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.

Earlier, Jindal Stainless Ltd, India's largest stainless-steel manufacturer, created a high-strength alloy steel for Chandrayaan-3's motor casing. Developed over 3 years, this heat-resistant grade aids ISRO by meeting quality standards, enhancing India's space endeavours.

On Thursday, shares of Jindal Stainless Ltd zoomed 1.50 per cent to make a new 52-week high of Rs 437.70 per share. The stock is hitting back-to-back 52-week highs in the recent trading sessions.

The net sales increased by 67.64 per cent to Rs 152.56 crore and net profit increased by 25.41 per cent to Rs 20.34 crore in Q1FY24 compared to Q1FY22. In FY23, the net sales increased by 78.18 per cent to Rs 573.75 crore and net profit increased by 69.89 crore compared to FY22.

Shares of the company have generated an impressive return of 300 per cent in the last two years.