Why are Mishra Dhatu Nigam (MIDHANI) shares up 8% today? Explained
Shares of Mishra Dhatu Nigam Ltd (MIDHANI) surged over 8% on Tuesday, July 15, touching ₹433.70 on the NSE, after news broke that Hindustan Aeronautics Limited (HAL) placed a massive ₹6,000 crore order with the company for the supply of superalloys. According to reports, including one from Alpha Defense, this strategic deal strengthens India's self-reliance in manufacturing jet engines for its fighter aircraft.
MIDHANI's stock opened strongly and hit a high of ₹434.55 during the session, compared to its previous close of ₹401.25. The market reacted positively to the order announcement, reflecting investor confidence in the company's role in powering India's defense manufacturing ambitions.
The order will see MIDHANI supply advanced nickel-based and cobalt-based superalloys enriched with elements such as chromium, titanium, and aluminum — crucial materials for high-performance engines like the AL31, which powers India's frontline Su-30MKI fighters. Superalloys are vital in aerospace because of their heat resistance, durability, and strength, and India's growing focus on indigenization makes this order significant.
The company's expertise in producing these materials positions it as a critical supplier, reducing India's dependence on imports and creating a robust domestic supply chain. HAL's order is also expected to support future engine programs like the GE F414 for Tejas Mk2 and the AMCA engine.
Market participants see this development as a strong signal of MIDHANI's expanding capabilities in India's defense sector, which explains the sharp uptick in the stock price today.
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Aditya Bhagchandani serves as the Senior Editor and Writer at Business Upturn, where he leads coverage across the Business, Finance, Corporate, and Stock Market segments. With a keen eye for detail and a commitment to journalistic integrity, he not only contributes insightful articles but also oversees editorial direction for the reporting team.
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