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Out-of-this-world returns: How did the market value India's successful moon mission?

Author

Listed:
  • Azmi, Wajahat
  • Azmi, Shujaat Naeem
  • Nobanee, Haitham
  • Hamil, Philip Anthony

Abstract

This paper explores the response of India's stock market to a successful moon mission. The market responded positively, especially in the defense sector. Four companies experienced significant wealth gains, highlighting the potential for investment and growth in India's space industry.

Suggested Citation

  • Azmi, Wajahat & Azmi, Shujaat Naeem & Nobanee, Haitham & Hamil, Philip Anthony, 2024. "Out-of-this-world returns: How did the market value India's successful moon mission?," Economics Letters, Elsevier, vol. 234(C).
    • Handle: RePEc:eee:ecolet:v:234:y:2024:i:c:s0165176523005165
    DOI: 10.1016/j.econlet.2023.111490
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    References listed on IDEAS

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    1. Nobanee, Haitham & Azmi, Wajahat & Chakraborty, Dipanwita & Hamill, Philip Anthony & Nghiem, Xuan-Hoa, 2023. "Can we breathe a sigh of relief now? The impact of First Republic Bank takeover by JP Morgan on the US equity markets," Finance Research Letters, Elsevier, vol. 58(PB).
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    4. Laurence E. Blose & Robin Bornkamp & Marci Brier & Kendis Brown & Jerry Frederick, 1996. "Catastrophic events, contagion, and stock market efficiency: the case of the space shuttle challenger," Review of Financial Economics, John Wiley & Sons, vol. 5(2), pages 117-129.
    5. Dyckman, T & Philbrick, D & Stephan, J, 1984. "A Comparison Of Event Study Methodologies Using Daily Stock Returns - A Simulation Approach," Journal of Accounting Research, Wiley Blackwell, vol. 22, pages 1-30.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    Moon mission; Equity markets; India; Defence sector; Event study;
    All these keywords.

    JEL classification:

    • G15 - Financial Economics - - General Financial Markets - - - International Financial Markets
    • G24 - Financial Economics - - Financial Institutions and Services - - - Investment Banking; Venture Capital; Brokerage
    • L53 - Industrial Organization - - Regulation and Industrial Policy - - - Enterprise Policy

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