Multibagger PSU Aerospace & Defence Stock Gets Sell Call, TP Rs 350: ICICI Securities

Leading brokerage house ICICI Securities has issued sell call to Miniratna PSU Mishra Dhatu Nigam Limited shares with target price of Rs 350 apiece. Current market price of Mishra Dhatu Nigam shares on BSE is Rs 427.10 apiece with intraday gain of 1.39%. The company has a market capitalisation of Rs 8001.29 crore.

Mishra Dhatu Nigam shares offered investors return of 113% in last 1-year and witnessed decline of 4.38% in last 1-week. Check details below:

Mishra Dhatu Nigam Shares Performance & Return Over Years: The 52-week high price of Mishra Dhatu Nigam shares on BSE is Rs 547.45 apiece and 52-week low price is Rs 172.80 apiece, respectively. Mishra Dhatu Nigam shares declined 19% in last 1-month, surged 14% in last 3-months, and gained merely 4% in last 6-months. In last 2-years, Mishra Dhatu Nigam stock zoomed 140% and 269% in last 5-years.

Mishra Dhatu Nigam Dividend In 2023: The company declared 1.67 per share dividend in 2023 and set record date as September 22, 2023. According to the BSE filing of Midhani, "Pursuant to Regulation 42 of SEBI Listing Regulations, we inform that, 'Record Date' for determining entitlement of Members to the final dividend for FY 2022-23, if declared at AGM, is fixed as Friday, September 22, 2023."

Mishra Dhatu Nigam Financials: The company for the quarter ended December 31, 2023 declared its net sales at Rs 251.98 crore, up 8.85% as compared to Rs 231.50 crore in the corresponding quarter of last year. Its net profit for December 2023 quarter came at Rs 12.49 crore, down 67.56% as against Rs 38.50 crore reported in the similar quarter of last year. The PSU announced its EBITDA at Rs 42.12 crore for the quarter under review, down 43.5% from Rs 74.55 crore in the similar quarter of last year. The company's PES declined to Rs 0.67 in December 2023 from Rs 2.06 in December 2022.

Mishra Dhatu About: Mishra Dhatu Nigam Limited (MIDHANI)was established in the year 1973 as a Government of India Enterprise under administrative control of Ministry of Defence. The production unit of MIDHANI, located at Kanchanbagh, Hyderabad, was commissioned in the year 1982. MIDHANI was set up with a view to achieve self-reliance in production and supply of various super alloys, special steels, soft magnetic alloys to Defence and other Strategic Sectors such as Energy, Space and Aeronautical applications.

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