HAL Stock Jumps After Record Order Win – Analysts Predict More Upside, Share Price Could Reach Rs 5,440!

Hindustan Aeronautics Ltd. (HAL) is on track to extend its winning streak for the fourth session on Tuesday, April 1, after securing a Rs 62,777 crore contract from the Defence Ministry. Analysts remain bullish, with some predicting the stock could hit Rs 5,440.

Global brokerage UBS upgraded HAL’s price target, citing strong order flow and growth potential. Other firms, including CLSA and JP Morgan, also see long-term upside. HAL’s latest deal adds 53% to its order book, boosting visibility. With strong government backing and rapid execution, the stock remains a key player in India’s ‘Make in India’ defence push.

UBS Sees 30% Upside, Raises Target to ₹5,440

Global brokerage UBS has a ‘Buy’ rating on HAL and raised its price target to Rs 5,440 per share, a 30% upside from Friday’s close.

UBS called the order for 156 Prachand helicopters a positive surprise for the market. It also expects HAL’s profits to rise over the next three years, thanks to the upcoming LCA Mark 1A Tejas deliveries. The firm sees the government’s faster defence procurement process as another key growth driver.

HAL Stock Price

HAL’s share price has been rallying since the morning, moving closer to the rate analysts predicted. At 10:08 AM, the stock was trading in the green at Rs 4,341.50, up +164.05 (3.93%) from its previous price. The momentum suggests continued strength in HAL’s upward trend.

CLSA: Biggest Order Ever, Price Target ₹4,662

CLSA has an ‘Outperform’ rating on HAL, setting a price target of Rs 4,662 per share. It highlighted that HAL’s Rs 62,777 crore contract is its biggest-ever order. The Modi 3.0 government is accelerating its ‘Defence Make in India’ initiative, pushing the Light Combat Helicopter (LCH) Prachand into mass production. This order will significantly boost HAL’s growth and enhance India’s self-reliance in defence manufacturing. With 65% indigenous content, the deal strengthens the domestic defence sector, creating more opportunities for local suppliers and improving the country’s aerospace capabilities. Analysts see long-term upside for HAL’s stock.

JP Morgan: HAL Still Undervalued, Target ₹4,958

JP Morgan has an ‘Overweight’ rating on HAL with a target of Rs 4,958. The firm said the new order boosts HAL’s long-term growth prospects. Despite a strong rally in March, JP Morgan believes HAL remains reasonably valued at 33x FY26E and 29x FY27E earnings.

Massive Order Book Fuels Growth

In FY25, HAL has already secured ₹56,000 crore in orders. With its latest Rs 62,777 crore contract, the total order flow for the year exceeds Rs 1.2 lakh crore.

HAL’s order book now stands at Rs 1.9 lakh crore, with a book-to-bill ratio of 5x. This strong pipeline ensures long-term revenue visibility and positions HAL for sustained growth. With rising defence contracts and government backing, the company remains a key player in India’s Make in India aerospace push.

Analysts Bullish on HAL

Out of 16 analysts covering HAL, 15 recommend a ‘Buy’, while only one suggests ‘Sell.’ The stock rose 0.5% on Friday, closing at Rs 4,179.9. It was the top performer on the Nifty PSE index in March, gaining 35%—its best monthly return in five years.

With strong government support and a record-breaking order book, HAL is well-positioned for long-term growth. Analysts remain bullish, expecting further upside as India’s defence sector expansion drives demand for HAL’s indigenous aerospace solutions.

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