Defence Stock: Big Russia update! Rs 2.3 lakh crore order book — Brokerage sees Rs 400 upside in this Maharatna PSU

Defence Stock To Buy: Russia has expressed readiness to support India’s upcoming fighter aircraft requirements and has offered unrestricted technology transfer for the Su-57 fifth-generation stealth fighter, according to ANI report.

This assurance comes after several high-level interactions between both countries, including External Affairs Minister S. Jaishankar’s meeting with Russian President Vladimir Putin.

The developments also come ahead of Putin’s scheduled visit to India next month.

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HAL Share Price Today

Hindustan Aeronautics Ltd (HAL) is trading at Rs 4,751, down 1.20 per cent for the day. Despite the short-term dip, the stock’s long-term performance remains exceptional. Over five years, HAL has surged 1127 per cent, while gaining 123 per cent in two years and 17 per cent over the past year.

In the short term, the stock has seen some pressure—down 5.28 per cent in six months and 2.64 per cent over the last month—although it has inched up 0.10 per cent in the past week.

HAL currently trades between a 52-week high of Rs 5,166 and a 52-week low of Rs 3,045.95, with a market capitalisation of Rs 3.18 lakh crore, and is part of the BSE 100 index.

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HAL Q2FY26 Results

HAL reported a steady performance in the September quarter (Q2FY26). The defence PSU posted a 10 per cent year-on-year rise in consolidated net profit, reaching Rs 1,669 crore, compared to Rs 1,510 crore last year. Revenue from operations grew 11 per cent YoY to Rs 6,629 crore, up from Rs 5,976 crore in Q2FY25.

Sequential performance was even stronger. Net profit surged 21 per cent QoQ from Rs 1,384 crore in Q1FY26, and revenue jumped 38 per cent QoQ from Rs 4,819 crore. The company reported total income of Rs 7,516 crore, including Rs 888 crore in other income, compared with Rs 5,566 crore in Q1FY26 and Rs 6,519 crore in Q2FY25.

Total expenses rose to Rs 5,297 crore, up 17 per cent YoY and 42 per cent QoQ, mainly due to higher material, employee, and finance costs. Profit before tax (PBT) reached Rs 2,227 crore, compared with Rs 1,854 crore in Q1FY26 and Rs 2,023 crore in Q2FY25.

HAL Share Price Target 2025

Global brokerage UBS has maintained a Neutral rating on HAL. With the stock currently at Rs 4,807, the brokerage has set a target price of Rs 5,200. This reflects a price difference of Rs 393 and indicates an upside potential of 8.2 per cent.

UBS noted that HAL continues to face execution challenges and that near-term triggers remain limited. The first-half performance was weaker than expected, pointing to a slower FY26 outlook.

As a result, UBS cut its FY26–FY28 manufacturing estimates and trimmed FY26/FY27 earnings estimates by 4 per cent and 6 per cent, respectively, due to a slower ramp-up in manufacturing and moderate growth in MRO operations.

HAL Order Book

Despite near-term challenges, the long-term outlook for HAL remains robust. According to Nuvama, the company holds an order book of Rs 2.3 lakh crore, which is nearly seven times its FY25 sales, providing strong revenue visibility for the coming years.