** Brokerage Antique sees 2027 as an inflection point for HAL HIAE.NS as deliveries of Tejas MK-1A jets to start from first half of 2027, with GE's GE.N engine deliveries ramping up

** HAL ordered 99 engines from GE in 2021; As per brokerage, five have been supplied, sixth expected in April

** Antique expects supply issues to ease out in second half of 2026 and sees sharp improvement in Tejas MK-1A delivery in 2027

** HAL's stock down 0.6% at 3,727.70 rupees on the day

** Brokerage retains "buy" rating with PT 5,427 rupees

** Of 21 analysts tracking stock, 17 rate buy or higher, while four rate hold or lower, according to LSEG-compiled data

** HIAE trades at a forward 12-month price-to-earnings ration of 26.20, compared with the industry median of 32.45 - LSEG

** HAL's stock down 14% YTD, while Indian defence stocks .NIFTYINDDEFENCE down 0.3%; benchmark Nifty 50 index .NSEI down 12.4%