 "Mishra Dhatu Nigam extends rally on finalising contract worth of Rs 6-bn")
Shares of Mishra Dhatu Nigam(MIDHANI) rallied 8% to Rs 137, extending its 11% gain in past six trading days after the company on Wednesday said it has finalised order worth Rs 6 billion.
The contract for the same is expected to be signed shortly, MIDHANI said.
The company had the order book position of Rs 7.04 billion on 1st October 2018.
Mini-Ratna Defence PSU MIDHANI is one of the leading manufacturers of special steels, superalloys and the only manufacturer of titanium alloys in India. These are high-value products cater to niche end-user segments such as defence space and power. The company was established in the year 1973 with an aim of achieving self-reliance in the research development and supply of critical alloys and products of national security and strategic importance.
At 09:57 am, MIDHANI was trading 6% higher at Rs 135 on BSE, as compared to a 0.17% decline in the S&P BSE Sensex. The trading volumes on the counter almost doubled with a combined 585,551 equity shares changed hands on the BSE and NSE so far.
The contract for the same is expected to be signed shortly, MIDHANI said.
The company had the order book position of Rs 7.04 billion on 1st October 2018.
Mini-Ratna Defence PSU MIDHANI is one of the leading manufacturers of special steels, superalloys and the only manufacturer of titanium alloys in India. These are high-value products cater to niche end-user segments such as defence space and power. The company was established in the year 1973 with an aim of achieving self-reliance in the research development and supply of critical alloys and products of national security and strategic importance.
At 09:57 am, MIDHANI was trading 6% higher at Rs 135 on BSE, as compared to a 0.17% decline in the S&P BSE Sensex. The trading volumes on the counter almost doubled with a combined 585,551 equity shares changed hands on the BSE and NSE so far.
