Hindustan Aeronautics surges 17% in two days, hits fresh 52-week high

ICRA has assigned a long term rating of double A and a short-term rating of A one plus for the company's bank facilities with stable outlook.

Shares of Hindustan Aeronautics (HAL) climbed 6 per cent to hit a 52-week high of Rs 863 on the BSE on Tuesday. The stock has surged 17 per cent in two days after ICRA assigned a long-term rating of double A and  a short-term rating of A one plus for the company's bank facilities with stable outlook. The government-owned entity's stock surpassed its previous high of Rs 828, hit on November 20, 2019.

“The assigned rating draws comfort from the majority ownership held by the Government of India (GoI) in HAL as well as HAL’s strategic position as a