Vinay Rajani favours buy-on-dips in Nifty; bets on HAL, Karnataka Bank
Hindustan Aeronautics secured new business in a defence development.
· Business Standard Mkts
Vinay Rajani of HDFC Securities has recommended buy-on-dips in Nifty, as support has shifted higher to 22,580, followed by 22,300.
The analysis
Against that, the stock is -0.3% on the day at ₹4,853.70, and has returned +5.9% over three months. It sits 5% below its 52-week high. The defence & aerospace sector has moved -1.7% over the same period, so Hindustan Aeronautics is running 7.6 points ahead of its peers.
For Hindustan Aeronautics, the question is how much of this is already reflected in the price and how much re-rates the defence & aerospace peer set alongside it.
Why it matters
- Defence orders carry long execution tails and policy tailwinds, which the market values for their visibility.
Market context
- In focus: Hindustan Aeronautics (HAL) (HAL), in Defence & Aerospace.
- On the day, 1 of 2 are higher: HDFC Bank leads at +1.4% and Hindustan Aeronautics (HAL) trails at -0.3%.
- Over three months: Hindustan Aeronautics (HAL) +5.9% against Defence & Aerospace -1.7% (7.6 points ahead); HDFC Bank -8.1% against Banks -6.0% (2.1 points behind).
- At least 25% below the 52-week high: HDFC Bank (31%).
| Company | Price | Day | 1M | 3M | From 52-wk high | Volume vs 20-day | Market cap |
|---|---|---|---|---|---|---|---|
| Hindustan Aeronautics (HAL)HAL · Defence & Aerospace | ₹4,853.70 | -0.3% | +4.0% | +5.9% | -4.8% | 1.1× | — |
| HDFC BankHDFCBANK · Banks | ₹692.80 | +1.4% | -2.2% | -8.1% | -31.4% | 0.7× | — |
Defence & Aerospace
1M -7.5% · 3M -1.7%
Hindustan Aeronautics (HAL)
Banks
1M -3.4% · 3M -6.0%
HDFC Bank
Prices as of 30 Oct 2026, 16:10 IST. Sector moves are the average of the stocks we track in each sector.
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