Dassault shares rise after India denies Rafale loss in Operation Sindoor
By : Krishna Mishra
Dassault Aviation's stock continued its upward trajectory for a second consecutive day on Tuesday, buoyed by India's strong rebuttal of claims that Rafale jets were shot down during Operation Sindoor.
On July 8, the stock opened slightly higher at €297.40 compared to the previous close of €297. This comes after a 3% dip over the past month. The recent rebound follows Defence Secretary RK Singh’s firm denial of Pakistani claims that multiple Rafales were downed. "You used the term Rafales in the plural—this is absolutely not correct," Singh stated, noting that Pakistan suffered significantly higher losses.
Backing this, Dassault Aviation Chairman & CEO Eric Trappier told French media that no Rafales were shot down in combat. He clarified that India did lose one jet due to technical reasons at over 12,000 metres during a training mission—not in combat and without enemy radar contact.
Controversy had erupted after a defence attaché in Indonesia suggested that India’s political leadership had restricted the military from targeting Pakistani defence infrastructure, which led to aircraft losses. However, Indian officials have dismissed this, reaffirming the operational autonomy of the armed forces.
Dassault’s shares had previously surged up to 66% following Operation Sindoor on May 7, 2025, but have since corrected by over 4%. Analysts now see the stock trading in a consolidation range around €299 for 18 weeks.
Anshul Jain of Lakshmishree Research noted:
“If the stock decisively breaks above €306 with strong volume, it could head towards the €330 level.”
Disclaimer: This article is for informational purposes only. Please consult certified financial advisors before making any investment decisions.