Mishra Dhatu Nigam (MIDHANI) on Friday announced that it has raised Rs 50 crore by allotting commercial papers to Union Bank on private placement basis.
In an exchange filing, Mishra Dhatu Nigam said that it has issued 1000 commercial papers of face value of Rs 5 lakh each.The tenure of papers is 90 days and the papers are rated A1+ by credit rating agency CRISIL.
MIDHANI is one of the leading manufacturers of super alloys, titanium & titanium alloys, special purpose steels and other special alloys. The Government of India held 74% stake in the company as of 31 March 2021.
On a consolidated basis, the company's net profit fell 1% to Rs 60.13 crore on a 9% decline in net sales to Rs 187.92 crore in Q3 FY21 over Q3 FY20.
Shares of MIDHANI fell 0.9% to Rs 192.25 on Friday.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app