HAL shares fall over 3% as Tejas fighter jet crashes during training sortie

HAL shares fall over 2% as Tejas fighter jet crashes during training sortie

• HAL shares fell over 2% after a Tejas jet overshot the runway
• IAF grounded all single-seat Tejas jets for technical checks
• Tejas jet deliveries delayed due to engine supply issues

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Shares of Hindustan Aeronautics Ltd declined over 3% a day after it was learnt that a Tejas light combat aircraft of the Indian Air Force (IAF) sustained major damage to its airframe after it overshot the runway at a frontline airbase following a suspected brake failure earlier this month.

The pilot of the aircraft ejected safely, sources told PTI on February 22.

It is learnt that the aircraft was returning to the base after carrying out a training sortie.

There was no official word from the IAF on the accident that took place on February 7.

At 3:25 pm on February 23, HAL shares were trading 3.4% lower at Rs 4,029 apiece. The PSU defence stock was among top losers in the Nifty India Defence index, which was trading 0.84% lower in late morning.

Following the incident, the IAF grounded the entire fleet of around 30 single-seat Tejas jets to carry out an extensive technical scrutiny, the report said.

Meanwhile, HAL told stock exchanges that it was a "minor technical incident on ground".

"There has been no reported crash of the LCA Tejas. The event in question was a minor technical incident on ground. LCA Tejas maintains one of the world’s best safety records among contemporary fighter aircraft. As a standard operating procedure, the issue is being analysed in depth and HAL is working closely with the Indian Air Force (IAF) for a speedy resolution," the defence PSU clarified.

It was the third accident involving the Tejas jets. The first one took place in March 2024, when a Tejas jet crashed near Jaisalmer.

The second incident took place in November 2025, when a Tejas jet crashed during an aerial display at the Dubai Airshow.

The latest accident comes at a time when Tejas maker Hindustan Aeronautics Ltd (HAL) has missed several deadlines to supply the Tejas Mark 1A variant of the aircraft to the IAF.

In February 2021, the defence ministry sealed a Rs 48,000 crore deal with HAL for the procurement of 83 Tejas Mk-1A jets for the IAF.

The delivery of the jets is facing delays primarily due to GE Aerospace missing several deadlines for the supply of its aero engines to power the jets.

The defence ministry in September last year sealed another deal worth Rs 62,370 crore with HAL to procure 97 Tejas MK-1A light combat aircraft for the IAF.

Tejas is a single-engine multi-role fighter aircraft capable of operating in high-threat air environments.

It has been designed to undertake air defence, maritime reconnaissance and strike roles.