The aerospace and defense sectors took the spotlight on Wednesday in anticipation of Chandrayaan-3’s imminent lunar touchdown. Shares of Centum Electronics surged by 14.91%, Paras Defence and Space Technologies Ltd jumped 5.47%, MTAR Technologies rallied 4.84%, and Hindustan Aeronautics Ltd climbed 3.57% on the BSE.
Centum Electronics played a crucial role by delivering over 200 mission-critical modules for the Chandrayaan-3 mission, as mentioned on the company’s website. Bharat Forge’s shares increased by 2.82%, Astra Microwave Products gained 1.72%, and Larsen & Toubro saw a rise of 1.42%.
During the day, several of these companies achieved their 52-week high levels.
Earlier, ISRO announced its readiness to initiate the automatic landing sequence for Chandrayaan-3’s ambitious moon mission, with the lander module expected to touch down on the lunar surface in the evening.
“Sidhartha Khemka, Head of Retail Research at Motilal Oswal Financial Services Ltd, noted, “Anticipating a successful landing, various defense companies that contributed parts for Chandrayaan-3 experienced a rally.”
In the equity market, the BSE Sensex gained 213.27 points or 0.33%, closing at 65,433.30. The NSE Nifty increased by 47.55 points or 0.25%, ending at 19,444.
“Riches Vanara, Technical And Derivatives Analyst at StoxBox, observed, “Market participants hurriedly invested in defense companies like L&T, MTAR Technologies, and HAL in anticipation of Chandrayaan-3’s landing.”
Chandrayaan-3 successfully executed a soft landing on the lunar south pole.
In a groundbreaking achievement for its space program, India’s Chandrayaan-3 mission touched down on the lunar south pole at 6:04 pm on Wednesday, catapulting the nation into an exclusive group and establishing it as the pioneer in landing on uncharted lunar terrain.”
Also Read: Chandrayaan-3 Lands on Moon: Bollywood Celebs Celebrate!
