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Midhani: Atmanirbhar Bharat and orders from defence provide opportunities

OFS from Midhani will keep the share price in check for the short term

November 25, 2020 / 09:26 AM IST
Midhani: Atmanirbhar Bharat and orders from defence provide opportunities

File image of India's Akash surface-to-air missile

PRO Only Highlights
Quarterly performance largely backed by improved realisations
Medium-term triggers China plus and protectionist measures for tyre industry
Valuations not inexpensive; but improved medium-term outlook

Mishra Dhatu Nigam (Midhani; CMP: Rs 189; Market capitalization: Rs 3,545 crore) is a public sector undertaking (PSU) in which the Government of India holds a 74 percent stake. It is engaged in the business of manufacturing special steel, super alloys and titanium alloys for defence, aerospace and other high-end engineering sectors. While the company had a challenging first quarter, going forward it stands to gain from the government’s Atmanirbhar Bharat drive to manufacture defence equipment in India. The company’s...

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