HAL, MTAR, BHEL shares: More steam left in these stocks post Chandrayaan-3 success?

India's 'Chandrayaan-3' landed on moon on Wednesday and scripted history as India became the first country to have a successful soft-landing on the south pole of Earth's only natural satellite, while overall it became the fourth nation to land there. ISRO's historic success also included some contributions by a host of domestic listed entities. Shares of at least nine listed companies that contributed to India's successful moon mission or have exposure to the space segment saw their combined market capitalisation (m-cap) jumping over Rs 35,000 crore even since Chandrayaan-3 entered the Lunar orbit on August 5. A host of widely known and blue-chip companies worked behind the curtains as silent warriors. These stocks have consistently rewarded the shareholders and a number of analysts see more steam left in these companies. Majority of them have a positive view from analysts in both short and longer run. MTAR Technologies, which made core parts of the rocket engines and core pumps of cryogenic engines required for take-off of Chandrayaan, has a buy rating from both Nuvama Institutional Equities and JM Financial with a target price of Rs 2,450 and Rs 2,700, respectively. The former one was hit on Thursday. Larsen & Toubro (L&T) made critical booster segments and did system integration and proof pressure testing for the 'Chandrayaan-3' at its facility in Powai, while state-run Hindustan Aeronautics (HAL) worked on development of lander and key mechanical support equipment. Bharat Heavy Electricals (BHEL)  supplied the 100th battery pack to ISRO for 'Chandrayaan-3'. CLSA said India’s Chandrayaan 3's soft landing on moon -- the first globally on the South Pole and fourth country overall, and that at a third of the global average cost, should strengthen the ‘Make in India’ theme. It would open up global rocket, launch and satellite markets for Indian players such as Larsen & Toubro (L&T), the foreign brokerage said. For L&T, CLSA has a 'Buy' rating with a target of Rs 3,080, while its pegs HAL at Rs 4,110 apiece. However, it has a 'sell' rating on BHEL with a target price of Rs 78. Prabhudas Lilladher has kept its 'reduce 'rating on BHEL with target of Rs 6. A 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, said Santosh Meena, Head of Research at Swastika Investmart. "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," he added. In an interview with Business Today TV, Hemang Jani, Stock market expert picked Bharat Forge, Bharat Electronics, Larsen & Toubro, BHEL. Commenting on MTAR Technologies and Paras Defence, Jani said that investors should wait for some correction to enter these stocks. Bharat Electronics (BEL) supported Chandryaan3's payloads, while Mishra Dhatu Nigam (Midhani) worked towards critical materials such as Cobalt and Nickel base alloys and special steel for various components. ICICI Securities has a 'buy' rating on BEL with target price of Rs 150, while ICICIDirect suggested a similar rating on Midhani with a target price of Rs 465 apiece. Centum Electronics, Walchandnagar Industries, Taneja Aerospace and Electrosteel Castings were some of the other listed entities which supported the success of 'Chandrayaan-3' in different capacities. However, not many of these stocks are widely tracked by the experts. Many stocks belonging to the aerospace and defence sector, surged up to 17 per cent following Vikram Lander's successful soft landing on moon. The shares of Avantel, a satellite communication firm, have gained about 50 per cent from its close on August 4. Industrial gas firm Linde India was also buzzing on the street. Antique had a 'buy' rating on the stock but its target price has been met. A few unlisted entities including Godrej Aerospace, which supplied hardware liquid propulsion engines and satellite thrusters, and Tata Advanced Systems, the manufacturer of Chandrayan 3’s lander, were also behind the success of the mission by ISRO.