HAL Approaches Technical Breakout: SEBI RA Krishna Pathak Sees Resistance Near ₹5,080

According to the analyst, the current price near ATP signals bullish short-term momentum.

SEBI-registered analyst Krishna Pathak noted that Hindustan Aeronautics (HAL) stock is eyeing a key technical breakout.

The stock closed 2.35% higher at ₹5,076.40 on Thursday, after rebounding from intra-day lows of ₹4,994.50. 

Pathak said the immediate resistance zone lies in the ₹5,050 to ₹5,080 band. 

The analyst stated that the current share price, being close to the average traded price (ATP), indicates short-term stability with a bullish undertone.

Meanwhile, Jefferies named Hindustan Aeronautics among its top investment picks in the engineering and construction sector, driven by robust order inflows and enhanced earnings visibility.

The brokerage firm sees strong upside potential for the stock, with a bull case target of ₹7,500, about 50% higher than current levels—even its base-case scenario factors in a 30% gain to the ₹6,475 level.

Jefferies added that HAL’s healthy order pipeline of nearly ₹1.7 lakh crore supports the company’s revenue growth forecast and that it expects quicker project approvals and the rollout of new defense tenders.

On Wednesday, HAL had also refuted media reports suggesting a breakdown in its negotiations with General Electric (GE) over the local production of GE414 engines.

Some reports had indicated that discussions between HAL and GE had stalled, prompting HAL to consider alternative engine suppliers for its Light Combat Aircraft (LCA) Mk2 programme.

Year-to-date, the stock has risen 21.43%.

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