MIDHANI gains after HDFC MF hikes stake

Mishra Dhatu Nigam (MIDHANI) rose 1.02% to Rs 203.15 after HDFC Mutual Fund hiked its stake in the firm by 2.03%.

As on 7 January 2021 the aggregate holding of HDFC Mutual Fund schemes in MIDHANI has increased to 9.13% from 7.10% earlier. The transaction took place in open market. The disclosure was made on Saturday, 8 January 2021.

MIDHANI's consolidated net profit fell 5.8% to Rs 32.52 crore on a 3.7% decline in net sales to Rs 162.93 crore in Q2 September 2020 over Q2 September 2019.

MIDHANI is one of the leading manufacturers of superalloys, titanium & titanium alloys, special purpose steels and other special alloys. The Government of India held 74% stake in the company as of 30 September 2020.

 

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