CLSA has reaffirmed its ‘Outperform’ rating on Hindustan Aeronautics Limited (HAL), setting a target price of ₹4,662 per share, indicating a moderate upside from the current market price of ₹4,179.90. The brokerage noted that HAL has secured its largest-ever order worth US$7.3 billion (₹62,700 crore) for Light Combat Helicopters (LCH), marking a significant milestone as the government under Modi 3.0 transitions Defence Make in India (DMII) into full-scale production.
According to CLSA, the massive order—coming after successful trial deliveries—boosts HAL’s order book by 53%, significantly enhancing the company’s long-term growth visibility over the next decade. The development reflects a strong endorsement of HAL’s execution capabilities and strategic role in India’s defence manufacturing ecosystem.
The brokerage added that HAL deserves to trade at a premium compared to global aerospace peers due to its Make in India pipeline and strong domestic market access. This order further reinforces its position as the backbone of India’s defence production capabilities.
Disclaimer: This article is for informational purposes only and does not constitute investment advice. Please consult a qualified financial advisor before making any investment decisions.
