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DefenceHigh impactPre-market

CLSA sees 35% upside for HAL, BEL, L&T on defence capex

pre-market1 source ↓written by the desknot a recommendation

in capital expenditure
₹2.19 lakh cr
with a target
16.8% upside
target price
₹5,481

India’s defence sector is poised for growth with ₹2.19 lakh cr in capital expenditure. CLSA highlights Hindustan Aeronautics, Bharat Electronics, and Larsen & Toubro as key beneficiaries. HAL is projected to see a 16.8% upside with a target price of ₹5,481, driven by increased domestic procurement and production capabilities.

Not investment advice. For informational purposes only.

OI Charts is not a SEBI-registered investment adviser or research analyst. This bulletin was written by the OI Charts desk from the public sources listed here. It is commentary on market conditions, not a basis for any investment decision and not a recommendation to buy or sell any security. Prices as of 19 Sept 2026, 07:09 IST.

Sourcesnews.google.com

Read inENहिंతెमराதગુ

The market after the news

HAL closed +0.5% on the day of the news, from ₹4,800.30 to ₹4,826.00; Nifty +0.3% over the same session; futures OI +1.1%.

Bulletin at 07:09 IST on 19 Sept 2026. Every change is measured from ₹4,800.30, the last close before it, on 18 Sept. Nifty 50 is measured over the same sessions.

  • HAL close ₹
  • Nifty 50, rebased to the close before the news
  • close before the news
  • above it
  • below it
  • futures OI, lots
HAL closes around the bulletin against the close before the news, with Nifty 50 rebased to it432648005275axis spans 22%before the news · 18 Sept4800Nifty 50HALbulletinD0+1+3+511 Sept23 Sept1 OctFutures open interest, lotspeak 43,000Reference close ₹4,800.30. 14 sessions from 11 Sept to 1 Oct; the price axis spans 22 percent.
price axis fixed at 4 × the 14-session true range around the close before the news · values printed at each marked session
Closes after the news against the close before it, with Nifty 50 over the same span
SessionClose ₹Change %Nifty %
Before18 Sept₹4,800.30basebase
On the day21 Sept₹4,826.00▲ +0.5%▲ +0.3%+0.3 pp difference
+1 session22 Sept₹4,800.000.0%▼ −0.1%+0.1 pp difference
+3 sessions24 Sept₹4,774.20▼ −0.5%▼ −1.2%+0.7 pp difference
+5 sessions28 Sept₹4,738.00▼ −1.3%▼ −2.4%+1.1 pp difference
Gap at the open, % · ₹
▲ +1.0%+49.92 on 21 Sept
Day's range, % · ₹
1.3%≈ 64 high to low
Volume on the day
0.98×the 20-session average
Futures OI on the day
▲ +1.1%+400 lots · long build-up · price +0.5%
Futures OI open, lots
39,00021 Sept · 29 Sept expiry
Futures premium, ₹
+11.60+0.2% to spot
Puts per call, by OI
0.51from 0.61 the session before
Max pain
4,900from 4,900 the session before

Source NSE UDiFF bhavcopy · HAL on the desk →

Thread · HALAll HAL bulletins →

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