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.
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
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.
An analyst from Anand Rathi said that HAL has displayed signs of trend reversal after breaking above a falling trendline with RSI reflecting improving momentum.
Domestic brokerage firms including Anand Rathi Share & Stock Brokers and Motilal Oswal Financial Services (MOFSL) continue to remain positive on select defence counters.
B&K Securities this week initiated coverage on Hindustan Aeronautics with a 'Buy' and a target price of Rs 5,610. India’s defence-aerospace landscape is at an inflection point, it said.
An analyst from YES Securities said that Mazagon Dock is showing bearish signals on the weekly timeframe, indicating a downtrend and the stock is currently positioned for a breakdown.
In January this year, HAL unveiled a full-scale prototype of the U-CAV, marking significant progress for the programme.
Shares of Hindustan Aeronautics cracked nearly 9 per cent at the opening tick on Monday after a Tejas fighter jet crashed during a performance during the Dubai Air Show 2025 on Friday.
HAL shares target price: Brokerage firms continued to remain positive on Hindustan Aeronautics shares and see up to 33 per cent upside in the state-run defence major.
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