HAL shares dropped 8% after a Tejas jet crash in Dubai killed pilot Wing Commander Namansh Syal, triggering a court inquiry and investor concern.

Hindustan Aeronautics Limited (HAL) shares fell over 8% on November 24, 2025, after a Tejas fighter jet crashed during a Dubai Air Show demonstration, killing pilot Wing Commander Namansh Syal. The Indian Air Force launched a court of inquiry into the incident, the second Tejas accident in about 20 months. While analysts say the crash does not indicate systemic issues with the program, it triggered investor anxiety, leading to short-term volatility. The stock, already at high valuation, faces potential export sentiment setbacks until more transparency emerges.