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MIDHANI (Mishra Dhatu Nigam Ltd) shares surged nearly 13% today to ₹475
MIDHANI (Mishra Dhatu Nigam Ltd) shares surged nearly 13% today to ₹475 after the Defence Acquisition Council (DAC) cleared ₹1.10 lakh crore worth of defence procurement proposals, boosting sentiment across defence PSUs. The rally follows strong Q1 FY27 results and new strategic approvals.
📈 Market Performance (as of Sept 8 2026)
Metric | Value | Change |
|---|---|---|
Share Price (NSE) | ₹475.30 | +13.19% |
Share Price (BSE) | ₹475.60 | +13.10% |
Volume | 16.5 million shares | High trading activity |
52‑Week Range | ₹266.70 – ₹479.30 | Near new high |
MIDHANI led the Nifty India Defence Index, rising 12.93% intraday, outperforming peers like HAL (+4%), Data Patterns (+6%), and Paras Defence (+3.4%).
🛡️ Catalysts Behind the Rally
DAC Approvals: The Defence Acquisition Council sanctioned ₹1.10 lakh crore in new procurement proposals, emphasizing indigenous manufacturing under “Make in India.”
Jefferies Coverage: Global brokerage Jefferies initiated coverage on select defence stocks, citing structural tailwinds and export potential.
Export Surge: Defence PSU exports rose 151% YoY in FY26, with MIDHANI among the key contributors.
Government Review: Defence Minister Rajnath Singh reviewed performance of 16 DPSUs, including MIDHANI, on Sept 1 2026, reinforcing focus on domestic capability.
💼 Recent Corporate Updates
Q1 FY27 Results:
Revenue: ₹239.49 crore (+40% YoY)
PAT: ₹16.31 crore (+27% YoY)
Order Book: ₹2,329 crore (as of July 1 2026)
EBITDA: ₹46.6 crore (+12.9%)
Compliance Fine: BSE & NSE imposed a ₹12.59 lakh penalty for board‑composition lapses; MIDHANI plans to seek a waiver citing Ministry of Defence appointment rules.
Vigilance Workshop: Conducted a campaign on “Probity for Prosperity” under CVC guidelines to strengthen governance.
Strategic Approval: MIDHANI secured S‑400 component certification from GE Aerospace, expanding its aerospace materials footprint.
🔮 Analyst & Sector Outlook
Bullish sentiment: Analysts expect 15–20% revenue growth in FY27, supported by titanium‑alloy expansion and defence‑export momentum.
Risks: Dependence on imported raw materials and long qualification cycles for aerospace projects.
Peers gaining: HAL, Solar Industries, and Data Patterns also advanced 3–7% amid the DAC‑driven rally.
📌 Quick Takeaway for Market Watch
MIDHANI remains a top PSU defence pick with strong fundamentals, a ₹2,300 crore order book, and clear policy support. The DAC approval and export surge have positioned it for sustained upside through FY27–FY28.
Educational content, not investment advice. Markets carry risk; read the disclosures on any Reco before you act on it.