Latest news with #AvicChengduAircraft
Time of India
15-05-2025
- Business
- Time of India
cochin shipyard: Chinese jet maker Avic Chengdu Aircraft crashes 12% in 3 days. Blame it on Modi?
Modi's airbase visit rattles sentiment ADVERTISEMENT Broader Chinese defence stocks under pressure Indian defence stocks rally in contrast ADVERTISEMENT ADVERTISEMENT Shares of Avic Chengdu Aircraft , the Chinese defence manufacturer behind the JF-17 fighter jets used by Pakistan, have slumped 12% over three trading sessions as tensions flared following India's Operation Sindoor and a strong-worded rebuttal by Prime Minister Narendra Modi rejecting Pakistan's claims of having struck Indian military jet maker's stock plunged as much as 6.7% on Thursday to 84.34 yuan in Shanghai, adding to earlier losses. The selloff came amid broader weakness in Chinese defence stocks , with the Hang Seng China A Aerospace & Defence Index dropping 1.7% on Thursday — its third consecutive session of rout accelerated after PM Modi visited the Indian Air Force 's Adampur airbase in Punjab on Tuesday, standing in front of the Russian-made S-400 air defence system — a visual counter to Pakistan's false claims that it had been destroyed using Chinese-origin JF-17 fighter jets.'Pakistan claimed it damaged our S-400 and BrahMos missile bases with JF-17 jets, which is completely false,' said Colonel Sofiya Qureshi. 'It also spread misinformation about damage to Indian airfields in Sirsa, Jammu, Pathankot, Bhatinda, Nalia, and Bhuj — all of which is untrue.'The Indian government, through the Ministry of External Affairs and the Press Information Bureau, dismissed Pakistan's version of events as 'a fabricated attempt to save face.'Alongside Avic Chengdu Aircraft, shares of other major Chinese defence companies also declined on Thursday. China Aerospace Times Electronics, Bright Laser Technologies, North Industries Group, China Spacesat, and AVIC Aircraft fell between 1.5% and 4.2%.The latest drop in Chinese defence stocks comes on the heels of India's successful Operation Sindoor, a military campaign that reportedly demonstrated the effectiveness of domestically produced systems like the Akash surface-to-air sentiment for Chinese defence stocks, which had earlier been boosted by the prospect of rising Chinese arms sales to Pakistan, turned sour after India and Pakistan agreed to a ceasefire and New Delhi forcefully dismantled what it called a 'coordinated disinformation campaign.'Meanwhile, Indian defence stocks surged in response to the events. Cochin Shipyard jumped 6.8% to Rs 1,814.90 on Thursday, while Paras Defence gained 5%, Mazagon Dock Shipbuilders rose 4.5%, and Bharat Dynamics advanced 1.8%. Hindustan Aeronautics climbed over 2%, and Zen Technologies hit its 5% upper circuit for the second day in a row.'The successful performance of Made-in-India defence systems against Chinese and other platforms used by Pakistan is likely to boost long-term demand for indigenous defence equipment,' said Ashwini Shami, EVP & Senior Portfolio Manager at OmniScience Capital. 'It also showcased India's capability for remote warfare and the integration of systems from multiple sources — underlining not just domestic defence production, but also our ability to make diverse technologies work together.': Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
Economic Times
15-05-2025
- Business
- Economic Times
Chinese jet maker Avic Chengdu Aircraft crashes 12% in 3 days. Blame it on Modi?
Modi's airbase visit rattles sentiment Live Events Broader Chinese defence stocks under pressure Indian defence stocks rally in contrast (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel Shares of Avic Chengdu Aircraft , the Chinese defence manufacturer behind the JF-17 fighter jets used by Pakistan, have slumped 12% over three trading sessions as tensions flared following India's Operation Sindoor and a strong-worded rebuttal by Prime Minister Narendra Modi rejecting Pakistan's claims of having struck Indian military jet maker's stock plunged as much as 6.7% on Thursday to 84.34 yuan in Shanghai, adding to earlier losses. The selloff came amid broader weakness in Chinese defence stocks , with the Hang Seng China A Aerospace & Defence Index dropping 1.7% on Thursday — its third consecutive session of rout accelerated after PM Modi visited the Indian Air Force 's Adampur airbase in Punjab on Tuesday, standing in front of the Russian-made S-400 air defence system — a visual counter to Pakistan's false claims that it had been destroyed using Chinese-origin JF-17 fighter jets.'Pakistan claimed it damaged our S-400 and BrahMos missile bases with JF-17 jets, which is completely false,' said Colonel Sofiya Qureshi. 'It also spread misinformation about damage to Indian airfields in Sirsa, Jammu, Pathankot, Bhatinda, Nalia, and Bhuj — all of which is untrue.'The Indian government, through the Ministry of External Affairs and the Press Information Bureau, dismissed Pakistan's version of events as 'a fabricated attempt to save face.'Alongside Avic Chengdu Aircraft, shares of other major Chinese defence companies also declined on Thursday. China Aerospace Times Electronics, Bright Laser Technologies, North Industries Group, China Spacesat, and AVIC Aircraft fell between 1.5% and 4.2%.The latest drop in Chinese defence stocks comes on the heels of India's successful Operation Sindoor, a military campaign that reportedly demonstrated the effectiveness of domestically produced systems like the Akash surface-to-air sentiment for Chinese defence stocks, which had earlier been boosted by the prospect of rising Chinese arms sales to Pakistan, turned sour after India and Pakistan agreed to a ceasefire and New Delhi forcefully dismantled what it called a 'coordinated disinformation campaign.'Meanwhile, Indian defence stocks surged in response to the events. Cochin Shipyard jumped 6.8% to Rs 1,814.90 on Thursday, while Paras Defence gained 5%, Mazagon Dock Shipbuilders rose 4.5%, and Bharat Dynamics advanced 1.8%. Hindustan Aeronautics climbed over 2%, and Zen Technologies hit its 5% upper circuit for the second day in a row.'The successful performance of Made-in-India defence systems against Chinese and other platforms used by Pakistan is likely to boost long-term demand for indigenous defence equipment,' said Ashwini Shami, EVP & Senior Portfolio Manager at OmniScience Capital. 'It also showcased India's capability for remote warfare and the integration of systems from multiple sources — underlining not just domestic defence production, but also our ability to make diverse technologies work together.': Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
Time of India
15-05-2025
- Business
- Time of India
Chinese jet maker Avic Chengdu Aircraft crashes 12% in 3 days. Blame it on Modi?
Shares of Avic Chengdu Aircraft , the Chinese defence manufacturer behind the JF-17 fighter jets used by Pakistan, have slumped 12% over three trading sessions as tensions flared following India's Operation Sindoor and a strong-worded rebuttal by Prime Minister Narendra Modi rejecting Pakistan's claims of having struck Indian military targets. The jet maker's stock plunged as much as 6.7% on Thursday to 84.34 yuan in Shanghai, adding to earlier losses. The selloff came amid broader weakness in Chinese defence stocks , with the Hang Seng China A Aerospace & Defence Index dropping 1.7% on Thursday — its third consecutive session of losses. Modi's airbase visit rattles sentiment The rout accelerated after PM Modi visited the Indian Air Force 's Adampur airbase in Punjab on Tuesday, standing in front of the Russian-made S-400 air defence system — a visual counter to Pakistan's false claims that it had been destroyed using Chinese-origin JF-17 fighter jets. 'Pakistan claimed it damaged our S-400 and BrahMos missile bases with JF-17 jets, which is completely false,' said Colonel Sofiya Qureshi. 'It also spread misinformation about damage to Indian airfields in Sirsa, Jammu, Pathankot, Bhatinda, Nalia, and Bhuj — all of which is untrue.' The Indian government, through the Ministry of External Affairs and the Press Information Bureau, dismissed Pakistan's version of events as 'a fabricated attempt to save face.' Broader Chinese defence stocks under pressure Alongside Avic Chengdu Aircraft, shares of other major Chinese defence companies also declined on Thursday. China Aerospace Times Electronics, Bright Laser Technologies, North Industries Group, China Spacesat, and AVIC Aircraft fell between 1.5% and 4.2%. The latest drop in Chinese defence stocks comes on the heels of India's successful Operation Sindoor, a military campaign that reportedly demonstrated the effectiveness of domestically produced systems like the Akash surface-to-air missile. Investor sentiment for Chinese defence stocks, which had earlier been boosted by the prospect of rising Chinese arms sales to Pakistan, turned sour after India and Pakistan agreed to a ceasefire and New Delhi forcefully dismantled what it called a 'coordinated disinformation campaign.' Indian defence stocks rally in contrast Meanwhile, Indian defence stocks surged in response to the events. Cochin Shipyard jumped 6.8% to Rs 1,814.90 on Thursday, while Paras Defence gained 5%, Mazagon Dock Shipbuilders rose 4.5%, and Bharat Dynamics advanced 1.8%. Hindustan Aeronautics climbed over 2%, and Zen Technologies hit its 5% upper circuit for the second day in a row. 'The successful performance of Made-in-India defence systems against Chinese and other platforms used by Pakistan is likely to boost long-term demand for indigenous defence equipment,' said Ashwini Shami, EVP & Senior Portfolio Manager at OmniScience Capital. 'It also showcased India's capability for remote warfare and the integration of systems from multiple sources — underlining not just domestic defence production, but also our ability to make diverse technologies work together.' Also read | Mazagon Dock, GRSE, Cochin Shipyard set for 3x order boom by FY27 amid defence windfall: Antique Broking ( Disclaimer : Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
Mint
15-05-2025
- Business
- Mint
Why is China's J-10 jet maker Avic Chengdu Aircraft share price falling after Modi's strong message against terrorism?
Avic Chengdu Aircraft share price: The stock of Chinese defence company Avic Chengdu Aircraft, which manufactures the J-10 fighter jets used by Pakistan's air force against India, has come under selling pressure following the successful completion of India's Operation Sindoor and a strong-worded message by Prime Minister Narendra Modi regarding intolerance of any kind of terrorism. Against this backdrop, Avic Chengdu Aircraft share price has seen a volatile few days, falling in two of the last three trading sessions. On Thursday, the Chinese defence stock opened at 87.74 yuan, down 3% from its last closing price of 90.35 yuan. It later extended losses, falling 6.30% to the day's low of 84.65 yuan. In the three trading sessions, Avic Chengdu Aircraft share price has lost nearly 12% of its value. However, despite the recent selloff, China's J-10 fighter jet maker's stock has rallied 43.83% in May alone amid the deployment of the jets by Pakistan's air force following increased tensions with India. Barring the stellar rally in May, Avic Chengdu Aircraft share price has recorded back-to-back losses for four months, nosediving 19% during this period. Ganesh Dongre, Senior Manager — Technical Research at Anand Rathi, believes that the Chinese defence stock is trading in an overbought zone and is likely to see limited gains in the near term. 'Avic Chengdu Aircraft is trading in the overbought zone on the weekly chart, indicating limited upside potential in the near term. The stock has established stiff resistance in the 90–95 range, where it has repeatedly failed to break out decisively. This price behaviour has led to a double top pattern, a classic bearish reversal signal, suggesting increased caution for traders,' Dongre said. He sees immediate support for Avic Chengdu stock at the 76 mark. 'A closing below this level could trigger further correction, potentially dragging the stock down to the 60–65 range. Given the current technical setup, traders are advised to avoid fresh entries at the current levels and instead wait for a dip closer to the stronger support zone before considering long positions. Buying near the 60–65 range would offer a more favourable risk-reward opportunity,' advised Dongre. The fall in Avic Chengdu Aircraft's share price, along with other Chinese defence stocks, comes following PM Modi's address to the nation, wherein he said that terror and trade, terror and talks, cannot go together. PM Modi also warned Pakistan that India will not succumb to nuclear blackmail, adding that Operation Sindoor is India's new policy against terrorism and our unwavering pledge for justice. "It is the new normal. We have only kept in abeyance our operations against Pakistan and the future will depend on their behaviour," Modi said in his address. Operation Sindoor was India's response to the terror attack on civilians in Pahalgam, Kashmir, on April 22, which resulted in the death of 26 people. India carried out precision strikes on terror infrastructure early on May 7, following which Pakistan attempted to attack Indian military bases on May 8, 9 and 10. India's defence ministry on Wednesday said the Indian Air Force bypassed and jammed Pakistan's Chinese-supplied air defence systems, completing the mission in just 23 minutes and demonstrating India's technological edge. Disclaimer: This story is for educational purposes only. The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
Hans India
14-05-2025
- Business
- Hans India
Chinese Defense Stocks Drop After PM Modi's Speech
On Wednesday, Chinese defense stocks went down sharply after the India-Pakistan ceasefire made people less worried about a possible war. The Hang Seng China A Aerospace & Defence Index dropped by 1.3%, marking the second day of losses. Many big companies in the Chinese defense sector saw their stock prices fall by 1% to 4%. Some of these companies include: China Aerospace Times Electronics Bright Laser Technologies AVIC Aircraft Only a few stocks went up, but most lost value. The index had already fallen by 2.9% the day before. Avic Chengdu Aircraft Falls the Most Shares of Avic Chengdu Aircraft, which makes J-10 fighter jets, fell by more than 9% in just two days. This company is linked to Pakistan's air force, and this caused more worries in the market. India's Strong Defense Pushes Market Down The fall in Chinese defense stocks happened after India's Prime Minister Narendra Modi spoke about India's successful defense. Modi said India's Akash missile and electronic systems worked well against weapons made in China that were used by Pakistan. This changed the market mood. Chinese Defense Market Faces Uncertainty The Hang Seng China A Aerospace & Defence Index is stuck between 4,000 and 4,500 points. Anshul Jain, a market expert, said the selling pressure may continue in China's defense stocks.
