Focus on Shares Following the Success of Chandrayaan-3: A List of Companies in the Limelight
After the triumph of Chandrayaan-3, several companies are now in the spotlight due to their significant contributions. Let’s delve into the notable players that are making waves in various sectors:
1) Paras Defence and Space Technologies
Paras Defence and Space Technologies, a company with expertise in defense and space technology, particularly in fields like defense electronics and heavy engineering, played a crucial role by supplying navigation systems for Chandrayaan-3. With a remarkable surge of over 5% yesterday, their stocks soared even higher today by more than 12%.
2) MTAR Technologies
MTAR Technologies played a part in supplying components for development engines and cryogenic engine subsystems, including MTAR turbopumps and booster pumps, used in the Mangalyaan mission.
“The global space market is valued at $447 billion, and India’s share is less than 5%. After this, India should initiate a solar observatory mission and send a human to the moon, which will strengthen India’s stake in the winning pie of global markets and players,” said C.L.S.A.
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4) Mishra Dhatu Nigam
Mishra Dhatu Nigam, a Hyderabad-based PSU metal manufacturer, contributed crucial materials like cobalt-based alloys, nickel-based alloys, titanium alloys, and special steels for various components of the launch vehicle used in the Chandrayaan mission. After a growth of over 3% yesterday, their stocks rose approximately 2% today.
5) Bharat Heavy Electricals Limited (BHEL)
BHEL, or Bharat Heavy Electricals Limited, supplied titanium tanks and batteries for Chandrayaan-3. BHEL shares were trading 1% higher.
6) L&T (Larsen & Toubro)
L&T’s aerospace division played a vital role by supplying important components, constructing and testing the booster segment, and integrating the launch vehicle for Chandrayaan-3. Heavyweight L&T stock saw an increase of around 3% in two days.
7) Bharat Electronics Limited (BEL)
BEL was involved in the manufacturing of payloads for Chandrayaan-3. The stock was up by 2% today.
8) Centum Electronics
Centum Electronics, a company providing design, development, and manufacturing of electronics systems for space applications, witnessed a growth of 14% yesterday and an additional 10% surge today, reaching the top position.
9) Avantel
Hyderabad-based aerospace and defense company Avantel, counted among ISRO’s customers, showed growth of more than 8% in trading.
10) Godrej Industries
Godrej Aerospace, part of the Godrej Group, supplied critical components. While the stock of Godrej Industries saw a 7% increase yesterday and a 3% growth today, the company clarified that Godrej Aerospace is not a branch of Godrej Industries.
Here is how the Lander Imager Camera captured the moon's image just prior to touchdown.#Chandrayaan3 #ISRO pic.twitter.com/K6922vjlQi
— LVM3-M4/CHANDRAYAAN-3 MISSION (@chandrayaan_3) August 24, 2023
What Should Investors Do?
Analysts suggest that despite short-term gains, these stocks hold long-term potential due to the global market that Chandrayaan-3 has opened up for Indian companies.
“The global space market is valued at $447 billion, and India’s share is less than 5%. After this, India should initiate a solar observatory mission and send a human to the moon, which will strengthen India’s stake in the winning pie of global markets and players,” said C.L.S.A.
Despite recent growth, some space shares remain undervalued. Analysts predict that several Indian companies could now attract international attention similar to Elon Musk’s endeavors.
For investors, the future appears promising as these companies continue to shine in the light of their contributions to India’s space endeavors.