HAL share price: PSU defence stock at all-time high. Do you own?

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HAL share price: After ushering in 2023, shares of Hindustan Aeronautics Ltd (HAL) have remained in uptrend throughout this year. In YTD time, HAL share price has delivered over 70 per cent return to its shareholders. However, it seems that the defence PSU stock still has some steam left.

HAL share price today opened upside at ₹2,154.90 per share on NSE and went on to hit intraday high of ₹2,178 per share, which turned out a new all-time high for the state-owned defence stock. As mentioned above, HAL share price has been in bull trend during YTD time. The PSU defence stock has risen from around ₹1,270 to ₹2,178 per share levels in YTD time, delivering over 70 per cent return to its long term positional investors.

Also Read: TCS buyback: TCS share price in focus as share trades ex-buyback today In last six months, HAL share price has risen from around ₹1,500 to ₹2,178 per share levels, logging around 45 per cent rise in this time. In last one month, this PSU stock has surged from near ₹1,810 to ₹2,178 apiece levels, registering around 20 per cent rise in this time. However, some stock market analysts are still bullish on HAL shares.

Expecting further upside in HAL share price, Sumeet Bagadia, Executive Director at Choice Broking said, "HAL share price is still looking positive on chart pattern. HAL share price today has strong support placed at ₹2,100 levels and it is facing hurdle at ₹2,300 apiece levels. One can hold the scrip for ₹2,300 per share target in near term maintaining stop loss at ₹2,100 levels.