HAL Shares Drop 8% After Exclusion from Next-Gen Fighter Jet Program; Clarification Issued

• Hindustan Aeronautics Limited (HAL) shares fell 8% after it was not selected for the Advanced Multirole Combat Aircraft (AMCA) program.
• HAL stated that a response from DRDO is awaited regarding its exclusion from the next-generation fighter jet project.
• Three private companies, Tata Advanced Systems, L&T, and Bharat Forge, have been selected for the AMCA program.
• Companies with large outstanding order books, like HAL (₹2.3 lakh crore), were reportedly not selected for the program.
• The AMCA program has an allocation of ₹15,000 crore for prototypes, with jet deliveries expected from 2035.