ICICI Direct has given Hold recommendation for Mishra Dhatu Nigam with a target price of Rs. 200 in its research report issued on Aug 22, 2022

ICICI Direct’s research report on Mishra Dhatu Nigam

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 superalloys, titanium and titanium alloys, special purpose steels and other special alloys.

Outlook

We maintain our HOLD rating on the stock. We value Midhani at Rs 200, 18x FY24E EPS.

More Info

At 15:13 hrs Mishra Dhatu Nigam Ltd. was quoting at Rs 190.00, up Rs 4.95, or 2.67 percent.

It has touched an intraday high of Rs 191.05 and an intraday low of Rs 184.00.

It was trading with volumes of 18,110 shares, compared to its thirty day average of 13,129 shares, an increase of 37.93 percent.

In the previous trading session, the share closed down 2.45 percent or Rs 4.65 at Rs 185.05.

The share touched its 52-week high Rs 214.35 and 52-week low Rs 155.65 on 25 April, 2022 and 20 June, 2022, respectively.

Currently, it is trading 11.36 percent below its 52-week high and 22.07 percent above its 52-week low.

Market capitalisation stands at Rs 3,559.59 crore.

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