Chandrayaan-3 lifts space sector companies’ m-cap by Rs 13,000 crore
Shares of companies that supply equipment and components to the space sector rallied up to 15% on Wednesday ahead of Chandrayaan-3 spacecraft’s landing on the moon.
These companies added almost Rs 13,000 crore in market value on Wednesday.
After trading hours on Wednesday in Mumbai, India made history becoming the first country to land on the South Pole of the lunar surface.
Shares of Centum Electronics, which provides systems to the Indian Space Research Organisation (ISRO), rallied 14% on Wednesday. Godrej Industries surged 7% as its arm Godrej Aerospace supplies components to ISRO.
Hindustan Aeronautics, which manufactured the Lander Module ‘Vikram’ of Chandrayaan-3, rose 3.5% on Wednesday. Among other spacecraft suppliers, Linde India has risen more than 23% this week, while BHEL has gained nearly 10% during this period.
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