First it earned billions due to Chandrayaan, now this company has earned 1100 crores by climbing the Sun, know how?

First Chandrayaan 3, now Aditya L1 and then the shares of MTAR Technologies Limited, which is working for Gaganyaan, are seeing a continuous rise. On Friday, the company's stock ran with a speed of 15 percent. Due to which there has been a tremendous increase in the market cap of the company.

A day before the launch of India's first solar mission, Aditya L1, which began on September 2, shares of MTAR Technologies Ltd saw a sharp rise on Friday. Due to which the market cap of the company saw an increase of more than Rs 1100 crore. The company produces high-tech products like Liquid Propulsion Rocket Engine for PSLV and GSLV (Vikas Engine for PSLV), Cryogenic Engine Sub System, Electro-Pneumatic Module etc.

The company is also working on Gaganyaan

According to MTAR Tech, these products are being used for the Aditya L1 mission. It is also manufacturing critical structures like grid fins for the Gaganyaan mission. After the success of Chandrayaan-3, the share price of the company is very high. MTAR Tech also made key parts of the rocket engine and core pumps of the cryogenic engine for Chandrayaan-3.

Company's shares at record level

According to the data received from BSE, the company's stock increased by 14.75 percent to reach a 52-week high of Rs 2,817.75 on Friday, September 1. After the stock market closed, the company's shares increased by 10.97 percent and closed at Rs 2,724.90. The company has recently received 'Defence Industrial License' for the production of several mechanical and electronic subsystems. MTAR Tech said that this will make it easier to trade with foreign multinational companies on various defense projects.

Earning of Rs 1100 crore in a few hours

When the company's shares started rising on Friday, within a few hours the company's shares reached a record high of Rs 2,817.75 and the company market cap came to Rs 8,667.28 crore. Whereas a day earlier i.e. on Thursday, the company's share was at Rs 7,553.01 crore. This means that the market cap of the company increased by Rs 1,114.27 crore in a few hours.

What is the target of the company

MTAR Tech received new orders worth Rs 50 crore in the first quarter of the current financial year, Rs 175 crore in the first quarter of FY23 and Rs 1066 crore in the full financial year. The total order book at the end of June quarter was Rs 1,079 crore, compared to Rs 1,173 crore at the end of March quarter. The management maintained its FY2024-end order book target at Rs 1,500 crore.

MTAR has seven strategically located manufacturing units, including one export oriented unit based in Hyderabad, Telangana. MTAR works in Clean Energy – Civil Nuclear Power, Fuel Cell, Hydro Power, Space and Defense sectors. The company has an association of over four decades with leading Indian organizations and global OEMs.