India's Hindustan Aeronautics jumps as GE's engine deliveries ease execution concerns
BUZZ-India's Hindustan Aeronautics jumps as GE's engine deliveries ease execution concerns ** Indian state-owned aerospace and defence firm Hindustan Aeronautics' shares HIAE.NS rise as much as 3.27% in biggest intraday uptick in four weeks, to 4,921.2 rupees
** Rise follows GE Aerospace announcing shipment of three F-404 engines to HIAE, taking cumulative deliveries for Tejas Mk1A programme to ten engines, from seven
** "This marks a notable improvement in the pace of supplies, with engine availability having been one of the key bottlenecks delaying Tejas Mk1A deliveries," says Goldman Sachs
** "It reduces a key execution risk," adds Goldman Sachs, which reiterates "buy" on HIAE
** Average rating of 27 analysts tracking HIAE is "buy"; median price target is 5,670 rupees, data compiled by LSEG shows
** HIAE shares are up 11.6% YTD, while Nifty PSE index .NIFTYPSE has dropped 1.3% in the same period, exchange data shows
(Reporting by Bharath Rajeswaran in Bengaluru)
((bharath.rajeswaran@thomsonreuters.com; +91 9769003463;))
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