Rs 1,622.5 crore order book: After Chandryaan 3 this multibagger aerospace & defence company played a pivotal role in Aditya-L1; scrip hit 52-week high!

The stock gave multibagger returns of 112 per cent in just 6 months.

Mishra Dhatu Nigam Limited (MIDHANI), a Defence PSU, has played a vital role in the successful launch of the Aditya – L1 by ISRO on September 02, 2023, at 11.50 hrs. from Sriharikota, MIDHANI congratulates ISRO and takes immense pride in our contribution through the supply of specialized metals and alloys for this crucial project.

MIDHANI’s critical materials have been used in the Aditya-L1 launcher vehicle PSLV-C57 and many more components. The launcher was built with MIDHANI critical materials like Ti-6Al-4V Titanium alloy - PS4 Tank and Gas bottles, C-103 Niobium Alloy - PS4 thrust chamber, Superco 605 Cobalt Alloy - PS2 thrust chamber, Ultra High Strength Steel - Motor Case & 15CDv6 - strap on motor case and base rings.

MIDHANI has been steadfast in its commitment to supplying specialized materials to ISRO, from its very inception to the most recent projects. On this proud moment, Dr S. K. Jha, CMD, MIDHANI said that “India’s first Solar Mission Aditya-L1 successfully launched by ISRO brings more laurels to our nation and Atmanirbharta in space projects”

Mishra Dhatu Nigam Ltd (MIDHANI) 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. The Government of India still owns a 74 per cent stake in the company after its IPO in 2018. The open order position of MIDHANI as of date is Rs 1622.50 crore.

On Monday, shares of Mishra Dhatu Nigam Ltd surged 5.76 per cent to make a new 52-week high of Rs 435.30 per share from its previous closing of Rs 411.60.

The stock gave multibagger returns of 112 per cent in just 6 months and over 130 per cent in 2 years. Investors should keep an eye on this Mid-Cap PSU stock under the radar.

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