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HAL clarifies on recent developments surrounding the Tejas jets; Here's what it saidShares of HAL had declined nearly 10% in two sessions earlier this month after reports had suggested that the company has not been included in the bidding process from the AMCA project, which is valued between nearly ₹1.5 lakh crore to ₹2 lakh crore.By CNBCTV18.com February 23, 2026, 3:04:19 PM IST (Updated)3 Min ReadShares of Hindustan Aeronautics Ltd. (HAL) clarified that there have been no recent crashes of the Tejas jets in response to media reports stating that the entire single seat fleet has been grounded by the Indian Air Force after the latest incident.

In an exchange filing, Hindustan Aeronautics said that there has been no reported crash of the LCA Tejas and that the event in question was a minor technical incident on the ground.

"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," HAL's filing said.

Earlier in the day, the stock fell as much as 4% on Monday, February 23, after a report from news agency PTI said that the Indian Air Force (IAF) has grounded the entire fleet of around 30 single-seat Tejas jets for an extensive technical scrutiny, citing people with knowledge of the matter.

The report states that a Tejas LCA of the IAF sustained major damage to its airframe after it overshot the runway at a frontline airbase after a suspect brake failure earlier this month.

According to the report, this was the third accident involving Tejas jets after March 2024 in Jaisalmer, and in November 2025, during the Dubai Air Show.

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

Shares of HAL had declined nearly 10% in two sessions earlier this month after reports had suggested that the company has not been included in the bidding process from the AMCA project, which is valued between nearly ₹1.5 lakh crore to ₹2 lakh crore.

In an interaction with CNBC-TV18, the management of HAL had mentioned that execution is not an issue for the company, adding that they have a total of 14 LCA Mk1A aircraft ready, with 24 being ready by the end of financial year 2026.

Managing Director and CEO DK Sunil also said that the narrative of HAL delaying project execution is not correct and the delays were due to engine delivery delays from GE.

Sunil also said that once the five ACMA prototypes have been developed, the final production order will still be open to HAL for bidding, and the company has not factored it in to their earnings estimates yet.

On February 5, Morgan Stanley had downgraded Hindustan Aeronautics to "underweight" from "equal-weight" earlier and also cut its price target sharply to ₹3,355 from ₹5,092, stating that execution risks remain due to high important dependence for HAL and that the downside risk emanates from rising private sector competition in defence.

While HAL has declined a comment on the story, an official statement from the Indian Air Force is awaited.

Shares of HAL are looking to recover from the lows of the day, currently trading 3.1% lower at ₹4,043.5. The stock is down 6% in the last one month.Continue ReadingFirst Published: Feb 23, 2026 11:46 AM ISTTagsHindustan AeronauticsHindustan Aeronautics Limited HALLCA Tejasshare market todayTejas aircraft