Shares of state-owned aerospace and defence firm Hindustan Aeronautics were 7.4% on the NSE and surged to a record Rs 2,592.1 in Monday’s trade on good order visibility and a solid outlook.

The stock has an order book of around Rs 84,800 crore as of June 2022. In April-June, order inflows surged 39% to Rs 6,270 crore. The estimated cost of the new order is Rs 45,000 crore, and the company has an MRO order pipeline of around Rs 1.2 lakh crore in the next 3-4 years.

At 1.56 pm, the stock was up 6.55% at Rs 2,591.5 from its previous close of Rs 2,432.15. Last year, the stock rose 82%, while its year-to-date (YTD) return topped 107%, according to the data.

According to Trendlyne, the top target for HAL is Rs 3,024. Of the five analysts covering the stock, four have a strong buy rating and one has a buy rating.

Founded in 1963, Hindustan Aeronautics is a large company operating in the defence sector. The company’s primary product/revenue segments include service sales, engineered products, spare parts and others, development projects, and miscellaneous and other operating income for March 31, 2022.

For the quarter that ended on June 30, 2022, the company reported consolidated total revenue of Rs 3,814.1 crore, down 68.38% from the previous quarter’s total income of Rs 12,061.79 crore. The company reported a net profit after tax of Rs 607.36 crore in the latest quarter.