Shares of Hindustan Aeronautics Ltd (HAL) tumbled over 8% during the morning trade on Monday following the crash of a Tejas aircraft, manufactured by the aerospace behemoth, during an aerial display at the Dubai Air Show last week.
Hindustan Aeronautics Shares Tumble Over 8% on BSE
The stock tanked 8.48% to ₹4,205.25 on the BSE. Later, shares of the firm recovered some of the early lost ground and were trading at ₹4,433, down 3.53% from the previous close
Hindustan Aeronautics Limited HAL
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The stock tanked 8.48% to ₹4,205.25 on the BSE. Later, shares of the firm recovered some of the early lost ground and were trading at ₹4,433, down 3.53% from the previous close.
At the NSE, the stock dropped 4.13% to hit the day's low of ₹4,405.
HAL on Friday said it was deeply saddened by the loss of life of the "courageous IAF pilot" during the aerial display at the Dubai Air Show.
The pilot has been identified as Wing Commander Namansh Syal.
It was the second time in 20 months that the aircraft manufactured by HAL was involved in a crash. The earlier accident occurred in Jaisalmer in Rajasthan in March last year, but the pilot ejected safely.
"HAL is deeply saddened by the loss of the courageous IAF pilot during the aerial display at the Dubai Air Show. HAL expresses its heartfelt condolences to the bereaved family.
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