LT, HAL, BHEL to MTAR Tech: Experts recommend these stocks to buy today after Chandrayaan-3 landing

India's successful landing of Chandrayaan-3 on the moon's south pole has positioned the country as the fourth nation to achieve this feat and is expected to boost its contribution to the global space market from 3% to 10% in the next decade

Asit Manohar
First Published24 Aug 2023, 10:46 AM IST
Stocks to buy today: Defense and space stocks, such as L&T, HAL, and MTAR Technologies, are recommended for long-term investment following the milestone achievement.
Stocks to buy today: Defense and space stocks, such as L&T, HAL, and MTAR Technologies, are recommended for long-term investment following the milestone achievement.

Chandrayaan-3 landing: After successful landing of Chandrayaan-3 on south pole of moon, India has become fourth country in the world to achieve this feat after Russia, US and China. While it is a matter of pride for the entire nation, it has opened some avenue for revenue in future as well. According to experts, Chandrayaan-3 soft landing on moon is quite cheaper in comparison to other countries and it is going to enhance Indian contribution in global space market from around 3 per cent to the tune of 10 per cent in next decade. They also said that around 13 listed Indian companies would be the major beneficiaries of this emerging business in space. Those companies include Larsen & Turbo (LT), Bharat Heavy Electricals Ltd (BHEL), Centrum Electronics, Hindustan Aeronautics Ltd (HAL), Linde India, Paras Defence, etc. However, Indian stock market experts also maintained that some defence stocks would also benefit from this successful Chandrayaan-3 soft landing on moon.

Push to space business

Expecting rise in India's contribution in global space economy, Mukesh Kochar, National Head - Wealth Management at AUM Capital said, "India currently contributes around 2-3% to the global space economy and it is expected to contribute around 8-10% in the next 8-10 years. This will establish India as a cost-effective satellite launcher and a global opportunity may emerge. Sectors like aerospace & defence will get a boost. There are around 140 registered space startups in India. These startups should attract a lot of investments after the success of this remarkable journey. The budgetary allocation is also expected to increase going forward. So overall this will give a boost to the Indian economy."

Benefit for Indian stock market

On how stock market investors can make money out of this milestone achieved by Indian Space and Research Organisation (ISRO), Sandeep Pandey, Director at Basav Capital said, "Currently, Inidia is a $3 trillion economy and it is aiming to become a $5 trillion economy. To achieve this set by Indian Prime Minister Narendra Modi, we need to tap such markets where there is huge scope for growth. So, expansion of the space business in India is going to happen in coming decade as India's Chandrayaan-3 mission is comparatively quite dcheaper than its cometitors and it was said by ISRO scientists as well. So, other countries who use to launch their space from the Russia, US or China may prefer to launch their spacecrafts from India."

Former Deputy Vice President at HDFC Bank said that around 15 listed Indian companies are going to benefit in terms of rise in their order book and hence long term investors may think of buying such company's stocks and reap monetary benefit from Chandrayaan-3 success.

Stocks to buy today

On stocks that one can look at for buying (but for long term), Anuj Gupta, market expert at HDFC Securities said, "After the successful soft landing of Chandrayaan-3 on moon, defense and space stocks are expected to reap benefit in long term and one can look at stocks like L&T, L&T Tech, Walchandnagar Industries, Bharat Forge, Astra Microwave Products, Avantel, Linde India, HAL, MTAR Technologies, BEL and BHEL for long term perspective."

Investment strategy after Chandrayaan-3 landing

On how to choose a stock and reap monetary benefit from Chandrayaan-3 landing, Sandeep Pandey of Basav Capital said, "One need to look at the order book and balance sheet together while finding out a potential stock to buy after success of Chandrayaan-3 success. Only rise in order book may not be enough as free cash flow holds key for higher returns and strong fundamentals."

Chandrayaan-3 news: Stocks of 13 Indian companies rally ahead of landing, add $2.5 billion

On intraday trading strategy after Chandrayaan-3 soft landing, Santosh Meena, Head of Research at Swastika Investmart said, "The successful landing of Chandrayaan-3 is likely to generate positive sentiment for these companies, potentially boosting their stock prices. Despite the short-term gains, the overall long-term outlook for these counters remains bullish. Investors would be wise to maintain their positions, viewing any profit booking as a chance for long-term entry. However, for traders, chasing these stocks immediately after the event might not be advisable. Waiting for potential profit booking could offer more favorable entry points, aligning with a strategic long-term investment approach. HAL, L&T and MTAR technologies are our preferred bet."

Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before taking any investment decisions.

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$5 M

394,000

$112 B

12.1%

₹133.50 Cr

₹12,300 Cr

$136 M

First Published:24 Aug 2023, 10:46 AM IST
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