Citi and Goldman Sachs Retain Buy Ratings on HAL Amid Improving Execution

Hindustan Aeronautics Ltd (HAL) shares rose by 1.33% to ₹4,864 in early trade on Monday as brokerages Citi and Goldman Sachs maintained their positive ratings.

Citi retained its Buy rating with a target price of ₹6,175, highlighting improving execution across fighter aircraft, trainer aircraft, and helicopters as supply constraints begin to ease.

The recent deliveries of Tejas trainers, HTT-40 aircraft, and Dhruv NG helicopters provide evidence of activity across several programmes, but the LCA Mk-1A ramp-up remains an important factor for HAL's near-term execution trajectory.