India's Hindustan Aeronautics gains after ICICI Securities upgrades to 'buy'

Hindustan Aeronautics

27/03/2025 08:23

** Shares of Hindustan Aeronautics HIAE.NS rise as much as 2% to 4,209 rupees

** ICICI Securities says GE Aerospace delivering first of 99 engines to HIAE for Tejas Light Combat aircraft "allays concerns on the execution front"

** Upgrades stock to "Buy" from "Add", raises TP to 5,000 rupees from 4,065 rupees

** Brokerage expects revenue growth of 25–28% through to FY27, based on the order book estimated at more than 1.3 trln rupees ($15.2 bln)

** Brokerage sees execution of Tejas Mk-1A to benefit other companies involved in the supply chain such as Bharat Electronics BAJE.NS, Astra Microwave ASTM.NS and Dynamatic Technologies DYNM.NS

** HIAE stock up ~35% so far this month, set to snap three straight monthly fall

($1 = 85.7890 Indian rupees)

 (Reporting by Ashish Chandra in Bengaluru)

 ((ashish.chandra@thomsonreuters.com (+91 7982114624))