MTAR, BDL, HAL shares: Chandrayaan-3 success sends these defence stocks to the moon

India made a soft landing on the Moon on Wednesday and became the first country on its South Pole and fourth nation overall to land on Earth's natural satellite. The success of the Indian space mission in the previous evening triggered a sharp rally in domestic listed defence and aerospace counters, which rallied up to 17 per cent at the opening tick.

Shares of Paras Defence and Space Technologies surged more than 17 per cent to Rs 841.80, hitting its new 52-week high, with a total market capitalization of more than Rs 3,100 crore. The smallcap counter had settled at Rs 717.60 on Wednesday.

MTAR Technologies, which made core parts of the rocket engines and core pumps of cryogenic engines required for take-off 'Chandrayaan-3', also gained more than 10 per cent to hit its record high at Rs 2,450. Its total valuation inched close to Rs 7,500 crore mark.

Bharat Electronics extended its gains by another 2 per cent to hit a new 52-week high at Rs 135.55. The stock of Chandryaan3’s payloads maker has gained about 8 per cent in the current week so far. Hindustan Aeronautics gained about 3 per cent, before profit booking while Bharat Dynamics added 2 per cent to Rs 1,179.95.

Watch: Chandrayaan-3 success sends Paras Defence, MTAR Technologies, BEL, Hindustan Aeronautics (HAL), other space-related stocks to the Moon!

Global brokerage firm CLSA said India’s Chandrayaan 3's soft landing on moon should strengthen the ‘Make in India’ theme. It would open up global rocket, launch and satellite markets for Indian players such as Larsen & Toubro (L&T), it said.

The global space economy is primarily driven by a record number of satellite launches, technology innovations, demand for lower costs and growing communication needs, CLSA said, adding that "with its cost-competitive launch cost, India’s private ventures should help capture this market.

Other stocks including Astra Microwave Products and Apollo Micro Systems gained more than 3 per cent each to Rs 377.20 and Rs 58.71 apiece, respectively. Recently listed Ideaforge Technology also nudged higher by 2 per cent, while

Other lesser known players from the aerospace and defence segment, including Sika Interplant System and NIBE were locked in the upper circuit limits for the day at Rs 1,217.20 and Rs 495.65, respectively.

Sonam Srivastava, smallcase manager and Founder of Wright Research, said that the sucess of this mission could magnetise a greater influx of international investments into the country. Beyond the immediate prestige, the mission holds the promise of unlocking novel commercial avenues in the space domain.

"Sectors such as telecommunications, remote sensing and satellite navigation stand to benefit, potentially catalysing job generation and spurring economic growth," she added. "The national pride and euphoria accompanying a successful landing could positively influence market sentiment, potentially giving a boost to stock prices. However, it’s crucial to be pragmatic."

Individual investor Safir Anand believes that the landing could trigger huge interest in research and development and collaborative modes. “It can support many small medium companies who provide parts or servicing or MRO (maintenance, repair and operations). It can boost ‘Make in India’ and ‘collaborate with India’,” he said.

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