News for Mishra Dhatu Nigam Limited (MIDHANI.BO)

Defence Minister Rajnath Singh praised the defence industry's role in Operation Sindoor. DPSUs presented an interim dividend of Rs 2,138 crore. Hindustan Aeronautics Limited gave the first cheque of Rs 1,197.75 crore. Singh urged DPSUs to enhance production and R&D. He emphasized timely product delivery and increased exports. HAL received Maharatna status and Mazagon Dock Shipbuilders got Navratna status.

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India Business News: Defence sector stocks surged following India's counter-terror operations, with Paras Defence leading the rally at 18.90%. Operation Sindoor, launched

Other companies, such as Mazagon Dock Shipbuilders and Solar Industries, have also played a significant role in the overall market cap gain, contributing Rs 9,971 crore and Rs 6,859 crore, respectively.

Equity benchmark indices staged volatility amid geopolitical situation after opening positive as retail inflation eased to a nearly six-year low of 3.16 per cent in April.

India Business News: Defence stocks surged, mirroring broader market optimism fueled by expectations of increased government focus. Axiscades Technologies and Data Pattern

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