Multibagger Defence Stock Hits 52-Week-High On Securing Order Worth Rs 178.54 Crore

Aerospace & Defence company, Mishra Dhatu Nigam Limited (MIDHANI) has informed that the company has secured an order worth Rs 178.54 Crore. The company also informed that it had an order backlog totalling Rs. 1622.5 crore.

"In terms of Regulation 30 of SEBI LODR, we here by inform you that, Mishra Dhatu Nigam Limited (MIDHANI) has secured an order worth of Rs. 178.54 Cr.," the company said in an exchange filing.

It added, "With this, the order booking position for FY 2023-24 (as on date) is Rs. 542 Cr. The open order position of MIDHANI as on date is Rs. 1622.5 Cr."

On Tuesday, in the early trade session, the shares of MIDHANI hit a 52-week-high at Rs 349.75 apiece, currently trading at Rs 344.40 apiece on BSE, up 2.26% from the previous close. The stock's 52-week-low is Rs 167.50 apiece.

The stock has delivered a strong return of 10.27% to its shareholders in the last 1 week, while in the past 3 and 6 months, it has delivered 68.03% robust return in 3 months and 68.44% in 6 months.

It has delivered a multibagger return of 101.05% to shareholders in the last 1 year. Whereas, in the last 2 and 3 years, it has delivered 80.87% positive returns and 72.03% positive returns to shareholders. In 5 years, it has delivered 146.29% positive return.

This is a midcap PSU stock operating in the Defence sector. The market capitalisation of the company is Rs 6,451.99 crore.

Mishra Dhatu Nigam Limited (MIDHANI) is a Miniratna CPSE engaged in the manufacturing of a variety of superalloys, special-purpose steels, titanium and titanium alloys, controlled-expansion alloys, electrical-resistance alloys, soft magnetic alloys, molybdenum products, and other special products made as per customer specifications.