Chandrayaan-3 Lands on Moon Successfully, Impacting Defence Stocks’ Performance

India became the first country to explore the vast and uncharted South Pole of the Moon and Chandrayaan-3 successfully landed on the moon. We hope you all watched it live, either on television or mobile phones. 

Not only was Chandrayaan-3 in the limelight, but the Indian stock market also gained momentum on that day before the landing. Of course, it gave up all the gains yesterday as well as today. On both days, we saw a bearish sentiment in the broader markets.

So, why are we writing this article again and highlighting defence stocks that are directly or indirectly related to the Chandrayaan mission and upcoming space missions as announced by ISRO?

Well, these defence stocks gained momentum before Chandrayaan landed on the moon. While some of the stocks continued to rally the next day due to the successful landing, others gave up the gains, started trading negatively, and concluded the day in red.

In this article, we are going to analyse the stocks related to the said industry and their price momentum before and after Chandrayaan’s landing on the moon.

 Upon examining the data, it becomes evident that out of the eleven stocks mentioned, only five managed to close in the green on the very next day of landing, indicating a continuation of their positive momentum from the previous day. Conversely, the remaining six stocks concluded the day in the red, signalling a decline.

If we delve into the top performers, Centum Electronic stands out as the most significant gainer, with its stock closing 7.2% higher than its previous day’s closing price. On the other end of the spectrum, Linde India experienced the largest decline, falling by 2.58%.

Shifting our focus to today’s price data for these companies, the list of gainers has diminished from five to four, while the number of stocks in the losers’ column has risen to seven. Shares of Avantel Ltd emerged as the top performer during this period, marking a substantial gain of 9.4%. Additionally, Paras Defence and Centum Electronics also yielded impressive returns.

Conversely, BHEL and Walchandnagar Industries found themselves at the opposite end of the spectrum, emerging as the most substantial losers with declines of 3.97% and 3.88%, respectively.

This information is not investment advice, but rather an observation. In the future, India will undertake numerous space missions, and investors should consider keeping these stocks on their radar.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet, and is subject to changes. Please consult an expert before making related decisions.