India’s defence boom in 2025: HAL, BEL among top 6 stocks analysts are bullish on! – Defensive Picks
Hindustan Aeronautics Ltd is a top recommendation from both firms. Elara Capital rated HAL stock “buy”, setting a target price of Rs 5,465, projecting Rs 1.2 lakh crore inflows by FY26, driven by defence contracts. Philip Capital initiated coverage on HAL with a “buy” rating, setting a target price of Rs 5,500, citing strong contract growth and an expanding order book.
