HAL shares recover 3% from day's low as PSU defence firm clarifies 5 LCA MK1A aircraft 'ready for delivery'

HAL shares see profit booking in trade.

• HAL shares recovered after clarifying five LCA Mk1A jets are ready for delivery.
• Stock fell 6 percent early but pared losses after HAL's delivery assurance.
• HAL received five engines from GE and expects to meet delivery guidance.

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HAL shares on Wednesday recovered nearly 3 per cent from the day’s low after the state-run defence major clarified that five Light Combat Aircraft (LCA) Mk1A jets are ready for delivery.

In early trade, the stock of Hindustan Aeronautics Ltd (HAL) fell 6.29 percent to an intraday low of Rs 3,952 on the NSE. The shares later pared losses and were trading at Rs 4,056.50 around 12.45 pm, down 3.81 percent.

The stock has been under pressure for the past two sessions and has declined over 9 percent during the period. On Wednesday, it opened with a gap-down of 2.28 percent.

The recovery followed a clarification issued by HAL on February 5, stating that five LCA Mk1A aircraft are fully ready for delivery and meet the specifications agreed under the contract.

"HAL wishes to clarify the status of LCA MK1A deliveries to the customer for all stakeholders. HAL confirms that five aircraft are fully ready for delivery, incorporating major contracted capabilities in accordance with the agreed specifications," the company said in a post on X.

The clarification came after an ET report said the delivery of the aircraft could miss another deadline and may be pushed beyond May.

HAL says 5 LCA MK1A aircraft 'ready for delivery' after report claims delay

HAL said it is in active discussions with the Indian Air Force to deliver the aircraft at the earliest and added that the supply position from engine maker GE is positive.

HAL has received five engines from GE as on date. The supply position from GE is positive, and the future delivery outlook aligns with HAL’s delivery plans. HAL assures that it will meet the guidance projected for the current financial year," it said.

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