Introduction

After Chandrayaan 3, the Indian Space Research Organisation (ISRO) successfully launched its ambitious Aditya L1 mission on September 2, 2023. Aditya L1 is India’s first solar mission to study the Sun’s corona, chromosphere, and photosphere. It took off from Satish Dhawan Space Centre in Sriharikota onboard a Polar Satellite Launch Vehicle (PSLV) carrying seven scientific payloads. The spacecraft will travel about 1.5 million km from the Earth over four months. It will be stationed in a Halo orbit around Lagrangian point 1 (L1), closest to the Sun.

What is the budget of the Aditya L1 mission?

First conceptualized in 2008, the Aditya L1 mission has faced repeated delays due to budget crunch. ISRO initially planned to launch a low-cost 400 kg satellite in 800km low Earth orbit. The mission was named Aditya-1, which aimed to observe only the Sun’s corona. However, ISRO later planned to position the satellite around L1. This point offers the advantage of studying the Sun without being interrupted by eclipses or other disturbances. Hence, the mission was named as Aditya L1. The budget of the present-day mission stands at a whopping Rs. 378.53 crores, excluding the cost of launching. It includes expenses related to research, development, testing, equipment and expertise to study the Sun’s corona.

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Listed companies that contributed to the success of the Aditya L1 mission

Many companies have contributed to the successful launch of India’s maiden Sun voyage. Let’s have a look at a few of them.

• MTAR Technologies

The share price of MTAR Technologies spiked sharply on September 4, 2023, and touched a 52-week high at Rs. 2,877 per share.

MTAR Technologies is playing a pivotal role in the space sector. It provides high-tech products for Geosynchronous Satellite Launch Vehicle (GSLV) and Polar Satellite Launch Vehicle (PSLV). The products include cryogenic engine sub-systems, liquid propulsion rocket engines, electro-pneumatic modules, and more used in the Aditya L1 mission.

• Larsen and Toubro (L&T)

The share price of Larsen and Toubro touched the day’s high of Rs. 2,742.45 on September 4, 2023, two days after the launch of the solar mission.

L&T has been associated with ISRO for fifty years, thanks to its launch vehicle hardware and deep space network expertise. It is one of India's largest and most reputed private sector companies. Headquartered in Mumbai, L&T has played a crucial role in the Chandrayaan mission and collaborates with ISRO in the Gaganyaan mission. L&T provided critical space-grade hardware components for the Aditya L1 mission.

• Mishra Dhatu Nigam Ltd.

The share price of Mishra Dhatu Nigam Ltd touched a 52-week high at Rs.435.85 on September 4, 2023.

Mishra Dhatu Nigam Ltd is a state-owned company under the Ministry of Defence. It manufactures high-performance titanium alloys, superalloys and high-strength steels. The share price of Mishra Dhatu Nigam Ltd touched a 52-week high at Rs.435.85 two days after the launch of Aditya L1. The company’s share price rose after it announced that it supplied specialized metals and alloys for India's solar mission.

PSLV-C57, which is Aditya L1's launch vehicle, had critical materials supplied by the company as per an exchange filing. It included critical materials like C-103 niobium alloy, superco 605 cobalt alloy, Ti-6Al-4V titanium alloy, and ultra-high-strength steel.

Conclusion

The Aditya L1 mission is a glorious chapter in the ISRO’s space journey. It will provide deeper insights into the Sun and space weather. Apart from L&T, Mishra Dhatu Nigam, and MTAR Technologies, companies like Bharat Heavy Electricals Ltd, Hindustan Aeronautics Ltd, Paras Defence, Walchandnagar Industries, and Centum Electronics also contributed to the Aditya L1 mission.

The successful launches of the Chandrayaan 3 and the Aditya L1 mission have also strengthened India’s place in the global rocket market. They have bolstered the trust in the ability of the private sector to contribute to the international space sector. As a result, investor interest has increased in the Indian space sector, garnering more funding for companies like L&T, MTAR Technologies and others.

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