Shares of Hindustan Aeronautics Ltd (HAL) fell 4.28% to ₹3,493.15 on Tuesday following critical remarks from Indian Air Force (IAF) Chief Marshal A P Singh regarding HAL’s delivery performance on the Tejas Mk1A fighter jet project. The IAF chief expressed a lack of confidence in HAL’s ability to meet deadlines, citing delays in aircraft deliveries and a lack of urgency in project execution.
HAL’s stock decline follows concerns over its ability to deliver 16 LCA Mk1A jets in 2025, with a total order of 83 jets expected by 2029. The project had already faced delays, with the first delivery initially planned for March 2024.
HAL has a market capitalization of ₹2.34 trillion, with a P/E ratio of 27.42 and a dividend yield of 1.00%. The stock traded in the day range of ₹3,490 – ₹3,641.95, while its 52-week range stands at ₹2,824.85 – ₹5,674.75.
“I can only tell you our requirements and what our worries are. You have to alleviate those worries and make us more confident. At the moment, I am just not confident of HAL, which is a very, very wrong thing to happen,” Air Chief Marshal Singh told the top brass of the company.
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