Hindustan Aeronautics share price: Here's why stock hit new 52-week high ahead of Chandrayaan landing

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Hindustan Aeronautics (HAL) share price rose 3.5% to hit a new 52-week high on Wednesday's session as HAL manufactured Vikram lander, part of Chandrayaan-3 spacecraft is expected to land on the moon today. Hindustan Aeronautics' stock has risen for the past three sessions in a row, gaining 6%. HAL share price today opened at ₹3,914.95 apiece on BSE, and touched intraday high at ₹4,034 and low at ₹3,899.

Hindustan Aeronautics has contributed to the Chandrayaan-3 project. A HAL-L&T consortium won a contract worth ₹860 crore last year from New Space India Ltd (NSIL) to construct five Polar Satellite Launch Vehicle (PSLV) rockets, which are known as India's workhorse spacecraft. According to a media report, a number of parts supplied to National Aerospace Laboratories (NAL) were crucial in enabling the Chandrayaan-3 mission.

Also Read: Chandrayaan-3 Moon Landing Today Live Updates: What is Automatic Landing Sequence? Vikram LM to enter into crucial phase India's ambitious lunar space mission is getting closer to its end after more than a month of launch. Around 6:04 p.m. today, the Vikram Lander spacecraft is scheduled to touch down on the moon.

On the technical front, HAL share price rose 80.1% and outperformed its sector by 10.1% in the past year, as per trendlyne data. On Wednesday's trade, Hindustan Aeronautics share were trading at high day volume of 1.8 milion. Also Read: These are the listed companies behind the successful launch of Chandrayaan 3 mission; do you own any? "We are seeing strong positive traction backed with strong volumes, prices have broken above its recent range and indicates a continuation of strong uptrend post the last couple of weeks of consolidation.