Chandrayaan-3's Success Lifts Indian Space Sector Companies' Market Value By Rs 13,000 Crore In One Day
August 23rd 2023 is a date that has been etched into India¡¯s history after the successful landing of its ambitious space mission Chandrayaan-3 yesterday.
August 23, 2023, has been etched in India¡¯s history after the successful landing of its ambitious space mission Chandrayaan-3 yesterday.
Right from the day Chandrayaan-3 was launched on July 14, each passing day was full of worry for ISRO as well as all Indians, but at the same time was raising hopes as we inched closer to landing on the moon.
Chandrayaan-3 Mission:
¡ª ISRO (@isro) August 23, 2023
'India??,
I reached my destination
and you too!'
: Chandrayaan-3
Chandrayaan-3 has successfully
soft-landed on the moon ?!.
Congratulations, India??!#Chandrayaan_3#Ch3
And finally, when billions of eyes were glued to ISRO¡¯s live telecast regarding Chandrayaan-3¡¯s landing, our nation became the first one in the world to land near the moon¡¯s south pole.
Indian Space Sector Companies Market Value Jumps Rs 13,000 Crore
isro
This historic moment that marked the success of Chandrayaan-3 yesterday also brought with it another reason for India¡¯s space sector to celebrate. The shares of companies that supply equipment and components to the space sector rallied up to 15% on Wednesday ahead of the Chandrayaan-3 spacecraft¡¯s landing on the moon.
These companies added almost Rs 13,000 crore in market value in a single day, i,e, on Wednesday (August 23).
Also Read: List Of Companies Behind The Successful Launch Of Chandrayaan-3
Which Companies' Shares Surged Amid Chandrayaan-3's Success
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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, as per ET. Among other spacecraft suppliers, Linde India has risen more than 23% this week, while BHEL has gained nearly 10% during this period.
Centum Electronics added Rs 263.2 crore, Godrej Industries added Rs 1,213.8 crore, Paras Defence added Rs 144.1 crore, MTAR Technologies added Rs 316.7 crore, Hindustan Aeronautics added Rs 4669.7 crore, Mishra Dhatu Nigam added Rs 248.2 crore, Linde India added Rs 1564.1 crore, Larsen & Toubro added Rs 5,453.9 crore, Avantel added Rs 25.1 crore, while Bharat Heavy Electricals is the only exception as it dropped Rs 539.7 crore in market value yesterday. The nine Indian space sector stocks that added to their market value witnessed a combined jump of nearly Rs 13,900 crore in a single day yesterday.
What Next? ISRO's Next 6 Missions
After the historic success of ISRO's ambitious moon mission Chandrayaan-3, let's look at ISRO's next six missions:
2. NASA-ISRO SAR (NISAR) Satellite - January 2024
3. SPADEX - Third quarter of 2024
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