Avic Chengdu Aircraft share price has lost over 11% of its value from Monday’s highest trading level following a strong message by Prime Minister Narendra Modi that terror and trade, terror and talks cannot go together.
J-10 fighter jets maker Avic Chengdu Aircraft share price crashes 11.50% after PM Modi’s address to the nation on Monday evening.
Avic Chengdu share price: The high-flying Chinese defence company, Avic Chengdu Aircraft, shares have lost over 11% of their value in three days, following a strong-worded message by Prime Minister Narendra Modi a day ago on the successful completion of Operation Sindoor.
Following PM Modi’s message, shares of Chinese defence companies faced a heavy selloff on Tuesday, even as Indian defence stocks rallied. Avic Chengdu Aircraft is the maker of J-10 fighter jets, which Pakistan Deputy Prime Minister Ishaq Dar said were used by its air force.
Avic Chengdu Aircraft share price today opened with a downside gap at 87.88 yuan per share and touched an intraday los of 85 yuan per share, logging an intraday loss of nearly 6%.
From Monday’s close of 95.86 yuan per share levels, China’s Avic Chengdu Aircraft stock has declined by over 11.50%. As of 8:32 am IST today, May 15, the Chinese defence stock was trading at 85.20 yuan per share mark after touching an intraday low of 85, logging around 11.50% dip in three successive days after PM Modi’s address to the nation.
However, since the launch of Operation Sindoor on the night of May 6, the Chinese defence stock Avic Chengdu Aircraft has surged over 60% in a matter of days.
PM Modi warned Pakistan that India will not succumb to nuclear blackmail and sent a clear message to the world: terror and trade, terror and talks cannot go together.
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