HAL share price hits lifetime high ahead of Q4 results 2024. Do you own?

Hindustan Aeronautics Ltd (HAL), a leading Indian aerospace and defence company, saw its shares extend an uptrend for yet another session as bulls continue to weigh behind the stock. Hindustan Aeronautics Ltd, which is primarily engaged in the design, development, manufacture, repair, and overhaul of aircraft, helicopters, and their engines, is a key player in the Indian defence industry. HAL share price today opened upside at ₹4215 apiece on NSE and touched an intraday high of ₹4,269 per share during Thursday deals. While climbing to this intraday high, HAL shares also made a new lifetime high. According to stock market experts, HAL shares are rising ahead of the Q4 results today as the market is experiencing robust HAL Q4 results in 2024. They said the company is expected to benefit from India's government's focus on the defence and aerospace segment. They predicted benefits for the HAL shareholders in the medium to long-term perspective as a substitution in the defence space is expected to trickle down in the company in the medium to long term.

HAL Q4 results today

Commenting on the rise in HAL share price, Avinash Gorakshkar, Head of Research at Profitmart Securities, highlighted the company's potential, stating, "HAL is poised to declare its Q4 results today, and the market is anticipating robust numbers. The company's focus on the defence and aerospace segment, coupled with the expected benefits from defence substitution, make HAL an ideal portfolio stock for the medium to long term."

HAL share price target

With a bullish outlook on the chart pattern, Sumeet Bagadia, Executive Director at Choice Broking, predicts a further rise in HAL share price. The stock has gained strong support at ₹4150 apiece level and is expected to soon reach the ₹4400 and ₹4500 apiece mark. This projection instills confidence in HAL shareholders, who are advised to hold the scrip for the ₹4400 and ₹4500 per share target, maintaining a stop loss at ₹4150.

For new investors considering HAL shares, Bagadia offers a strategic approach. He advises a 'buy-on-dips' strategy, suggesting purchasing the stock when it dips below ₹4150. This approach is particularly beneficial for those aiming for a short-term target of ₹4500, providing a sense of security and guidance for potential investors.

Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.