An additional nine aircraft have already been built and flown, the company said. HAL noted that upon receipt of engines from GE, these aircraft will be made ready for delivery.
HAL shares fell 6.28 per cent to hit a low of Rs 3,952. The scrip had fallen 5.7 per cent in the previous session. Morgan Stanley has reportedly cut its target price to Rs 3,355 on the stock.
In defence, Hindustan Aeronautics Ltd (HAL), Bharat Dynamics Ltd (BEL), PTC Industries Ltd and Raymond Ltd were identified as key gainers.
PL Capital has believes that the Union Budget 2026-27 builds on previous years by emphasising infrastructure, defence production, and social welfare.
Defence Budget rose from Rs 5.73 lakh crore in FY23 to an estimated Rs 7.85 lakh crore in FY27. Capital outlay on defence services also picked up, increasing from Rs 1.43 lakh crore to Rs 2.19 lakh crore during the period, helping Indian defence stocks
Stocks including ITC, Vedanta, Tata Motors, Paytm, Hindustan Aeronautics, Swiggy, REC, Colgate Palmolive, HindPetro, Hudco, NPTC and more will be in the spotlight on Friday, January 30.
Anand Rathi Share & Stock Brokers expects the FY27 Union Budget to target a 4.2% fiscal deficit, with intraday market stability.
MOFSL prefers defence players such as Bharat Electronics Ltd (BEL), Bharat Dynamics Ltd (BDL) and Hindustan Aeronautics Ltd (HAL). Among cement and building material stocks, it likes UltraTech Cement.
An analyst from YES Securities said that Mazagon Dock has staged a bearish breakdown, signaling intensified selling pressure and a shift toward a 'lower high, lower low' price structure.
Bharat Electronics Ltd (BEL) fell 2.26 per cent to Rs 399.75 on BSE. Bharat Dynamics Ltd (BDL) declined 2.06 per cent at Rs 1,421.90. Hindustan Aeronautics Ltd (HAL) dropped 1.43 per cent to Rs 4,289.25.
In the run-up to the important economic event, the Indian stock market is ready for a volatile ride on the back of persistent FIIs flows, Trump tariff concerns and geopolitical uncertainty.
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