PSU Miniratna Stock Sets Record Date For Dividend, Buy For 47% Return

PSU Miniratna status stock, operating in Metals-Ferrous sector, Mishra Dhatu Nigam Ltd fixed March 23, 2023 as the record date for interim dividend of Rs 1.68 per share for FY 2023. Meanwhile, ICICI Direct has recommended investors to buy Mishra Dhatu Nigam with target price of Rs 285 apiece and potential return of 47%. Last trading price of the mid cap stock is Rs 194.80 apiece on BSE. Check details below:

Mishra Dhatu Nigam Sets Record Date For Interim Dividend: According to the regulatory filing of Mishra Dhatu Nigam, "This is to inform you that, the Board of Directors of the Company at its meeting held today, i.e. 15th March, 2023 has inter-alia approved declaration of Interim Dividend Rs. 1.68/- per equity share (@16.80%) of Rs. 10/- each for the financial year 2022-23."

Mishra Dhatu Nigam Stock Performance & Return: The last trading price of Mishra Dhatu Nigam is Rs 194.80 apiece with intraday rally of 0.93% on BSE. Its 52-week high is Rs 268.85 apiece and 52-week low is Rs 155.65 apiece, respectively. Its market capitalisation is Rs 3,649.38 crore. The stock declined 15% in last 3-months and gave a return of over 14% in last 1-year. It soared 1.12% in last 2-years and fell 12% in last 3-years.

Mishra Dhatu Nigam Valuation: According to ICICI Direct in its brokerage report dated December 5, 2022, "Aided by a healthy demand environment from both defence and space segment, we expect a healthy pick-up in the topline, going forward. Hence, we upgrade the stock from HOLD to BUY." We value Midhani at Rs 285, 22x FY24E EPS.

Mishra Dhatu Nigam About: Mishra Dhatu Nigam (Midhani) is a leading manufacturer of special steel, super alloys and titanium alloys catering to niche end-user segments like space, defence, etc. Within the overall steel market, Midhani's area of focus is specialty steel. Midhani's product range includes super alloys, titanium and titanium alloys, special purpose steels and other special alloys.

Disclaimer: The stock has been picked from the brokerage report of ICICI Direct. Greynium Information Technologies, the Author, and the respective Brokerage House are not liable for any losses caused as a result of decisions based on the article. Goodreturns.in advises users to check with certified experts before taking any investment decision.