Mishra Dhatu Nigam climbs 4% on order worth Rs 197 cr

State-owned Mishra Dhatu Nigam shares gained 4 percent intraday on June 13 on securing order worth about Rs 197 crore.

With this, the cumulative order book position of MIDHANI as on date is about Rs 1,900 crore.

Meanwhile, in FY19, the company achieved profit after tax of Rs 130.56 crore, falling marginally compared to previous year PAT of Rs 131.26 crore. Net turnover of Rs 710.85 crore for the year increased 7.43 percent compared to Rs 661.69 crore in the previous year.

After its FY19 earnings, MIDHANI had said it set ambitious targets for fiscal 2019-20 in areas of exports, import reduction and Al-based alloys design under ‘Make in India’ program of Government of India to become globally competitive.

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In terms of production target, it has set more than 15 percent growth in revenue in FY2019-20, it added.

The stock was quoting at Rs 129.00, up Rs 3.55, or 2.83 percent on the BSE, at 1435 hours IST.Subscribe to Moneycontrol Pro and gain access to curated markets data, exclusive trading recommendations, independent equity analysis, actionable investment ideas, nuanced takes on macro, corporate and policy actions, practical insights from market gurus and much more.

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