HAL shares rise nearly 2% after GE delivers 3 Tejas engines; Goldman Sachs reiterates Buy
AI Market Summary
GE Aerospace's delivery of three F404-IN20 engines in August raises cumulative Tejas Mk1A engine deliveries to 10, easing a key supply bottleneck that has delayed HAL's aircraft deliveries and increased execution risk. Goldman Sachs reiterated a Buy rating and cited evidence of assembled airframes, implying improved near-term operational visibility. The news is specific to HAL's programme logistics and has limited broader cross-asset impact.
Impact level
● Low
Affected assets
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AI Insight · NCCOGOLD2USD/USDTAI Insight
● Neutral
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Hindustan Aeronautics (HAL) shares rose nearly 2% in early trade on Friday after GE Aerospace delivered three F404-IN20 engines in August, taking total deliveries for the Tejas Mk1A programme to 10. Engine supply had been a key bottleneck for the project. Goldman Sachs maintained its Buy rating on HAL with a target price of 5,870 rupees. The Indian Air Force has ordered 180 LCA Mk1A jets from HAL, while GE is required to deliver 99 engines under a 2021 contract.
