PSU Alert! Hindustan Aeronautics shares hit fresh 52-week high - Check HAL price target

HAL Share Price Target NSE, BSE: Shares of Hindustan Aeronautics Ltd. (HAL) hit another 52-week high as benchmark Sensex surged past the 70,000 level for the first time in early trade on Monday. The counter jumped around 2.93 per cent to touch the level of Rs 2813.30 on the BSE. The scrip had closed at rs 2733.15 in the last trading session. 

HAL, a Navaratna status public sector undertaking (PSU) under the Ministry of Defence, Government of India, commands a market cap of Rs 1,86,173 crore. The counter has been gaining for the last two days and has risen 3.51 per cent during this period. 

Hindustan Aeronautics Share Price Target

According to Sumeet Bagadia of Choice Broking, one should hold the stocks of HAL. Bagadia said that HAL can hit the target of Rs 3,000 once it breaches the level of Rs 2,800.

Hindustan Aeronautics shares have gained over 120 per cent so far this year. The stock has rallied more than 300 per cent in two years as against a 19.05 per cent jump in Sensex.

Meanwhile, HAL is reportedly very close to finalising deals with four countries. The total worth of the deal could be around Rs 70,000. According to Zee Business, sources said that HAL may export fighter jets to four countries - Argentina, Egypt, Nigeria and the Philippines. 

Meanwhile, the 30-share Sensex touched its all-time high of 70,048.90 points soon after opening and later marginally shed its gains to 69,958.13 points, which is a rise of 132.53 points or 0.19 per cent compared to Friday's closing level. Key indices had touched their new lifetime highs on Friday after the Reserve Bank of India (RBI) raised the growth forecast for the current fiscal and kept policy rates unchanged.

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