India's Hindustan Aeronautics jumps as GE's engine deliveries ease execution concerns
GE•Analyst views and share performance
The average rating of 27 analysts tracking HIAE is "buy"; the median price target is 5,670 rupees, data compiled by LSEG shows.
HIAE shares are up 11.6% year-to-date, while the Nifty PSE index .NIFTYPSE has dropped 1.3% in the same period, exchange data shows.
Goldman says execution risk has eased
"This marks a notable improvement in the pace of supplies, with engine availability having been one of the key bottlenecks delaying Tejas Mk1A deliveries," Goldman Sachs said.
"It reduces a key execution risk," Goldman Sachs added, reiterating "buy" on HIAE.
Shares rise on improved engine supply pace
Indian state-owned aerospace and defence firm Hindustan Aeronautics' shares HIAE.NS rose as much as 3.27% in their biggest intraday uptick in four weeks, to 4,921.2 rupees.
The rise followed GE Aerospace announcing shipment of three F-404 engines to HIAE, taking cumulative deliveries for the Tejas Mk1A programme to ten engines, from seven.
