Hindustan Aeronautics at 52-week-high after announcing it assembled gas turbines for INS Vikrant

The company said that these gas turbines were put together and tested at Bangalore's special HAL facility.

“HAL carried out critical activities towards readiness of IAC for basin trials. HAL's team was actively involved in integrating the power plant to the IAC and was onboard IAC for all sea trials without foreign OEM representatives contributing substantially to the Make-in-India concept,” Hindustan Aeronautics said.

The company’s robust performance and business outlook have fuelled investors' interest in the stock. HAL has benefited from the Indian government's efforts to increase defence indigenisation. In the year so far, the stock has gained over 95 percent.

The company's last financial year earnings report notified that the current order book stands at Rs 82,000 crore. The defence company also expects to clock 6-7 percent revenue growth for FY23.

“We project the same amount of increase in our revenues, 6-7 percent and beyond that, we intend to increase our revenues because of new projects coming into play. So, FY24-25 onwards, it will definitely increase,” R Madhavan, chairman and managing director, HAL, told CNBC-TV18.

Meanwhile, brokerage firm Morgan Stanley has an 'overweight' call on shares of HAL with a revised target price of Rs 3,024.