As the world counted down to the Indian lunar landing, stocks of 13 space-sector companies added over $2.5bn in market value, according to data from Bloomberg.
Module-supplier Centum Electronics rose almost 11% while satellite communicator provider Avantel has risen more than 12%.
The Chandrayaan-3 rocket, which derives its name from the Sanskrit for ‘mooncraft,’ successfully landed on the lunar south pole on Wednesday (23 August) after a failed attempt by Russia’s Luna-25 mission.
This is India’s second attempt to land on the south pole. While the Chandrayaan-2 was able to deploy, its lander later crashed.
The Chandrayaan-3 is expected to be functional for two weeks where it will run tests on the mineral composition of the moon’s surface – the landing also makes India the fourth country to land on the moon.
The Indian Space Research Organisation lists its objectives as:
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- To demonstrate Safe and Soft Landing on Lunar Surface
- To demonstrate Rover roving on the moon and
- To conduct in-situ scientific experiments.
The Chandrayaan-3 has the advantage of its adept integration of artificial intelligence (AI). With its predecessor, Chandrayaan-2, the AI-powered Pragyaan launch vehicle showcased the nation’s proficiency in harnessing cutting-edge technologies.