Hindustan Aeronautics rallies 5%, hits new high on strong business outlook

In the year 2022-23, defense budgets and revenues for defense contractors are expected to remain largely stable or increase, as military programs continue to be critical to national defense

Shares of Hindustan Aeronautics (HAL) hit a new high of Rs 2,094 on the BSE as the stock rallied 5 per cent in Monday’s intra-day trade due to a strong outlook. The stock of the state-owned aerospace & defense company surpassed its previous high Rs 2,075 touched on August 2, 2022.

In the past one month, HAL has outperformed the market by surging 20 per cent, as compared to a 7.6 per cent rise in the S&P BSE Sensex. In the last six months, it has rallied 52 per cent, as against a 1.4 per cent gain in the benchmark