Market experts attributed the weakness to a combination of valuation concerns, liquidity pressures and profit booking.
The Nifty Defence index has shed nearly 3 per cent in November, with stocks such as BEML, MIDHANI and HAL among others falling up to 17% despite 1% gain on the Nifty 50.
Mishra Dhatu Nigam share price rose after the company announced that it has secured an order worth ₹306 crore.
Mishra Dhatu Nigam share price rose after the company announced that it has bagged an order worth ₹136 crore.
Paras Defence, Midhani were seen trading above the super trend line hurdle on the daily chart, thus implying a likely positive trend going ahead.
Mishra Dhatu Nigam share price rose after the company posted healthy results in the March quarter of financial year 2025 (Q4FY25) results.
The Defence Acquisition Council (DAC) accorded Acceptance of Necessity for five capital acquisition proposals worth over Rs 21,772 crore.
MIDHANI witnessed a decisive breakout in the last trading week, soaring nearly 8 percent. The counter has witnessed very strong traction its 21 DEMA after consolidating near the 20 DEMA
On Monday, the MoD signed a tripartite MoU with BEML, Bharat Electronics, and Mishra Dhatu Nigam for indigenous development of Advanced Fuelling and Control System for Engines
Shares of MIDHANI hit a record high of Rs 476.40, as they zoomed 17% on the BSE in Wednesday's intra-day trade and has recorded its sharpest intra-day rally since April 7, 2020.
With this, the order booking position for FY 2023-24 (as on date) is Rs 542 crore, Mishra Dhatu Nigam said in a statement
A lower allocation to Indian Space Research Organisation (Isro) could lead to a derating in the stock of the superalloys manufacturer, says an analyst
Going forward, as facilities ramp up production, additional revenue is expected is likely to flow from wide plate mill as well as the Rohtak plant, thereby providing healthy revenue visibility.
President Droupadi Murmu will on Tuesday inaugurate a wide plate mill of state-owned special steel manufacturer MIDHANI in Hyderabad. In a regulatory filing on Monday, Mishra Dhatu Nigam Limited (MIDHANI) said the plate mill was installed at its existing facility in Hyderabad at an investment of around Rs 500 crore for rolling of slabs of various alloys. "The wide plate mill will be inaugurated by President of India, Droupadi Murmu on December 27, 2022, in the presence of eminent dignitaries and distinguished guests," the filing said. The wide plate mill facility will meet the requirements of special steel plates for national strategic programmes and also facilitate import substitutes. "Due to its very high capacity of rolling force, this mill can roll ultra-high strength steel to very low thickness. Technology for processing of superalloys plates has been established in a very short span of time," the company said. MIDHANI, under the Ministry of Defence, is among the few modern .
Boeing India on Tuesday reportedly announced it would assess and collaborate with Midhani to develop raw materials for standard aerospace parts and components in India.
The defence procurement budget is likely to increase considerably for FY24E with the share of imports coming down further, according to analysts.
For the first nine months (April-December) of FY21, MIDHANI had posted an 8 per cent YoY decline in sales at Rs 464 crore
The government has already invited preliminary bids to sell its 26 per cent stake in BEML along with transfer of management control
The JV has been formed to set up 60,000 tonnes per annum high-end aluminium alloy production plant at Nellore, Andhra Pradesh
The company's board of directors is scheduled to meet on March 3 to consider interim dividend.