President of India’s portfolio gains Rs 1,26,84,79,140 in a single day from this defence PSU stock; company bags order worth Rs 357 crore!

Company's total open order position currently stands at approximately Rs 1,750 crore.

Mishra Dhatu Nigam Limited (MIDHANI), a leading Indian defence PSU, has secured a significant order worth Rs 357 crore, further strengthening its order book for the current financial year (FY 2023-24). This latest win pushes MIDHANI's order booking for FY 2023-24 to an impressive Rs 1,100 crore, showcasing the company's continued momentum in the defence space.

Additionally, MIDHANI's total open order position currently stands at approximately Rs 1,750 crore, highlighting its strong pipeline of future contracts and potential for sustained growth. This robust order book provides stability and lays the foundation for future revenue generation and profitability.

The details of the specific order secured by MIDHANI haven't been disclosed yet. However, this latest development indicates the company's continued success in attracting major contracts in the Indian defence sector. MIDHANI has played a crucial role in several key defence projects, including the Chandrayaan-3 mission, and its expertise in special metals and alloys is highly valued by the Indian armed forces.

Mishra Dhatu Nigam Ltd (MIDHANI) has demonstrated commendable performance over the past one, three, and five years, showcasing a consistent upward trajectory. Over the one-year period, the company has delivered a robust growth of 73.27 per cent, reflecting its ability to navigate challenges effectively. The three-year performance, with an impressive increase of 101.53 per cent. Furthermore, the exceptional growth with multibagger returns of 248.27 per cent over the five-year span signifies the company's ability to capitalize on long-term opportunities and create substantial value for its stakeholders primarily the government of India which holds a 74 per cent stake in this company.

The President of India owns 13,86,31,600 shares or 74 per cent stake in the company. Today at the closing bell, the stock is up 9.15 points or 2.32 per cent.

Therefore, 13,86,31,600 shares x 9.15 per share = Rs 1,26,84,79,140 from this stock in just 1 day.

This is a Mid-Cap PSU company with a market capitalization of Rs 7,536 crore and currently trading at Rs 402. This stock has generated multibagger returns of 347.47 per cent in a decade.

About Company

Mishra Dhatu Nigam Ltd manufactures superalloys, titanium, special purpose steel and other special metals. It was incorporated in 1973 at Hyderabad as a Government of India Enterprise under the Ministry of Defence. Government of India still owns 74 per cent stake in the company after its IPO in 2018.

Disclaimer: The article is for informational purposes only and not investment advice.