News for Mishra Dhatu Nigam Limited (MIDHANI.BO)

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.

MISHRA DHATU NIGAM SHARES DOWN 3.7% IN PRE-OPEN TRADE AFTER FALL IN QTRLY PROFIT ...

IRCTC,, GIC of India, Brigade Enterprises, ITI, Adtiya Birla, EIH, NBCC, RR Kabel, Aster DM, Rites, Engineers India, PTC Industries, GNFC, Midhani and more will announce their Q4 results today.

HAL shares: Elara said HAL's order backlog has reached 186 LCA Tejas Mk-1A aircrafts and that LCA Tejas is set to become the second-largest fighter aircraft fleet at 225 in the Air Force after the Su-30.

Recently, the government relaxed foreign direct investment (FDI) norms for the space sector by allowing 100 per cent FDI in manufacture of components, systems or sub-systems for satellites, ground segments, and user segments. It also permitted 74 per cent FDI in satellite manufacturing and operation as well as satellite data products and 49 per cent in development of launch vehicles and spaceports. Following this, stocks of related companies saw an uptick on the bourses.

MoD signs MoU with BEML, BEL, and MIDHANI for advanced engine system development, boosting stock prices on NSE.

The selling in this space intensified this week after capital market regulator SEBI raised concerns over the steep run in the midcap and smallcap stocks and the unprecedented inflows that these funds have also seen in the last one year.

More than 500 companies across all sectors will be revealing their third quarter financial results next week.