HAL, L&T, Paras Defence hit 52-week highs amid Chandrayaan-3 euphoria on Street

The euphoria surrounding India's historic moon landing on the south pole of the moon on Wednesday has yet to settle down, and defence and aerospace stocks are seemingly cashing in on the upbeat mood in the market on Thursday morning. Stocks like HAL, BHEL, L&T, Paras Defense, Centum Electronics, and Mishra Dhatu Nigam Ltd continued their run for the second day in succession as all of them hit a 52-week high in early trading hours on Thursday.

Here's how defence and aerospace stocks started their day on the BSE:

Hindustan Aeronautics Ltd 

A day after it hit a 52-week high, HAL repeated its feat to rise as high as Rs 4,138.80 trading ex-dividend.

The share hit a 52-week high of Rs 4,138.80 on Wednesday as well.

The cues for the company are good, given that the share is rising after trading ex dividend.

BHEL

Bharat Heavy Electricals Limited also hit its 52-week high on Wednesday and seems to be in a strong position today as well, trading as high as Rs 113.

The rise in the share followed its announcement that it had manufactured India’s first set of Catalysts for Selective Catalyst Reactors (SCR) for limiting NOx emissions from thermal power plants.

BHEL said in its BSE filing, "TSGENCO had placed an order for SCRs for 5x800 MW Yadadri TPS, MAHAGENCO for 1x660 MW Bhusawal TPS, WBPDCL for 1x660 MW Sagardighi TPS and NALCO for 1x18.5 MW Damanjodi TPS."

The share had hit a 52-week high of Rs 113.35 on Wednesday.  

Larsen & Toubro (L&T) 

L&T hit a 52-week high of Rs 2,767 in early trading on Thursday after the company announced that its power transmission and distribution business had secured new orders in the Middle East.

The company said that it has received an order to establish a 220kV Gas Insulated Substation and associated Transmission Lines in the United Arab Emirates.

It has also received orders to establish two new 132 kV substations from a public services infrastructure company in Dubai and to build a 220 kV overhead transmission line, the company said in its BSE filing.

It has also gotten an order in Kuwait for the turnkey construction of 4 new 132 kV substations in the Al Sabah Medical District. 

Paras Defence

Paras Defence and Space Technologies raced to a 52-week high of Rs 841.80 in early trading hours on Thursday.

The share closed at Rs 717.60 on Wednesday, while it opened at Rs 804.95 on Thursday before touching a 52-week high.

The company has contributed to the Chandrayaan-3 mission. 

Centum Electronics

The share of the company that designed and produced the electronic systems for space applications of Chandrayaan-3 also soared to a 52-week high of Rs 1,970 on Thursday morning.

The company's share has gained 27.17 per cent in the last five trading sessions, compared to a 1.19 per cent rise of Nifty 50 during the same period.  
 

Mishra Dhatu Nigam Ltd 

The share of the company that supplied critical materials for the launch vehicle of Chandrayaan-3 also hit its 52-week high of Rs 426.20.

It had also hit its 52-week high of Rs 416.40 on Wednesday.