Overview
- HAL fell as much as 8.5–9% in early BSE trade on Monday, touching about ₹4,205 and valuing the company near ₹2.81 lakh crore.
- An Indian Air Force pilot died when a Tejas light combat aircraft crashed during a flying display at Dubai’s Al Maktoum International Airport on November 21.
- The Indian Air Force has convened a court of inquiry to determine the exact cause of the accident.
- Choice Broking and Elara Capital reiterated BUY ratings with targets of ₹5,570 and ₹5,680, saying the display-flight crash does not indicate a structural issue with the Tejas program.
- Brokerages flagged possible short-term sentiment and export concerns but highlighted HAL’s strong order visibility, execution focus, and ongoing Tejas Mk1A production ramp, noting recent Q2 FY26 profit and revenue growth.