Mishra Dhatu finalizes order worth Rs. 600 crore

The shares of Mishra Dhatu Nigam Limited (MIDHANI) rose as high as 5.96 per cent after the company finalized an order worth Rs. 600 crore. The contract pertaining to the same will be signed shortly.

MIDHANI is a state-owned enterprise responsible for making India self-reliant in strategic materials. In its 30 plus years of operations, the company has achieved a prime position in indigenization of critical technologies and products to extend support to numerous programmes concerning the nation and hi-tech segments of various industries. MIDHANI now caters to the unique requirements of customers for their critical applications by offering them its custom made alloys.

Meanwhile, metal stocks recovered after heightened volatility in the month of December. The Nifty Metal Index opened at 3,211.70 and closed at 3,211.15, up by 0.41 per cent. Most stocks on the Metals index including SAIL, Hindustan Zinc, NMDC, JSW Steel and Hindalco closed higher up by 2.26 per cent, 1.98 per cent, 1.57 per cent, 1.33 per cent and 1.04 per cent, respectively. While index heavyweights Vedanta, Coal India were trading in red.

On Wednesday, the shares of MIDHANI opened at Rs. 120.00, and hit a high and low of Rs. 128.00 and Rs. 120.00, respectively. The stock closed at Rs. 123.70, up by 2.40 per cent on BSE.