Mishra Dhatu Nigam Ltd Share Price – NSE /  BSE

Aerospace & Defence, Small Cap

The domestic equity indices traded with limited losses in mid-afternoon trade. The Nifty traded below the 23,550 mark. Consumer durable shares advanced after declining in the past three consecutive trading sessions.

At 14:30 IST, the barometer index, the S&P BSE Sensex, was down 98.10 points or 0.13% to 77,592.85. The Nifty 50 index lost 25.30 points or 0.11% to 23,533.75.

The broader market outperformed the benchmark indices. The S&P BSE Mid-Cap index rose 0.38% and the S&P BSE Small-Cap index added 0.81%.

The market breadth was positive. On the BSE, 2,134 shares rose and 1,758 shares fell. A total of 103 shares were unchanged.

Economy:

The annual rate of inflation based on all India Wholesale Price Index (WPI) number is 2.36% (Provisional) for the month of October, 2024 (over October, 2023). Inflation in October, 2024 is primarily due to increase in prices of food articles, manufacture of food products, other manufacturing, manufacture of machinery & equipment, manufacture of motor vehicles, trailers & semi-trailers, etc.

The month-on-month change in WPI for October 2024 showed a rise of 0.97% compared to September 2024.

Buzzing Index:

The Nifty Consumer Durables index lost 0.17% to 38,616.60. The index declined 2.60% in the past three consecutive trading sessions.

Kalyan Jewellers India (down 2.94%), Crompton Greaves Consumer Electricals (down 2.35%), Titan Company (down 1.04%), V-Guard Industries (down 0.94%), Amber Enterprises India (down 0.24%) and Century Plyboards (India) (down 0.01%) slipped.

On the other hand, Cera Sanitaryware (up 3.6%), Blue Star (up 3.07%) and Rajesh Exports (up 1.67%) added.

Numbers to Track:

The yield on India's 10-year benchmark federal paper advanced 1.97% to 6.938 as compared with previous close 6.917.

In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 84.0475, compared with its close of 84.3950 during the previous trading session.

MCX Gold futures for 5 December 2024 settlement fell 0.92% to Rs 73,799.

The US Dollar index (DXY), which tracks the greenback's value against a basket of currencies, was up 0.18% to 106.67.

The United States 10-year bond yield added 0.36% to 4.469.

In the commodities market, Brent crude for November 2024 settlement lost 1 cent or 0.01% to $72.27 a barrel.

Stocks in spotlight:

Mishra Dhatu Nigam (MIDHANI) rallied 4.03% after the company's standalone net profit jumped 70.04% to Rs 23.55 crore on a 15.22% rise in revenue from operations to Rs 262.12crore in Q2 FY25 over Q2 FY24.

NIBE added 2.19% after the company’s consolidated net profit zoomed 218.63% to Rs 8.89 crore on 230.20% jump in revenue from operations to Rs 135.98 crore in Q2 FY25 over Q2 FY24.

Hindustan Aeronautics (HAL) rose 0.96%. The company’s consolidated net profit jumped 22.13% to Rs 1,510.48 crore on 6.04% increased in revenue from operations to Rs 5,976.29 crore in Q2 FY25 over Q2 FY24.

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Profit before tax (PBT) climbed 64.34% year on year to Rs 33.92 crore in the quarter ended 30 September 2024.

Total expense jumped 10.4% year on year to Rs 236.73 crore during the quarter. Cost of materials consumed was at Rs 116.61 crore (down 21.56% YoY) while employee benefits expense stood at Rs 35.06 crore (up 8.08% YoY) during the period under review.

Value of production (VoP) declined 7.78% to Rs 268.22 crore in Q2 FY25 as against Rs 290.84 crore posted in Q2 FY24.

The order book position of the company as on 1 October 2024 stood at Rs 1,819.89 crore.

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

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Net profit of Mishra Dhatu Nigam rose 69.06% to Rs 23.55 crore in the quarter ended September 2024 as against Rs 13.93 crore during the previous quarter ended September 2023. Sales rose 14.97% to Rs 256.42 crore in the quarter ended September 2024 as against Rs 223.03 crore during the previous quarter ended September 2023.

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Mishra Dhatu Nigam will hold a meeting of the Board of Directors of the Company on 13 November 2024

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