HAL correction a ‘wait and watch’; select midcap IT names emerging despite AI disruption: Mayuresh Joshi

Speaking to ET Now, Joshi said HAL’s massive order book provides strong revenue visibility over the next few years, but recent news flow around key tenders and clarifications has temporarily unsettled sentiment.HAL: Strong order book, gradual margin storyHAL currently trades at around 30 times trailing earnings, a valuation Joshi considers expensive in the near term.While revenue growth could compound at a healthy pace due to execution of its large defence order pipeline, margin expansion may not match tha ...