The successful soft landing of Chandrayaan-3 on the moon has not only captured the imagination of the nation but has also ignited a remarkable uptrend in the Indian stock market. Thirteen Indian stocks operating in the space and defence segments have experienced significant gains over the past week, collectively adding more than ₹20,000 crore to their market capitalization, according to a report by Bloomberg.
A Market Resonating with Lunar Success
The list of beneficiaries from Chandrayaan-3‘s lunar triumph reads like a tribute to India’s burgeoning space and defence sector. Among the thirteen stocks that have witnessed a surge are Linde India, Centrum Electronics, Hindustan Aeronautics Ltd (HAL), Bharat Heavy Electricals Ltd (BHEL), Bharat Electronics Ltd (BEL), Larsen & Turbo (LT), Avantel, Paras Defence and Space Technologies, MTAR Technologies, and Walchandnagar Industries.
The Impressive Gains
Over the past week, Linde India’s share price has surged by over 17%, reaching new heights. Centum Electronics has experienced a meteoric rise, achieving an all-time peak of ₹1,948.65 per share on the NSE, reflecting a remarkable 26% increase within a mere week. Avantel has been consistently setting new peaks as Chandrayaan-3 embarked on its journey, amassing around a 22% return in the past five sessions.
Defying Gravity: Record Highs and Returns
Paras Defence, too, has contributed to this success narrative, witnessing a 15% rise in its share price and achieving a new all-time high of ₹842 apiece on the NSE. Hindustan Aeronautics Limited (HAL), the manufacturer of the Lander Module ‘Vikram’ for Chandrayaan-3, saw its shares rally by 3.5%, establishing a new 52-week high of ₹4,135 on the NSE. Even amidst heavy profit booking in the latter half of the Thursday session, Larsen & Turbo managed to surge over 1% in the span of a week.
A Market Elevated by Lunar Achievement
The successful soft landing of Chandrayaan-3 on the moon has not only marked a historic accomplishment for India’s space endeavors but has also lifted the spirits of the Indian stock market. As these thirteen space and defence stocks soar, their impressive gains stand as a testament to India’s prowess in space technology and the potential for growth in the sector.
Disclaimer: The information provided here is for educational purposes only and should not be considered financial advice. Always conduct thorough research and consider consulting a financial professional before engaging in algorithmic trading.