New Delhi: Shares of Hindustan Aeronautics Ltd (HAL) declined significantly on Monday after a Tejas Light Combat Aircraft crashed during an aerial display at the Dubai Air Show last week, triggering widespread speculation over possible implications for the company’s export pipeline and ongoing defence programmes.
HAL Share price today
HAL shares slipped as much as 8.48% to ₹4,205.25 on the BSE in early trade. The stock later recovered part of the intraday fall and was seen trading at ₹4,433, down 3.53% from Friday’s close. On the NSE, the stock hit the day’s low of ₹4,405, down 4.13%.
The fall came after the fatal crash of a Tejas aircraft performing at the Dubai Air Show. HAL on Friday said it was “deeply saddened” by the loss of life of the “courageous IAF pilot”, identified as Wing Commander Namansh Syal.
The crash marks the second HAL-manufactured aircraft accident in 20 months. In March last year, another aircraft went down in Rajasthan’s Jaisalmer; the pilot had ejected safely.
HAL Calls Incident ‘Isolated’, Rejects Fears of Export Impact
Amid heavy market speculation and social media commentary, HAL issued a detailed statement to calm nerves. In its exchange filing, the aerospace major said:
“We would like to bring to your attention that the recent incident during the aerial display at the Dubai Air Show is an isolated occurrence arising out of exceptional circumstances.”
The company further assured investors and stakeholders: “There is no impact on the Company’s business operations, financial performance or its future deliveries. The Company is extending its full support and cooperation to the agencies conducting the investigation.”
HAL emphasised that it will continue to update stakeholders on any material developments, firmly dismissing suggestions that the Dubai accident could derail Tejas Mk1A export plans or ongoing defence contracts.
