HAL
HAL shares slump over 4% after Tejas fighter jet crash in Dubai
Mumbai/IBNS: Shares of Hindustan Aeronautics Limited (HAL) slipped more than 4% on Monday after a Tejas fighter jet crashed during the Dubai Airshow last week, according to media reports.
Wing Commander Namansh Syal of the Indian Air Force died in the crash, which occurred on November 21.
The IAF has ordered a Court of Inquiry to determine the cause of the accident.
This is the second Tejas crash in less than two years. In March 2024, an LCA Tejas went down in Rajasthan’s Jaisalmer — the first such incident since the aircraft’s maiden test flight in 2001. The pilot managed to eject safely in that incident.
Earlier this year, on September 25, 2025, the Ministry of Defence signed a contract with HAL to procure 97 LCA Mk-1A aircraft at a cost of over ₹62,370 crore (excluding taxes). Deliveries will begin in 2027–28 and span six years.
HAL’s stock fell to an intraday low of ₹4,405 on the National Stock Exchange.
The company recently posted strong quarterly results. HAL reported a consolidated net profit of ₹1,669 crore for Q2 FY26, up 10.5% year-on-year, while revenue rose 10.9% to ₹6,628.6 crore.
However, total expenses increased 17.3% during the quarter, dragging EBITDA margins down to 23.5%, which had already driven a 3% slide in the stock post-earnings.
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