HAL shares rise 3% as pact with GE may quicken production; defence index up 1.5% on Goldman Sachs' bullish call

HAL shares rise 3% as pact with GE may quicken production; defence index up 1.5% on Goldman Sachs' bullish call

Trade

• Watchlist
• Portfolio
• Message
• Set Alert

 

 

Choose Stock Exchange: BSE LIVE NSE LIVE

26 Aug, 2025 12:21

Volume

Todays L/H

More

×

Defence shares were buzzing in morning trade on November 10 with Dynamatic Technologies, Garden Reach Shipbuilders & Engineers Ltd leading the gains by rising 5% and 4.5%, respectively.

Part of the bullishness stems from a Goldman Sachs turning "overweight" on Indian equities.

The global brokerage has set a Nifty 50 target of 29,000 by December 2026, suggesting a potential upside of about 14% from Friday’s closing levels.

Goldman Sachs has identified financials, consumer staples, defence, and oil marketing companies (OMCs) as the key themes for investors to focus on over the next year.

At 10:45 am on November 10, Nifty India Defence index was trading 1.4% higher at 8,073. The other gainers

Meanwhile, shares of state-owned warplane maker Hindustan Aeronautics Ltd on NSE rose 3% to Rs 4,759 apiece as the PSU firm signed agreement to buy 113 engines from General Electric GE.

HAL's delivery of Tejas fighter jets to Centre was delayed due to slow engine deliveries by GE.

In September, HAL signed an agreement with government for additional 97 home-grown fighters of the Tejas Mk-1A variety worth Rs 62,370 crore.

The stock is rated "buy" on average by 20 analysts covering it and median price target is Rs 5,800 rupees, showed data compiled by LSEG.

So far in 2025, the stock rose 13%.

Last month, Goldman Sachs had turned bullish on India's aerospace, defense sector and prefers private players over their public sector (PSU) peers as the country ramps up its defence export target to Rs 50,000 crore by fiscal 2028-29 (FY29) as compared to Rs 23,600 crore last year.

Among individual stocks, Solar Industries, Bharat Electronics, Data Patterns and PTC Industries are Goldman Sachs’ top buy ideas.

With inputs from Reuters.