HAL Shares Dip After Tejas Aircraft Crash: A Blow to Aviation Sector

Shares of Hindustan Aeronautics Ltd fell significantly following a Tejas aircraft crash at the Dubai Air Show. The stock initially tumbled over 8% before recovering partially. The crash resulted in the death of IAF pilot Wing Commander Namansh Syal. HAL expressed deep condolences for the tragic event.

Shares of Hindustan Aeronautics Ltd (HAL) saw a sharp decline of over 8% during the morning session on Monday. The drop follows the crash of a Tejas aircraft during an aerial display at the Dubai Air Show last week.

The stock initially sank 8.48% to Rs 4,205.25 on the BSE. However, it later recovered some losses, trading at Rs 4,433, which is still down by 3.53% compared to the previous close.

Officials from HAL expressed deep sorrow over the death of Wing Commander Namansh Syal during the incident. This marks the second incident involving an HAL-manufactured aircraft in the last 20 months.

(With inputs from agencies.)