New Delhi, Sept. 30 -- Jefferies stock recommendations for India: Hindustan Aeronautics Ltd (HAL) shares are among the multibagger stocks the Indian stock market has produced in the last few years. The defence stock has risen from around Rs.699 to Rs.4670 per share on the NSE in the last five years, clocking a rally of nearly 600%. In the early morning trade on Wednesday, HAL share price remained the bulls' favourite despite a muted start and touched an intraday high of Rs.4,695 per share on the NSE, logging an intraday gain of around 3%.

However, the global brokerage Jefferies remains bullish on the PSU stock. Jefferies believes that the fast-approaching Tejas Mk1 deliveries are a positive fundamental development for the defence PSU. Ta...