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L&T, MTAR, HAL: Stocks related to Chandrayaan-3 extend gain, soar up to 20%

Centum Electronics and Paras Defence were the top gainers in Thursday's intra-day deals, zooming up to 20 per cent.

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SI Reporter Mumbai

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Shares of aerospace companies and tecnical assitance providers for the Chandrayaan-3 rallied sharply, for the second straight day, in Thursday's intra-day trades after the mission's success.

India on August 23, 2023, became the first country to land on the South Pole region of the lunar surface after having spent just Rs 615 crore. Overall, India is now the fourth country - after the former USSR, the US, and China - to soft-land on the moon through the completion of its Chandrayaan-3 mission. 

Amid the upbeat mood and prospects for future growth opportunities shares of companies related to the Chandrayaan-3 mission were in limelight.

On Thursday, Larsen & Toubro (L&T) advanced over a per cent to Rs 2,750. The company supplied equipments to India's moon mission, including tracking radar used to monitor launch vehicles.

Centum Electronics, reportedly supplied modules for the Chandrayaan-3 mission. The stock zoomed nearly 20 per cent to high a high at Rs 1,970, and at 09:20 AM was trading 11 per cent higher at Rs 1,830.

MTAR Technologies manufactures Rocket Enginers and Core Pumps for the Indian Space Research Organisaiton (ISRO). The stock soared over 10 per cent to a high of Rs 2,450, and was up 8.6 per cent at Rs 2,411.

Hindustan Aeronautics rallied 2.5 per cent to Rs 4,135, and quoted 2 per cent higher at Rs 4,108. It was responsible for developing the Lander along with Mechanical Support Equipment.

Bharat Electronics was up over a per cent at Rs 135.25. The company had assembled payloads for Chandrayaan-3.

Alloy maker Mishra Dhatu Nigam (Midhani), which supplied cobalt and nickel base alloys for the launch vehicle, jumped 4.5 per cent to a high of Rs 426, and was up 2.5 per cent at Rs 415. 

Similarly, Indo National, which supplied four electronics components for the launch vehicle, touched a high of Rs 459, and traded with a gain of 3 per cent at Rs 450.

Among others related to aerospace, Paras Defence and Space Technologies zoomed over 17 per cent to Rs 842, and traded 13 per cent higher at Rs 810. Tata Elxsi was up over 2 per cent at Rs 7,270.

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First Published: Aug 24 2023 | 9:35 AM IST

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