01 Apr , 2025 By : Debdeep Gupta
Hindustan Aeronautics (HAL) share price extended gains on fourth consecutive session, rising 6 percent in the early trade on April 1 after the company received contracts worth Rs 62,700 crore from Defence Ministry.
At 09:16am, Hindustan Aeronautics was quoting at Rs 4,433.05, up Rs 257.05, or 6.16 percent, on the BSE.
Ministry of defence on March 28 signed two contracts with the company for supply of 156 light combat helicopters (LCH), Prachand, along with training and other associated equipment worth Rs 62,700 crore.
The first contract is for supply of 66 LCHs to the Indian Air Force (IAF) and second is for supply of 90 LCHs to the Indian Army.
The Ministry of Defence also signed a contract with Metrea Management for wet leasing of one flight refuelling aircraft, to provide air to air refuelling training to pilots of Indian Air Force and India Navy.
Foreign research house UBS has maintained ‘buy’ rating on the stock and raised the target price to Rs 5,440
According to research house, the order for 156 Prachand helicopters is a positive surprise and LCA Mark1A Tejas deliveries will boost earnings over 3 years.
Broking firm ICICI Securities in its report dated March 26 upgraded company's rating to 'buy' from 'add' and also revised target price to Rs 5,000 from Rs 4,065.
The share touched a 52-week high of Rs 5,675.00 and a 52-week low of Rs 3,045.95 on 09 July, 2024 and 03 March, 2025, respectively.
Currently, the stock is trading 21.88 percent below its 52-week high and 45.54 percent above its 52-week low.
Market capitalisation stands at Rs 296,471.30 crore.
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