Midhani shares rise 5% on Rs 285-crore order win, check details

Shares of Hyderabad-based specialised metals and metal alloys manufacturer Mishra Dhatu Nigam Ltd (MIDHANI) surged 5% on Monday after the firm said it has won an order of Rs 285 crore. 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. Later, the stock closed 3.48% higher at Rs 434.50. 

"With this, the open order position of MIDHANI as of date is around Rs 2,098 crore," the state-run company said in a regulatory filing.

The stock is neither overbought nor oversold on charts, indicates its relative strength index (RSI). RSI of the stock stands at 35.2. 

The stock clocked a turnover of Rs 1.77 crore as 0.41 lakh shares changed hands on BSE today.

The stock has surged 26% from its 52-week low of Rs 345 hit on August 18, 3023. The stock has risen 11% in a year and gained 129% in two years. 

Mishra Dhatu Nigam is engaged in the business of manufacturing of superalloys, titanium, special purpose steel and other