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HAL Target Price Raised By Nirmal Bang After Q4 Results — Check Potential Upside, Key Triggers
Nirmal Bang maintains its Buy rating on HAL while revising its target price upward, implying a potential upside of 18%.
Top Gainers & Losers on May 15: HUDCO, Muthoot Finance, Voltas, IOCL, Vedanta, HAL, Aditya Infotech among top losers
On May 15, Indian markets declined, with Nifty down 0.18% and Sensex down 0.25%. Selling in financial and metal stocks offset IT sector gains. The rupee hit a record low of 96.5 against the dollar, influenced by foreign investor withdrawals and rising crude oil prices.
Nirmal Bang sees defence growth, flags cement margin pressure on fuel costs
Jyoti Gupta, Senior Research Analyst at Nirmal Bang Institutional Equities, remains positive on defence, citing strong order books and execution visibility despite rich valuations, with picks like HAL and BEL. On cement, she sees limited gas impact but rising pet coke and coal costs may pressure margins. Demand may moderate, though she prefers large caps like Ambuja and UltraTech while staying cautious on weaker regional players.
Top Stock Picks: L&T, HAL feature in CLSA's list for industrials; BHEL least preferred
The brokerage said that the government has been awarding multi-billion-dollar, multi-decade infrastructure contracts, which are expected to provide long-term revenue visibility for companies in the space.