HAL share price: The share price of HAL has risen 3.77% in the past five trading sessions.(Image: HAL/website) Hindustan Aeronautics was in trouble after the Indian Air Force’s (IAF) chief called out HAl for delay in deliveries of orders. To that, HAL in its response said, GE Aerospace didn’t supply engines for the light combat aircraft Tejas. ICICI Securities on HAL: Upgrades to Buy from Hold However, two days back GE Aerospace delivered the first of 99 F404-IN20 engines to HAL for the light combat aircraft Tejas Mk 1A, which will help ramp up execution. Following this, ICICI Securities in a research note upgraded the rating to ‘Buy’ from ‘Hold’ on the stock. Plus, it raised the target price by 23% to Rs 5,000 from Rs 4,065. “We see this is a vital development that allays execution risk concerns” said ICICI Securities in a research note. ICICI Securities on HAL: New orders to leg up order book The recent order of 97 Tejas Mk 1A and 156 LCH Prachand will leg up the com...
Everything is available here to Read and Learn