HAL Shares Plunge 6% as Stealth Fighter Jet Bid Fails; Loses ₹18,000 Crore M-Cap

• Hindustan Aeronautics Ltd. (HAL) shares dropped over 6% on Wednesday, February 4, after reports indicated its exclusion from India's fifth-generation stealth fighter jet (AMCA) development.
• This marks the first time HAL will not be involved in a major military project, according to sources cited by Hindustan Times.
• The stock's fall resulted in a loss of nearly ₹18,000 crore in market capitalization.
• Seven companies bid for the AMCA program, with three advancing to the next stage; the contract is expected to be awarded to the lowest bidder within three months.
• HAL stated it cannot comment on the news as official communication from DRDO is pending, and it is a highly leveraged stock in the margin trading facility book.