MARKET WATCH- chandrayaan3 impact stocks: Chandrayaan-3 stands on the brink of a historic moment, poised to etch its name in the annals of history by touching down on the moon's southern pole. The Indian Space Research Organisation (ISRO) has initiated the automatic landing sequence (ALS), eagerly anticipating the mission's arrival at the designated destination. The spacecraft is now primed to commence its descent towards the lunar terrain. In anticipation of Chandrayaan-3's imminent landing, the stocks of thirteen companies within the space sector have surged, reflecting the prevailing optimism surrounding India's space endeavors.
According to compiled data, the shares of companies engaged in various aspects of the space sector, spanning the supply of electronics components to metal gears, have collectively augmented market valuation by a staggering $2.5 billion. Linde India, for instance, witnessed a remarkable ascent of 23% this week, culminating in a Wednesday closing at Rs.5,923, reflecting a 2.73% increase. Critical modules and systems vital for the Chandrayaan-3 mission were supplied by Centum Electronics, propelling the company's shares to a robust 11% surge this week. The closing figures for Wednesday indicated a remarkable 14.51% spike, reaching Rs.1,648. Similarly, Avantel, a key player in satellite communication, experienced an impressive surge of over 12% throughout the week, closing at Rs.235 (1.34% increase) at the week's midpoint.
The spotlight falls on Hindustan Aeronautics Limited (HAL), responsible for manufacturing the Lander Module 'Vikram' integral to Chandrayaan-3. The company's stocks soared by 3.5%, reaching a fresh 52-week high during Wednesday's trading session. Notably, this marks the third consecutive upswing for HAL's share prices, which settled at Rs.4,043, a substantial 3.89% rise from the day's commencement. Trendlyne reports an impressive 80.1% growth in HAL's share price over the past year, outperforming its sector by a remarkable 10.1%.
Analysts postulate that participation in missions as pivotal as Chandrayaan-3 could unlock further avenues for these companies. Kranthi Bathini, a strategist affiliated with Mumbai-based WealthMills Securities Pvt, underscores that these companies stand positioned to partake in global undertakings in the future, facilitating the exportation of their services.
The global community holds its collective breath, offering fervent prayers for the safe and successful landing of Chandrayaan-3. Across various locales in India, special puja ceremonies are being orchestrated to beseech divine blessings for the secure touchdown of the Lander Module 'Vikram'.
Jeff Bezos, Elon Musk Cheers Chandrayaan-3 Moon Landing, What's said?
Chandrayaan-3 Lunar Updates: ISRO's Automatic Landing sequence, and More
Key Questions About 'Chandrayaan-3' Everyone Should Be Aware Of
