MIDHANI Rebounds After ₹122 Cr Order Sparks Bullishness

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Mishra Dhatu Nigam snaps a one-month correction as fresh defence-linked orders boost revenue visibility and analyst confidence.

By S JHA

Mumbai, December 19, 2025 — Shares of Mishra Dhatu on Friday closed with gains, reversing a correction seen in the past one month. The stock gained 1.75% on Friday, while losing almost 15% in a month. The brokerages are now sounding bullish on the stock on the back of a fresh order gain.

“Mishra Dhatu Nigam (MIDHANI) has secured an order worth ₹121.75 crore,” said ICICI Direct in a research note, giving a positive coverage to the stock in its research paper.

Arguing rationale for positive coverage, the brokerage stated that “with the latest order, the company’s order backlog stands at ₹2,520 crore, which provides medium-term revenue growth visibility.” “The company’s order inflows thus far in FY26 are estimated at ₹1,100 crore,” it added.

The brokerage also stated that the “company’s management has estimated total order inflows of ₹1,300 crore in FY26. Longer-term order pipeline also remains strong in both domestic and exports markets across segments like defence, space, energy, railways, and civil aviation.”

Mishra Dhatu Nigam is a metals and alloys manufacturing facility that operates as a Public Sector Undertaking (PSU) under the Department of Defence Production, Ministry of Defence. “The company specialises in manufacturing a range of superalloys, titanium, and other special metals and alloys, serving diverse sectors such as aerospace, defence, atomic energy, and power generation,” added the brokerage.

(Disclaimer: This article makes no recommendation for buy or sell of shares of any company)