Midhani hit the upper circuit of 20 per cent at Rs 253, also its new high on the BSE on Thursday on heavy volumes. In the process, it surpassed its previous high of Rs 249
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.
Midhani has mastered the processes and production of hundreds of alloys based on nickel to tungsten in the past 40 years
The stock rallied 8% to Rs 137, extending its 11% gain in past six trading days after the company on Wednesday said that it has finalised an order worth about Rs 6 billion.
Mishra Dhatu Nigam (Midhani) was up 18% to Rs 132 at 12:29 pm on the BSE, surging 42% in past two trading sessions from Rs 92.95 on Thursday