India's HAL says Tejas crash an isolated incident; shares fall
Shares of Hindustan Aeronautics HIAE.NS fall 2.1% to 4,498.90 rupees
Co says Tejas fighter jet crash in Dubai last week was an isolated occurrence caused by exceptional circumstances
No affect on business operations, financials or future deliveries - HAL
Shares fall as much as 4.1% on the day
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
Adds that Tejas has had only one incident in more than 20 years and remains HAL's flagship with 180 units on order
Twenty analysts have a "buy" rating on avg; median PT is 5,800 rupees - data compiled by LSEG
YTD, HIAE up 7.6%
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