The stock of Dassault Aviation, the creator of Rafale Jets, allegedly used by India during ‘Operation Sindoor’ against Pakistan, has fallen rapidly in the European stock market. Dassault Aviation hit a 7 percent intraday drop on Monday, reaching EUR 292. Throughout the day, Stock EUR 291 to EUR 295 continued to uplift.
Meanwhile, the shares of Chengdu Aircraft Corporation, J -10 fighter jets, were included by the Chinese Aerospace Company, Pakistan, increased by 20 percent on 12 May. This marked a significant increase in investor’s confidence for the Chengdu aircraft corporation, its stock increased by 60% from last week.
Live mint Informed The Dassault Aviation shares extended after Operation Sindoor, which was carried out by the Indian Air Force on 7 May, which targeted the terrorist infrastructure located about 200 kilometers in the Pakistani region.
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Strong performance of stock aligns with solid financial results. Dassault Aviation posted an annual sales of EUR 6.24 billion and a net profit of EUR 924 million, while the last one year broad French aerospace and defense sector increased by 17.7 percent, stated Live Mint.
However, the stock of Dassault Aviation rose 1.75% on May 8 to close Euronext at Eur 325.8 in the Paris Exchange, causing its year-to-year profit to 66.7% on 31 December 195.90 from 31 December 195.90.
However, the Dassault Aviation Stock has exceeded 10 percent in the last five trading sessions.
Ansul Jain, head of the research of Lakshmishri Investment and Securities, told the publication that the stock has been sent downwards by increasing the instability run by India-Pakistan News.
“Dassault Aviation share price has tested its swing low support zone of 292-291. A decisive stop can quickly pull the stock towards 260 zones. Caution is advised for a long position. Merchants should see for a breakdown confirmation before considering fresh shorts, as fast moves are important in this atmosphere.
India and France have recently signed an important deal to buy 26 naval variants of Rafale fighter jets. 63,000 crores for Indian Navy.
India is purchasing jets from French Defense Head Dassault Aviation, for deployment of board aircraft carrier INS Vikrant.
The Cabinet Committee on Security (CCS) headed by Prime Minister Narendra Modi approved the government-to-government deal for 22 single-sites Rafale M fighters and four twin-seat trainers, this month, Hindustan Times had earlier stated.
The Indian Air Force is already operating 36 Rafale fighters with hammer and skull missiles. India already has Aadhaar maintenance depots, repair, training and rafales in its Ambala Air Base.
Chengdu aircraft corporation shares
The share price of Chengdu aircraft industries once killed 88.88 Yuan in the stock market of the mainland China. It increased 50% in three days from the closing price of 59.23 Yuan on 6 May. Chengdu aircraft industries on May 9 withdrew their benefits due to sales to take advantage, closed at 79.88 yuan. This is also 35% from May 6.
The growth in the Chengdu aircraft industry has been held responsible for the India-Pakistan struggle.
The Pakistani Army is the latest reform of J-10C J-10. J-10 is a single-engine lightweight fighter developed by China’s Chengdu aircraft industry group, named The Fire Dragon (Menglong).
After completing its early flight in 1998, it was posted at the Chinese People’s Liberation Army Air Force since 2003. The J -10C was successfully electrified in 2018, and exports to Pakistan in 2022.
