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ā¢ Prabhudas Lilladher has recommended a buy rating on Hindustan Aeronautics with a target price of Rs 2266.
ā¢ HAL reported a revenue growth of 9.5% YoY in Q2FY24, but EBITDA margin contracted due to a decline in gross margin.
ā¢ HAL is a long-term play on the growing strength and modernization of India's air defence, with a robust order book and potential for improved profitability.