I would guess that it's pot metal in which case you can probably find a decent replatable handle from one of the Hudson vendors.

Perhaps an expert will jump in here and say whether it's pot metal or not.

Yes It's a casting and very thin in that area. If you find a 1950 Handle You will find it is exactly the same with the exception of the light. Cut the hole out. A small cut off tool and a little patience will yield a 48-49. The glass lens will slip into it and the screw holes are there as well. The 50 handle is prone to the same breakage.So be careful with it.