Chandrayaan-3 success: Aerospace, defence stocks continue to rally

Shares of companies related to aerospace and defence sectors continued to remain in the limelight on Thursday, with firms such as Centum Electronics rallying nearly 20 per cent

New Delhi: Shares of companies related to aerospace and defence sectors continued to remain in the limelight on Thursday, with firms such as Centum Electronics rallying nearly 20 per cent, after the successful touchdown of Chandrayaan-3 mission’s Vikram lander on the Moon.

The stock of Centum Electronics zoomed 19.69 per cent, Paras Defence and Space Technologies Ltd rallied 17.30 per cent, MTAR Technologies jumped 10.32 per cent and Hindustan Aeronautics Ltd climbed 2.69 per cent on the BSE.

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Centum delivered more than 200 mission critical modules to the Chandrayaan-3 mission, according to the company’s website.

Shares of Astra Microwave Products climbed 2.63 per cent, Larsen & Toubro went up 1.82 per cent and Bharat Forge gained 1.63 per cent. Most of these firms hit their 52-week high levels during morning deals.

Shares of companies related to aerospace and defense sectors had jumped on Wednesday also. In the equity market, the BSE Sensex jumped 402.83 points to trade at 65,836.13.

“The near-term market outlook has turned distinctly positive with the US economy’s soft landing narrative lifting sentiments globally and Chandrayaan-3’s successful soft landing on the Moon boosting sentiments in India,” said V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.

India’s Moon mission Chandrayaan-3 touched down on the lunar south pole at 6.04 pm on Wednesday, making it the first country to land on the uncharted surface.