MONDAY, JUNE 16, 2025
Chinese missile maker's stock tanks over 6 pc after India destroys its air weapon
The shares of Zhuzhou Hongda Electronics Corp Ltd, the Chinese defence company that manufactures the PL-15 missile, dropped sharply by 6.42 per cent or 2.56 Yuan to 37.33 Yuan on Tuesday
Published on May 13, 2025
By IANS
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- NEW DELHI — The shares of Zhuzhou Hongda Electronics Corp Ltd, the Chinese defence company that manufactures the PL-15 missile, dropped sharply by 6.42 per cent or 2.56 Yuan to 37.33 Yuan on Tuesday, after India's air defence system successfully intercepted and destroyed the missile during the conflict with Pakistan.
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- Over the past month, the company’s shares have declined by 7.37 per cent, or 2.97 Yuan. However, the stock showed a brief 5-day recovery of 7.58 per cent.
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- The stock plunge came after Indian defence forces confirmed that the PL-15 missile, supplied to Pakistan by China, failed to penetrate the country's multi-layered air defence system.
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- On the night of May 9 and 10, Pakistan launched a series of air attacks targeting Indian Air Force bases and military facilities using advanced weaponry, including the Chinese PL-15 missile and Turkish-made Byker YIHA III kamikaze drones.
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- However, India’s air defence successfully intercepted all threats.
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- The PL-15, a beyond-visual-range (BVR) air-to-air missile used by Pakistan’s JF-17 and J-10 fighter jets, was neutralised by indigenous defence systems.
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- This interception has raised questions about the real-world effectiveness of China’s missile technology, possibly triggering the decline in investor confidence in Zhuzhou Hongda.
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- India’s Director General of Air Operations, Air Marshal A.K. Bharti, displayed images of the intercepted weapons, showcasing how the Indian defence network had destroyed high-tech missiles and drones.
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- He credited India’s self-reliant defence capabilities, particularly the indigenous 'Akash' air defense system, as a crucial factor in neutralising the threat.
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- The Akash system, alongside vintage systems like Pichora and advanced platforms including MANPADS, short-range missiles, and fighter aircraft, formed a coordinated defense shield under the Integrated Air Command and Control System.
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- The Turkish Byker YIHA III drone, capable of carrying high-explosive payloads and designed for low-altitude, high-speed attacks, was also intercepted near Amritsar.
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- This drone was intended to cause significant damage to military or civilian targets, but failed to breach India’s defenses.
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- Lieutenant General Rajiv Ghai, Director General of Military Operations (DGMO), explained the multi-layered coordination among the Indian Army, Air Force, and Navy, describing a defence posture that was both measured and impenetrable.
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- Between May 9 and 10, India’s multi-layered air defence grid was put to the test as waves of drones, launched by the Pakistan Air Force (PAF), attempted to penetrate Indian airspace. “Not a single PAF drone could breach the defence shield,” Lt Gen Ghai stated.
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