HAL Shares Rise 2% as Company Hands Over Aerospace Platforms

Hindustan Aeronautics Ltd (HAL) shares rose by 2% to Rs 4,889 on Monday as the company handed over three aerospace platforms to the Indian Air Force and Pawan Hans Limited. The platforms included the Dhruv-NG helicopter, LCA Tejas Trainer jets, and HTT-40 basic trainer aircraft.

Rajnath Singh, Defence Minister of India, praised HAL's work on the HTT-40, saying it marked a step towards ending India's dependence on foreign countries in this area. The HTT-40 is a tandem-seat, fully aerobatic basic trainer powered by a Honeywell turboprop engine.

Goldman Sachs has maintained a Buy rating on HAL with a target price of Rs 5,870, saying deliveries are picking up across fighter, trainer, and helicopter platforms. The brokerage noted that supply constraints are gradually easing, with the focus now shifting towards converting HAL's large order backlog into revenues.