New Delhi: The shares of Chinese missile company Zhuzhou Hongda Electronics Corp Ltd dropped by 6.42 per cent after India successfully shot down its PL-15 missile during a recent conflict with Pakistan. The missile was used in an attack attempt on Indian military bases but was destroyed by India’s air defence systems.
This event happened on the night of May 9 and 10 when Pakistan launched air strikes using the PL-15 missile and Turkish-made Byker YIHA III drones. These weapons were aimed at Indian Air Force bases and military areas. However, India’s strong defence setup stopped all the attacks.
The PL-15 is a modern, long-range missile used by Pakistan’s fighter jets, like the JF-17 and J-10. It was expected to be very powerful, but its failure to break through India’s defence has raised questions about the quality of China’s missile technology. Because of this, many investors lost confidence, leading to a drop in the Chinese company’s stock price.
In the past month, the company’s stock has fallen by over 7 per cent. Even though there was a small recovery recently, the news of the failed missile brought another sharp drop in the stock.
India’s air defence used both old and new systems to stop the attacks. The main system was the Akash missile system, made in India. It worked with other defences like Pichora, MANPADS, and fighter jets to create a strong shield in the sky. These systems are all linked through the Integrated Air Command and Control System to quickly spot and shoot down threats.
Air Marshal A.K. Bharti showed pictures of the destroyed missiles and drones, saying this success proves the strength of India’s home-made defence technology.
Also, the Turkish Byker YIHA III drone, which can fly fast and low to avoid detection, was shot down near Amritsar. It was meant to cause big damage but couldn’t get past India’s defence.
Lieutenant General Rajiv Ghai said that all three military branches – Army, Navy, and Air Force – worked together to stop every attack from Pakistan.
(With IANS Inputs)
