Citi keeps buy rating on HAL, sees 28% upside
In short
Citi kept its Buy rating on HAL and set a ₹6,175 target price, which suggests about 28% upside.
The broker said HAL may get support from engines, helicopters and repairs, even as delayed Tejas Mk1A deliveries have hurt the stock lately.
What the reporting says
Citi has maintained its Buy rating on Hindustan Aeronautics Ltd and kept a ₹6,175 target price, implying about 28% upside. Mint Markets said the brokerage pointed to higher inventory and support from engines, helicopters and repairs, while delayed Tejas Mk1A deliveries weighed on the stock. HAL shares have weakened recently, but Citi kept its positive view on the defence PSU.
Why it matters
Citi’s call keeps a positive stance on Hindustan Aeronautics Ltd after recent weakness in the stock. The brokerage’s ₹6,175 target implies roughly 28% upside and is based on higher inventory plus support from engines, helicopters and repairs. Delayed Tejas Mk1A deliveries were cited as a drag, making the note relevant for HAL shareholders and the broader defence PSU space.