India's HAL falls as Tejas jet crash weighs on sentiment
Shares of Hindustan Aeronautics HIAE.NS fall 3.4% to 4,440.10 rupees, set for their steepest decline since April 7, if losses hold
HAL's Tejas fighter jet crashed during an aerial display at the Dubai Airshow on Friday and the Indian Air Force is setting up a court of inquiry to investigate the cause
Citing experts, CLSA ("Outperform", PT: 5,436 rupees) says possible causes include General Electric's GE.N engine thrust loss, aerodynamic stall effects, or human error
Sees volatility as a chance to accumulate due to its $54 billion pipeline as fighter jet deliveries and GE deal clarity
Adds that Tejas has had only one incident in more than 20 years and remains HAL's flagship with 180 units on order
GE ready to support investigation - statement
Twenty analysts have a "buy" rating on avg; median PT is 5,800 rupees - data compiled by LSEG
YTD, HIAE up 7.3%
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