Chandrayaan-3 news: Stocks of 13 Indian companies rally ahead of landing, add $2.5 billion

livemint.com:

Bloomberg News, the stocks of companies related to the space sector like in the supply of equipment from electronics components to metal gears have added more than $2.5 billion in market value. Linde India's share jumped 23% this week and closed at ₹5,923 (up 2.73%) on Wednesday. Chandrayaan-3 mission required some critical modules and systems which was provided by Centum Electronics.

The share of the company has witnessed an 11% rally this week and closed 14.51% up on Wednesday at ₹1,648. The shares of Avantel, which is a satellite communication provider jumped more than 12% this week and closed at ₹235 (up 1.34%) at Wednesday's closing. Hindustan Aeronautics Limited (HAL) which manufactured the Lander Module ‘Vikram’ of Chandrayaan-3 rallied 3.5% to hit a new 52-week high on Wednesday's session.

This is the third consecutive rally of HAL share price which closed at ₹4,043 (up 3.89%) at Wednesday's closing. As per Trendlyne, the share price of HAL grew 80.1% in the past year and outperformed its sector by 10.1%. The strategists said that participating in Chandrayaan-3-like crucial missions can provide these companies with more opportunities.

Kranthi Bathini, a strategist with Mumbai-based WealthMills Securities Pvt said that these companies can become part of global projects in the future and export their services. The world is holding its breath and praying for a safe landing of Chandrayaan-3. In various places of India, puja ceremonies are being organized to pray for the safe landing of the Lander Module ‘Vikram’.