Hindustan Aeronautics Ltd. (HAL) shares rose as much as 5% on Monday, snapping a two-day fall. The stock saw its biggest intraday gain since April 1.
The stock has advanced 9.5% in the past 12 months but remains down 22% from its all-time high.
In the latest sector developments, Nuvama Institutional Equities initiated coverage on HAL, Bharat Dynamics Ltd., and Data Patterns (India) Ltd. on April 21, recommending a ‘buy' on these defence sector stocks. Nuvama said India's defence players are picking up momentum, providing opportunities to engage with the sector.
According to Bloomberg data, 19 analysts have a ‘buy' rating on HAL, while one has a ‘sell' rating. The analysts' consensus 12-month price target is Rs 4,997.50, implying a potential upside of 14% from Friday's closing price.
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