Multibagger HAL share price gains 5% to 52-week high on Light combat helicopters tender
Hindustan Aeronautics (HAL) share price gained more than 5% in opening trades on Tuesday to 52 week highs following news flow pertaining to tenders being floated by the government for Light Combat Helicopter. Hindustan Aeronautics (HAL) share price having gained more than 170% in last one year already has given Multibagger returns to the investors.
The Hindustan Aeronautics (HAL) share price that opened at ₹5,460.10 , 5% higher than previous close of ₹5200.55, thereby gained further more to all time highs of ₹5,497.90 in the morning trades on the NSE. HAL in its release on the exchanges said that "Request for Proposal (RFP) has been issued by the Ministry of Defence for procurement of 156 Light Combat Helicopter.
Out of the total, 90 numbers are for Indian Army and 66 numbers for the Indian Airforce.The investor confidence already remains strong on HAL share price looking at the governments focus on "Make in India". Analysts too have maintained a positive outlook.
Analysts at Jefferies India Pvt Ltd in their recent report said that the sentiment remains upbeat on defence indigenisation and export focus continuing.The strong order book with visible pipeline also increase the likelihood that double-digit growth will continue for the next three to five years, as per analysts.Given the significant technology entry barriers in the industry, which are yet to be reflected in multiples as compared to other industrials, analysts at Jefferies think HAL is in a very favorable position.The target price for HAL share price as per Jefferies stands at ₹5,725 indicating more upside for stock trading at around ₹5480. HAL's order book already stood at around Rs94,000 crore, which is 3.2 times FY24 sales > The order book itself had
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