News for Mishra Dhatu Nigam Limited (MIDHANI.BO)

Mishra Dhatu Nigam share price: The defence PSU's stock jumped 5.34 per cent to hit a day high of Rs 287.05. Last checked, it was up 5.12 per cent at Rs 286.45. Despite the mentioned uptick, the scrip has slipped 16.43 per cent on a year-to-date (YTD) basis.

Stocks including RIL, Power Grid, Dr Reddy's Labs, Welspun Corp, M&M, Raymond, L&T, Ola Electric, PFC and Apollo Hospitals will be in the spotlight on Tuesday, March 25.

The stock ended higher ahead of the meeting of board of directors to consider interim dividend.

Stocks including Adani Enterprises, Wipro, Trent, Hyundai Motor, Avenue SuperMarts, NHPC, Mishra Dhatu Nigam and Raymond will be in the spotlight on Thursday, March 20.

Mishra Dhatu Nigam Ltd. on Tuesday said that it will pay interim dividend of Rs 0.75 against each share held by its investors. The board of directors at its meeting held on Tuesday approved declaration of interim dividend at the rate of 7.50% per equity share of Rs 10 each for the financial year 2024-25, according to the company's exchange filing.

NMDC paid a total dividend of Rs 7.25 per share worth Rs 1,685.11 crore in FY24, Rs 5.91 dividend in FY23 (Rs 1,098.98 crore) and Rs 14.74 per share dividend (Rs 1,474 crore) in FY22.

Mishra Dhatu Nigam Ltd. on Wednesday said that its board of directors will meet next week, on Thursday, to consider the proposal on an interim dividend.

The analysis revealed that nearly 96% (255) of low beta stocks have dropped by double digits from their 52-week peak, with 5% (13 stocks) falling over 50%.

PSU stocks such as Chennai Petroleum Corporation Ltd (CPCL), Mangalore Refinery and Petrochemicals Ltd (MRPL), Cochin Shipyard Ltd, MMTC Ltd, ITI Ltd and Oil India Ltd have led the losers, falling 47-59 per cent.

Data available from ACE Equity shows that Cochin Shipyard emerged as the best-performing PSU in 2024, delivering a stellar 134% return

PSU stocks, including RVNL, Cochin Shipyard, and Mazagon Dock, saw substantial growth in 2024, outperforming benchmark indices. Driven by low valuations, revenue visibility, and improved performance, some became multibaggers. However, Q1FY25 earnings disappointments led to a recent downturn. Analysts predict market volatility in 2025 but remain optimistic about PSU sectors tied to government spending.

In the Nifty 50 index, 24 stocks were trading in the green, while 26 stocks were trading in the red.

Share prices of Cochin Shipyard, Mazagon Dock Shipbuilders, Paras Defence, HAL, Garden Reach Shipbuilders, and Mishra Dhatu Nigam gained up to 3.32 per cent on the BSE

Midhani stock rose 5.09% intra day to Rs 441.30 against the previous close of Rs 419.90 on BSE. Market cap of the firm stood at Rs 8139.92 crore.

Uttar Pradesh is set to enhance its defence and space technology infrastructure with three new projects under the Defence Testing Infrastructure Scheme (DTIS). Located in Kanpur and Lucknow, these projects will address critical shortcomings in defence testing. Funded by the Union and state governments, they aim to boost indigenous defence production, with significant investments from MIDHANI, BEL, and HAL. The initiative supports advanced R&D, quality assurance, and the self-reliance mission.

Earlier in June, Adani Defence and Aerospace signed an agreement with French defence company Thales to boost the Make in India and Aatmanirbhar Bharat programmes.

Shares of PTC Industries, an Indian defense manufacturing company rose 5.2 per cent at Rs 11,753.95 per share on the BSE in Tuesday's early morning trades

Market fall on Tuesday impacted Nifty Midcap 100, Nifty Smallcap 100, and Nifty Microcap 250 indices. Midcap index fell by 7% to 49,623.10, Smallcap index dropped by 7% to 15,801.80, and Microcap saw 247 stocks in red.

Sectors pertaining to PSU sectors, railways, defence and aerospace will be on the radar of investors on Monday after the exit poll results as the Modi government is likely to get a third term.