Mishra Dhatu Nigam Limited (Midhani) witnessed its shares surge to a 52-week record high, soaring by 9.4% to Rs 345.6 on the BSE, following the acquisition of a new order worth 178.54 crores. The company stated that it has secured a total of 542 orders in FY 2023-24, with an open order position amounting to Rs 1,622.5 crore.
Midhani Shares Surge to 52-Week High on Acquisition of New Order
Midhani, a Government company operating in the Defense sector, specializes in the production of super alloys and magnetic alloys for strategic sectors, including energy, space, and aeronautical applications. With two plants, one in Hyderabad and the other in Rohtak, Midhani manufactures a range of products, including furnaces and bulletproof jackets.
Additionally, the company is involved in a joint venture, Utkarsh Aluminum Dhatu Nigam Limited (UADNL), with National Aluminum Company Limited (Nalco), producing high-end aluminum alloys. The long-term returns of Midhani have proven to be impressive, making it an attractive investment option in the defense industry.
