Mishra Dhatu Nigam zooms 20%, hits new lifetime high on robust Q3 results

In the past three days, the stock has zoomed 31 per cent after reporting a more than three-fold jump in net profit at Rs 60.50 crore in December 2019 quarter.

Shares of Mishra Dhatu Nigam Limited (MIDHANI) rallied 20 per cent and hit a new high of Rs 216 on the BSE on Monday in an otherwise subdued market, on the back of heavy volumes.

The stock of the state-owned manufacturers of special steels superalloys and titanium alloys surpassed its previous high of Rs 187, recorded on Friday, February 14, 2020.

The trading volumes on the counter rose over nine times with a combined 6.99 million shares changing hands on the NSE and BSE till 11:22 am. There were pending buy orders for 285,624 shares on both the