Domestic brokerage firms including Anand Rathi Share & Stock Brokers and Motilal Oswal Financial Services (MOFSL) continue to remain positive on select defence counters.
B&K Securities this week initiated coverage on Hindustan Aeronautics with a 'Buy' and a target price of Rs 5,610. India’s defence-aerospace landscape is at an inflection point, it said.
An analyst from YES Securities said that Mazagon Dock is showing bearish signals on the weekly timeframe, indicating a downtrend and the stock is currently positioned for a breakdown.
In January this year, HAL unveiled a full-scale prototype of the U-CAV, marking significant progress for the programme.
Shares of Hindustan Aeronautics cracked nearly 9 per cent at the opening tick on Monday after a Tejas fighter jet crashed during a performance during the Dubai Air Show 2025 on Friday.
HAL shares target price: Brokerage firms continued to remain positive on Hindustan Aeronautics shares and see up to 33 per cent upside in the state-run defence major.
The state-run defence major has finalised a deal with General Electric, USA, for 113 F404-GE-IN20 engines. The engine deliveries are scheduled between 2027 and 2032.
Vertex said that HAL continues to deliver strong performance with an order book exceeding Rs 1.89 lakh crore, driven by Tejas, helicopters, and export opportunities.
MOFSL expects revenue growth of 15 per cent YoY for BEL, led by the healthy execution of the order book of Rs 74,900 crore. It said revenue for HAL may grow 13 per cent YoY.
HAL being a monopoly play in defence aerospace is seen as beneficiary of the ordering momentum. With warfare systems now witnessing increase in electronic components, BEL is expected to benefit materially.
Antique Stock Broking expects HAL to deliver 8 and 14 Tejas Mk-1A aircraft in FY26 and FY27, respectively, with a gradual ramp-up in GE's engine supply.





