HAL Secures ₹62,400 Cr Order for 97 Tejas Mk1A Jets; Stock Rating Retained BUY
Hindustan Aeronautics Ltd (HAL) has received a follow-on order worth ₹62,400 crore from the Ministry of Defence (MoD) for 97 Light Combat Aircraft (LCA) Tejas Mk1A, in addition to the earlier order of 83 units placed in January 2021. With GE resuming normal deliveries of F404 engines after resolving supply chain issues, aircraft deliveries are expected to accelerate from 3QFY26. A related $1 billion order for 113 new F404 engines is also likely to be finalized in the coming weeks. Brokerage estimates factor in a scale-up in HAL’s execution, and analysts have maintained a BUY rating with an unchanged target price of ₹5,800, based on the average DCF and 32x Sep’27E earnings. #HAL #DefenceStocks #TejasLCA #MakeInIndia #StockMarket #Aerospace