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Hot Pursuit
23-Jul-24
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Aerospace shares advance on Rs 1,000-cr boost for space economy by Govt
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Shares of aerospace companies gained after the Finance Minister announced a capital boost of Rs 1000 crore for space economy, with the govt’s continued emphasis on expanding it by 5 times in the next ten years.
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MTAR Technologies (up 1.60%), Zen Technologies (up 1.42%), Paras Defence and Space Technologies (up 0.98%), Centum Electronics (up 0.96%), Hindustan Aeronautics (up 0.15%), Apollo Micro Systems (up 0.13%) advanced.
The Finance Minister stated that there will be a continued emphasis on expanding the space economy by five times over the next 10 years. To support this goal, a venture capital fund of Rs 1,000 crore will be established.
Finance Minister, Nirmala Sitharaman is presenting the first Union Budget of the Modi 3.0 government and her 7th consecutive one during the Monsoon Session of Parliament.
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