Rafale-maker Dassault Aviation shares hover near record-high territory amid Indo-Pak hostility
ADVERTISEMENT
Share price of Dassault Aviation, the French manufacturer of Rafale jets, neared record high levels on Wednesday, rising for the second consecutive trading session. At 3:55 PM IST, the stock of Dassault Aviation was trading at €302.40 on the Paris Stock Exchange, 0.47% higher, coming close to its record-high levels of €332.20. The scrip has rebounded from Monday’s low of €292.
The stock has been in focus ever since India launched Operation Sindoor, a precision airstrike to destroy terrorist camps 200 kilometres within Pakistani territory and Pakistan-occupied Kashmir, but without breaching Pakistani airspace. Multiple reports have suggested that the Indian Air Force had deployed Rafale jets, armed with SCALP cruise missiles and HAMMER munitions, to carry out precision airstrikes.
July 2025
In the world’s youngest nation—where over 65% of the population is under 35—India’s future is already being shaped by those bold enough to lead it. From boardrooms to breakout ideas, a new generation of business leaders is rewriting the rules. This year's Fortune India’s 40 Under 40 celebrates these changemakers—icons in the making like Akash Ambani, Kaviya Kalanithi Maran, Shashwat Goenka, Parth Jindal, Aman Mehta, and Devansh Jain—who are not just carrying forward legacies but boldly reimagining them for a new era. Alongside them are first-generation disruptors like Sagar Daryani, scaling Wow! Momo with a vision to take ₹100 momos to 5,000 cities, and Palak Shah, turning the Banarasi weave into a global fashion story with Ekaya Banaras. These are the entrepreneurs turning ambition into scale. And even beyond traditional industry, the entrepreneurial wave is pulling in creative forces—Ranveer Singh, for instance, is shaking up wellness and nutrition with Bold Care and SuperYou, proving that passion, backed by purpose, is the new blueprint for building brands.
On Monday, Dassault Aviation stock erased the gains it made in the aftermath of Operation Sindoor—and the military confrontations that ensued—after the two countries mutually agreed upon an immediate ceasefire. However, the stock rebounded after Prime Minister Narendra Modi made an unexpected visit to the Adampur Air Force Base, and with a S-400 missile defence system in the backdrop, lauded the Indian armed forces for “humbling” Pakistan in the four-day military confrontation.
“India's Lakshman Rekha against terrorism is now crystal clear. India will respond and definitely respond if hit by a terror attack,” said Modi. The Adampur Air Force Base is merely 100 kilometres from the border with Pakistan. The Indian Air Force currently has 36 Rafale fighter jets.
In April, India signed a deal with France to buy 26 Rafale jets for its navy in a deal worth ₹6,300 crore ($7.4 billion). “The delivery of these aircraft would be completed by 2030, with the crew undergoing training in France and India,” the defence ministry had said in a statement announcing the deal.
According to the terms of the deal, Dassault will supply 22 single-seater and four twin-seater fighter jets for its navy, which currently consists largely of Russia’s MiG-29 jets. Industry experts touted the deal as a step towards reducing reliance on Russian-manufactured defence equipment and modernising its military. In the 1980s, India had purchased Mirage 2000 jets.
Fortune India is now on WhatsApp! Get the latest updates from the world of business and economy delivered straight to your phone. Subscribe now.