Why has the stock of Hindustan Aeronautics been rallying so hard of late?

Hindustan Aeronautics, the government owned listed aerospace company, scaled an all-time high of Rs1,785 recently. The stock has gained 18% in last one week. For Q4FY22, HAL had reported solid numbers with 90% growth in net profits on strong order offtake. HAL is one of the major beneficiaries of the Make in India program of the government that pushed a lot of defence orders to be farmed out to Indian companies. HAL was obviously the first choice. HAL has also been attracting a lot of institutional interest.