695 on the NSE, logging an intraday gain of around 3%.

Jefferies has placed a buy tag on HAL and set a target price of ₹6,800 per share. The report also highlighted HAL’s past performance, saying the shares have risen from around ₹699 to ₹4,670 over the past five years, delivering around a 600% return to long-term shareholders.

The brokerage’s stance is tied to what it described as Tejas Mk1 deliveries being fast-approaching, framing them as a potential catalyst for a valuation re-rating in HAL shares. The article notes HAL’s stock remained in focus despite a muted start to trade.

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