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MUMBAI: Indian space-sector companies rallied ahead of the lunar touchdown of its Chandrayaan-3 spacecraft on Wednesday, which will potentially give a further boost to the nation’s space program.
Stocks of 13 companies that supply equipment ranging from electronics components to metal gears used in a rocket’s communication and navigation have added more than $2.5 billion in market value this week, according to data complied by Bloomberg.
The Chandrayaan-3 rocket of the Indian Space Research Organisation will attempt landing near the moon’s south pole on Wednesday evening, making the country first to reach the unchartered lunar territory after a similar attempt by Russia ended in a failure this month.
The gains among spacecraft suppliers are led by industrial gas firm Linde India that has risen more than 23% this week. Centum Electronics, which supplied critical modules and systems for the mission, advanced nearly 11%, while satellite communication provider Avantel, which counts ISRO among its customers, rose more than 12%.
Participating in critical projects such as the moon mission could open up opportunities for companies in the segment, said Kranthi Bathini, a strategist with Mumbai-based WealthMills Securities Pvt. They can be part of global projects going forward, and export their products and services, he said.
Stocks of 13 companies that supply equipment ranging from electronics components to metal gears used in a rocket’s communication and navigation have added more than $2.5 billion in market value this week, according to data complied by Bloomberg.
The Chandrayaan-3 rocket of the Indian Space Research Organisation will attempt landing near the moon’s south pole on Wednesday evening, making the country first to reach the unchartered lunar territory after a similar attempt by Russia ended in a failure this month.
The gains among spacecraft suppliers are led by industrial gas firm Linde India that has risen more than 23% this week. Centum Electronics, which supplied critical modules and systems for the mission, advanced nearly 11%, while satellite communication provider Avantel, which counts ISRO among its customers, rose more than 12%.
Participating in critical projects such as the moon mission could open up opportunities for companies in the segment, said Kranthi Bathini, a strategist with Mumbai-based WealthMills Securities Pvt. They can be part of global projects going forward, and export their products and services, he said.
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