Space Stocks in India Add $2.5 Billion Ahead of Moon Landing
(Bloomberg) --
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%.Â
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.
More stories like this are available on bloomberg.com
©2023 Bloomberg L.P.
-
Blue Wave Will Derail the AI Trade but Won't Dismantle the AI Era | Unhedged Position
The Democrats' sweep of the US Congress will see politics collide with economic forces both over the long and short term.
-
It's Time To Take The GST Council's Bet On Trust Global
Payment records can prove India's services exports, and clear, proportionate rules can bring foreign digital sellers into the tax net.
-
Opinion | India at 38: From Innovation Overperformer to Innovation Powerhouse
India now has 453 VC-backed deep science startups, 18 of them late-stage, after 117 percent growth since 2020. Laurus Labs, at USD 9.3 billion, is the most valuable deep science company in any middle-income economy outside China.
-
Navigating Energy Crossroads: S Jaishankar's Call For Diversified Supply Chains At G20 Ministerial Meeting
As geopolitical fault lines continue to test maritime trade routes and commodity flows, Jaishankar's message remains pertinent: true economic resilience requires open markets, protected transit lines, and a genuine commitment to multilateral cooperation rather than coercion.
-
Indians Are Travelling, But Not Every Journey Is A Holiday | The Week In Whys
Pilgrims, patients and working women are the real travellers, and the system hasn't quite caught up with them.
-
Getting To Work Costs Women More | The Reason Why
It is not just about women paying more than men. It is about women paying much more in cities than in villages.
-
AI Bias In Investing Cannot Be Eliminated, But It Can Be Governed
Framing is a particularly important example as identical financial information presented in terms of gains rather than losses can lead an LLM to reach a different assessment.
-
Joining The Dots | Dark Skies, Steady Diya: Why Hope Holds This Diwali
With war, a weak rupee and foreign outflows weighing on sentiment, policymakers at the NDTV World Summit and market veterans at NDTV Profit Ignite: Diwali Edition offered the same advice: stay invested and filter out the noise.
-
The Curious Case of Equitas Small Finance Bank And A CEO Who Quit For Stock
PN Vasudevan believes persistent investor concerns over a perceived conflict of interest had become a governance overhang on Equitas Small Finance Bank's stock, even as the lender improved profitability and asset quality.
