HAL shares climb 4% today; here's what tech charts hint at

Shares of Hindustan Aeronautics Ltd (HAL) gained 3.56 per cent in Wednesday's trade, hitting a high of Rs 4,611.60, after the government reportedly approved the purchase of 97 LCA Tejas Mark 1A fighter jets for the Indian Air Force (IAF) at a cost of Rs 62,000 crore.

Kunal Kamble, Senior Technical Research Analyst at Bonanza, said, "HAL has been moving within a narrow consolidation band for the last four weeks, signalling a tussle between buyers and sellers. The overall defense sector is also in consolidation, which is keeping the stock range-bound. The Rs 4,650 level continues to act as a strong resistance, while on the downside, Rs 4,425 is holding as a key support zone. Momentum indicators are reflecting indecision. In summary, the current setup shows no clear directional trend, and it is advisable to wait for a decisive breakout on either side before taking fresh positions."

The scrip traded higher than the 5-day, 10-, 150-day and 200-day simple moving averages (SMAs) but lower than the 20-day, 30-, 50-day and 100-day SMAs. Its 14-day relative strength index (RSI) came at 44.66. A level below 30 is defined as oversold while a value above 70 is considered overbought.

As per BSE, the stock has a price-to-equity (P/E) ratio of 36.52 against a price-to-book (P/B) value of 9.70. Earnings per share (EPS) stood at 123.48 with a return on equity (RoE) of 26.57. According to Trendlyne data, HAL has a one-year beta of 1.3, indicating high volatility.

The counter saw heavy trading volume on BSE as around 1.37 lakh shares were last seen changing hands on BSE today, higher than the two-week average volume of 80,000 shares. Turnover on the counter came at Rs 62.27 crore, commanding a market capitalisation (m-cap) of Rs 3,02,219.42 crore.

HAL is a public sector undertaking (PSU) under the Defence Ministry. As of June 2025, the government held a 71.64 per cent stake in the defence PSU.