Rs 1,622.5 crore order book: This multibagger aerospace & defense company played a pivotal role in Chandrayaan 3; hits fresh 52-week high!

Shares of the company gained about 100 per cent in the last six months.

Chandrayaan 3 is a historic move for the world, India and ISRO. After the successful launch of the mission Chandrayaan 3, the lander is expected to land on the Moon today. Amid the success of the launch, there is one such company that played a vital role in the mission ‘Mishra Dhatu Nigam Limited’ (MIDHANI). The stock was one of the Top Gainers on the BSE, which made a 52-week high of Rs 416.40.

The company developed and supplied critical materials for the LVM3 M4, a three-stage heavy lift launch vehicle used in the lunar mission. The LVM3 M4 requires several tonnes of materials, and MIDHANI has supplied Cobalt base alloys, Nickel base alloys, Titanium alloys, and Special steels for various components. These materials have been used in the liquid engine, nozzles for liquid stages, gas bottles, thrusters, cryogenic upper stage components, rocket motor casing, and propellant tanks.

MIDHANI and ISRO have enjoyed a fruitful partnership for over four decades, with MIDHANI's materials being integral to ISRO's space missions since inception.

The company recently informed in the exchange filing that the company has received an order worth Rs 178.54 crores. The company also informed about its total order book of Rs 1622.5 crore.

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Mishra Dhatu Nigam Limited (MIDHANI) manufactures a variety of superalloys, titanium and titanium alloys, special-purpose steels, controlled-expansion alloys, soft magnetic alloys, electrical-resistance alloys, molybdenum products, and other special products made as per customer specifications.

Mishra Dhatu Nigam Limited has also delivered multibagger returns to its shareholders in the last one year. During this period, shares of Mishra Dhatu Nigam Limited surged from Rs 190.15 on August 23, 2022, to Rs 408.15 on August 23, 2023, an increase of about 105 per cent in a one-year holding period.

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