A month ago, on 23rd August, there was an atmosphere of celebration in the entire country. India had shown the world that it is no less than any other country in space missions. Had made its power felt by making a safe landing of Chandrayaan on the South Pole of the Moon. After this success, shares of 13 space and defense companies of the country became rockets. Between July 20 and 24, these 13 companies had made a profit of Rs 31 thousand crore due to Chandrayaan worth Rs 615 crore.
The valuation of one of those companies, Centum, had increased. In 4 days, the company's shares had fallen by 26 percent and the market cap had increased by Rs 307 crore. Now after a month the company's shares are at a greater loss than that. Since then, the company's shares have seen a decline of more than 28 percent. Also, there has been a loss of more than Rs 700 crore in market cap. Let us also tell you what kind of figures are being seen in the stock market.
Company's shares sank more than 28 percent
Centum Technology's shares have seen a decline of more than 28 percent in the last one month. Chandrayaan 3 made a successful landing on 23 August. This happened after 6 pm. Its peak was seen in the stock market on August 24 and the company's shares reached a high of Rs 1970. Since then, there has been a continuous decline in the company's shares. Today i.e. on 22nd September, the company's shares reached the level of Rs 1425 during the trading session. This means that in about a month the company's shares have seen a decline of Rs 545 i.e. more than 28 percent. However, the company's shares are currently trading at Rs 1445 with a decline of 1.20 per cent at 1 pm.
How much loss did the company suffer?
During this period, the valuation of the company has also suffered a lot. Talking about the figures, on August 24, when the company's share was at Rs 1970, the market cap of the company had come to Rs 2,538.30 crore. Today, when the company's shares came to Rs 1425, the market cap came to Rs 1,836.08 crore. This means that there was a decline of Rs 702.22 crore in the market cap of the company. Centum Technology shares have given more than 100 percent returns to investors this year. If experts are to be believed, the space industry in the country is witnessing growth. Further increase in the company's shares will be seen in the coming days.
Had important contribution in Chandrayaan mission
Centum Technology has made an important contribution to Chandrayaan Mission. The company was a major industrial partner of ISRO for electronics on the Moon mission. The company had supplied modules and systems to prepare Chandrayaan.
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