Shares of Chinese defense company AVIC Chengdu, which makes J-10 fighter jets, have fallen by up to 18 percent in the last one month. During the war between india and pakistan after 'Operation Sindoor', its share price was skyrocketing. As soon as ceasefire happened four days later, it started falling.
Pakistan's false claims have an impact
AVIC Chengdu's share price has fallen 18 percent from its high level of 95.86 yuan on May 12, a month ago, to a low of 78.68 yuan on Wednesday, june 9. AVIC Chengdu's shares also suffered a major setback when india completely rejected Pakistan's claim that an army airbase in india was destroyed by Chinese fighter jets. Of course, during the war, pakistan used J-10 fighter jets against india, but it did not achieve any success.
india exposed Pakistan
Colonel Sophia Qureshi had said, "Pakistan claimed that it had damaged our S-400 and Brahmos missile bases with JF-17 jets, which is completely false. pakistan also spread false news about damaging indian airports in Sirsa, Jammu, Pathankot, Bhatinda, Nalia and Bhuj - all these things are false." After this disclosure by india and the indian army defeating pakistan during 'Operation Sindoor', investors have become cautious about China's defense stocks.
What will happen next?
In May, when the company's stock jumped up to 30 percent, investors made huge profits. According to media reports, stock expert Anshul Jain says, AVIC Chengdu's shares are currently in the range of 86 to 75 yuan. Since big investors are not showing interest in it, it is not likely to rise very soon. This sequence of fluctuations in the shares may continue for the next 8-10 weeks..jpg)
click and follow Indiaherald WhatsApp channel