cochin shipyard: Chinese jet maker Avic Chengdu Aircraft crashes 12% in 3 days. Blame it on Modi?
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Broader Chinese defence stocks under pressure
Indian defence stocks rally in contrast
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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.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.'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.'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)
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The whole world can know you. On this basis, India has set new records in UPI and DBT. Today, 46 per cent of the world's digital transactions happen in India. Nearly 1.7 billion transactions occur in India every year, worth about three trillion dollars. India is not a follower. India is the leader in digital transactions. If anyone deserves credit for building this digital highway, connecting everyone, and enabling UPI and DBT, it is Prime Minister Narendra Modi. And look at the cost. Ten years ago, data cost Rs 290 per GB. Today, it is around Rs 9.5 per GB—a 95 per cent drop. Globally, the average data rate is about $2.50 per GB. India's rate is five per cent of that. So India can become the world's data bank and data leader on the basis of this capability. IANS: BSNL recently announced a profit. How did that happen? Jyotiraditya Scindia: The UPA government had left BSNL on critical support - not even ventilator support. The Prime Minister resolved that we would fully redeploy BSNL in the service of the people and make it beloved once again. Several economic packages were announced, including Rs 3 lakh crore for BSNL. All the economic and strategic steps were taken. On the basis of tireless efforts over the last 12–15 months—and I give full credit to every member of the BSNL family, from linesmen in villages to the headquarters team—they have worked with total dedication and commitment. For the first time in 18 years, in the October–December 2024 quarter, BSNL posted a net profit of Rs 262 crore. In the January–March 2025 quarter, it posted Rs 280 crore in net profit. This wasn't possible in the last 18 years. For FY 2025, BSNL reported 8 per cent revenue growth, from Rs 20,000 crore to nearly Rs 21,900 crore. Operating profit jumped from Rs 2,346 crore last year to Rs 5,300 crore this year—a 150 per cent increase. 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