HAL shares plummet 9% after Tejas fighter jet crash at Dubai air show. Should you buy the dip?
Shares of Hindustan Aeronautics Ltd (HAL) declined sharply on Monday, November 24, falling 8.5% to an intraday low of Rs 4,205.25 on the BSE, after a fatal crash involving a Tejas fighter aircraft during a demonstration at the Dubai Air Show.
The aircraft is manufactured by HAL as part of India’s indigenous light combat aircraft programme.
Expert Take
Following the crash, here is what analysts are recommending:Nilesh Jain, Head Vice President, Equity Research, Technical and Derivatives at Centrum Broking, said, “Yes, it may have a sentimental impact. It’s like adding fuel into the fire, coz the structure has already turned negative with a sell crossover on MACD and now this news will have some negative impact.”
“It…
