Rs 35,300 crore wealth creation: L&T, MTAR, HAL, 6 other shares gain as Chandrayaan 3 probes moon

Shares of at least nine listed companies that contributed to India's successful moon mission or have exposure to the space segment saw their combined market capitalisation (m-cap) jumping over Rs 35,000 crore even since Chandrayaan 3 entered the Lunar orbit on August 5. Many of these stocks climbed up to 8 per cent following Vikram Lander's successful soft landing on moon on Thursday.

The biggest gainer has been satellite communication provider Avantel Ltd, whose shares rallied 47 per cent over August 4's closing level. August 5 was a Saturday, non-trading day. Paras Defence And Space Technologies Ltd saw its shares rallying 17 per cent since August 4. Shares of Centum Electronics Ltd are up 16.62 per cent since then. Centum delivered more than 200 mission critical modules to the Chandrayaan-3 mission. Linde India (13 per cent), BHEL (11 per cent) and Mishra Dhatu Nigam (10 per cent) also saw double-digit gains since. MTAR Technologies (8 per cent), Hindustan Aeronautics Ltd (6.45 per cent) and Larsen & Toubro (4 per cent) also advanced up to 6 per cent since.

L&T was involved in this mission starting from manufacturing of subsystems to mission tracking. The Titanium tanks were delivered by Bharat Heavy Electricals Limited (BHEL). In the case of Mishra Dhatu Nigam, the company played a role in developing and supplying critical materials such as cobalt base alloys, nickel base alloys, titanium alloys, and special steels for various components of the LVM3/M4, a three-stage heavy lift launch vehicle used in the lunar mission.

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

In total, nine stocks saw their m-cap rising Rs 35,305.43 crore to Rs 6,27,630 crore from Rs 5,92,324 crore.

Walchandnagar Industries Ltd, meanwhile, saw its shares fall about 10 per cent since August 4.

A Hindustan Times report quoting Walchandnagar Industries' CEO and MD Chirag Doshi suggested that the critical booster segments S200 used in the LVM3 launch vehicle of the Chandrayaan 3 mission were manufactured and proof pressure-tested specifically at its facility. Other LVM3-M4s subsystems like Flex nozzle control tankages and S200 Flex nozzle were also a Walchandnagar production, the media report suggested Doshi as saying.

India opened its space sector for private companies in 2023 with a Hindustan Aeronautics (HAL) and L&T joint venture winning its first order to build five end-to-end polar satellite launch vehicle (PSLV) rockets. The global space market is pegged at $447 billion and India has less than 5 per cent share. India would soon be launching a mission for a solar observatory and put a man on the moon. Success would solidify India’s right to win in the global market and its vendors such as L&T, CLSA said.

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