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Last Updated : Jan 07, 2020 11:20 AM IST | Source: Moneycontrol.com

Mishra Dhatu Nigam share price rises 3% on ISRO's order for Gaganyaan

MIDHANI and ISRO have been working together over four decades and have developed critical input materials used in cryogenic engine, rocket motor casing, propellant tanks, etc.

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Shares of Mishra Dhatu Nigam gained 3.4 percent intraday on January 7 after the state-owned company delivered ultra high strength steel and cobalt alloys for ISRO's Gaganyaan.

The titanium alloys manufacturer said it had dispatched its first consignment of ultra high strength steel for ignitor box and cobalt alloy for throat sitting rings for indigenous manned mission of Indian Space Research Organisation (ISRO) 'Gaganyaan' which will carry 'Vyomanauts' to space.

MIDHANI, the major supplier of superalloys in India, has indigenously developed and supplied various special metals and alloys required for ISRO space programmes from its first mission and continue to support all the missions.

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In addition to above materials, MIDHANI said it would also supply titanium alloy materials for Gaganyaan's GSLV-Mark-III rocket liquid engine thrusters, nozzle, gas bottles, cryogenic upper stage components.

MIDHANI and ISRO have been working together over four decades and have developed critical input materials used in the cryogenic engine, rocket motor casing, propellant tanks, etc.

Company is in the process of establishing manufacturing facilities for carbon-fibre & 3D metal powder, Mishra Dhatu said.

"An aluminium alloy plant in a joint venture with NALCO at Nellore being set up under 'Make in India' initiative as a joint venture company 'Utkarsha Aluminium Dhatu Nigam Limited' would manufacture high-end aluminium alloy product such as sheets, plates, extrusions and forgings for strategic & commercial sectors," it added.

The stock was quoting at Rs 155.50, up Rs 2.70, or 1.77 percent on the BSE at 1101 hours IST.

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First Published on Jan 7, 2020 11:19 am
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