MIDHANI shares jump after net profit more than doubles in second quarter

Mishra Dhatu Nigam shares surged over eight percent on Thursday, 12 November, after the defence public sector undertaking reported strong second-quarter results for the financial year 2027. The company's net profit more than doubled to twenty-eight crore rupees in the July-September quarter, compared with thirteen crore rupees during the same period last year. Revenue from operations increased by 41.1 percent year-on-year to 296 crore rupees, up from 210 crore rupees in the second quarter of the previous financial year.

Financial Performance

Earnings before interest, tax, depreciation and amortisation grew 51.6 percent to fifty crore rupees, while the operating margin improved by 120 basis points to 16.8 percent. The company's order book stood at 2,164 crore rupees as of 1 October 2026. For the first half of the financial year, turnover increased by 40.81 percent to 535.40 crore rupees, and profit after tax jumped 72.05 percent to 44.01 crore rupees compared to the previous year.

Market Movement

On the stock exchange, the share price opened at 422 rupees apiece on the Bombay Stock Exchange, touching an intraday high of 428.60 rupees and a low of 401 rupees. Sudeep Shah, Head of Technical and Derivatives Research at SBI Securities, noted that the stock has rebounded strongly from the 365 to 355 rupees zone and is trading above its key moving averages, supported by positive technical indicators.

Context

Defence public sector undertakings in India often experience significant stock price movements following quarterly earnings reports due to large order books and government backing. Technical analysts track moving averages and momentum indicators like the Relative Strength Index to gauge short-term buyer strength in market listings.