Tejas Aircraft Crash Sends HAL Shares Into Descent

The crash of a Tejas aircraft during the Dubai Air Show led to a significant drop in Hindustan Aeronautics Ltd's (HAL) shares. The crash claimed the life of IAF pilot Wing Commander Namansh Syal. HAL has faced two Tejas aircraft crashes in 20 months, impacting its stock performance.

Hindustan Aeronautics Ltd (HAL) witnessed a significant dip in its share value, closing over 3% lower. The downfall follows the crash of a Tejas aircraft during an aerial display at the Dubai Air Show, marking a tragic event for the Indian aerospace giant.

During trading hours on the BSE, HAL's stock plummeted 8.48% to Rs 4,205.25. Although it regained some ground, it still ended the day with a 3.31% decline at Rs 4,443. On the NSE, the shares hit a low of Rs 4,405 and concluded at Rs 4,445.10, down 3.26% from the previous session.

The tragic incident resulted in the death of Wing Commander Namansh Syal from Himachal Pradesh. This marks the second crash involving a Tejas aircraft developed by HAL in the past 20 months. The company expressed deep sorrow and extended condolences to the pilot's family.

(With inputs from agencies.)