Hal Statement Tejas Crash Dubai Airshow Stock Impact
The Tejas plane accident that took place during the Dubai Air Show has shocked every Indian. While performing tricks in the sky, this aircraft suddenly turned into a ball of fire, not only snatched away a brave wing commander of the Indian Air Force from us, but also increased the heartbeats of the investors of the country’s leading defense company Hindustan Aeronautics Limited (HAL). But now HAL has broken its silence on this and made it clear what impact this incident will have on their functioning.
Why did this accident happen?
On Monday, HAL officially presented its stand. The company took place in Dubai crash It has been termed as “an isolated incident under extraordinary circumstances”. He says that this was not a normal technical failure, but it happened due to some special and rare reasons. Which is also being investigated.
Also read- How much money does it cost to make the Tejas fighter that crashed in the Dubai Air Show?
The magnitude of the accident can be gauged from the fact that a massive fire broke out in the plane, due to which there was chaos. The most tragic aspect was that Wing Commander Namansh Syal, a courageous pilot of the Indian Air Force, attained martyrdom in this accident. Expressing deep condolences on the demise of the pilot, HAL said, “We are deeply saddened by the loss of this brave pilot and our deepest sympathies are with the bereaved family.”
Will there be a break on HAL’s business?
The biggest question after this accident was whether this would spoil HAL’s orders and future plans? The company has dismissed this fear while reassuring investors and stakeholders. According to HAL statement,
- There will be no impact on the business operations of the company.
- Financial performance will not be affected.
- Delivery of future aircraft will be on time only.
The company has also made it clear that they are giving full cooperation to the investigating agencies so that the bottom of the accident can be reached. They will keep everyone informed about any major information in the coming times also.
Shares fell within minutes
As soon as the news of the crash came from Dubai, its direct impact was seen on Dalal Street. Heavy selling was seen in HAL shares in early trade on Monday and share price up 8% Fell down. Panic was clearly visible among investors.
However, after the company’s statement and position became clear, the market calmed down a bit. After recovery from lower levels, shares were seen trading around 3-4% lower on BSE and NSE. This fall shows how sensitive the market was about this news, but HAL’s confidence has definitely reduced the loss to some extent.
Disclaimer: This article is for information only and should not be considered as investment advice in any way. TV9 Bharatvarsha advises its readers and viewers to consult their financial advisors before taking any money-related decisions.