HAL Stock Surges To All-Time High Ahead Of Avionics Expo 2023
The stock rose as much as 7.88% during the day to Rs 2,754 apiece on the NSE.
![<div class="paragraphs"><p>A Su-30 MKI. (Source: Hindustan Aeronautics website) </p></div>](https://media.assettype.com/bloombergquint%2F2023-09%2F993c2cd3-b992-450e-ba1a-d2692f9babe5%2FSukhoi_HAL_website.png?auto=format%2Ccompress&w=200)
Shares of Hindustan Aeronautics Ltd. surged nearly 8% to a record high on Wednesday, a day ahead of the Avionics Expo 2023.
HAL will be demonstrating its contribution towards achieving self-reliance in avionics. It will unveil a comprehensive range of avionics products, which it designed and developed, at the expo in New Delhi, according to a PTI report.
![HAL Stock Surges To All-Time High Ahead Of Avionics Expo 2023](https://media.assettype.com/bloombergquint%2F2023-12%2F0dca7dcd-a515-4158-9fa2-710e5ea8e56d%2FHAL.png?auto=format%2Ccompress)
HAL's stock rose as much as 7.88% during the day to Rs 2,754 apiece on the NSE. It pared gains to trade 5.76% higher at Rs 2,700 apiece compared to a 0.43% advance in the benchmark Nifty 50 as of 2.23 p.m.
It has risen 113.18% on a year-to-date basis. The total traded volume so far in the day stood at 3.9 times its 30-day average. The relative strength index was at 90.96, which implied the share was overbought.
Twelve out of 13 analysts tracking HAL have a 'buy' rating on the stock, while one suggests 'sell', according to Bloomberg data. The average of 12-month analyst price targets implies a potential downside of 10.5%.