(Mishra Dhatu Nigam Ltd) shares surged nearly 13% today

MIDHANI (Mishra Dhatu Nigam Ltd) shares surged nearly 13% today to ₹475 after the Defence Acquisition Council (DAC) cleared ₹1.10 lakh crore worth of defence procurement proposals, boosting sentiment across defence PSUs. The rally follows strong Q1 FY27 results and new strategic approvals. 📈 Market Performance (as of Sept 8 2026) Metric Value Change Share Price (NSE) ₹475.30 +13.19% Share Price (BSE) ₹475.60 +13.10% Volume 16.5 million shares High trading activity 52‑Week Range ₹266.70 – ₹479.30 Near new high MIDHANI led the Nifty India Defence Index, rising 12.93% intraday, outperforming peers like HAL (+4%), Data Patterns (+6%), and Paras Defence (+3.4%). 🛡️ Catalysts Behind the Rally DAC Approvals: The Defence Acquisition Council sanctioned ₹1.10 lakh crore in new procurement proposals, emphasizing indigenous manufacturing under “Make in India.” Jefferies Coverage: Global brokerage Jefferies initiated coverage on select defence stocks, citing structural tailwinds and export potential. Export Surge: Defence PSU exports rose 151% YoY in FY26, with MIDHANI among the key contributors. Government Review: Defence Minister Rajnath Singh reviewed performance of 16 DPSUs, including MIDHANI, on Sept 1 2026, reinforcing focus on domestic capability. 💼 Recent Corporate Updates Q1 FY27 Results: Revenue: ₹239.49 crore (+40% YoY) PAT: ₹16.31 crore (+27% YoY) Order Book: ₹2,329 crore (as of July 1 2026) EBITDA: ₹46.6 crore (+12.9%) Compliance Fine: BSE & NSE imposed a ₹12.59 lakh penalty for board‑composition lapses; MIDHANI plans to seek a waiver citing Ministry of Defence appointment rules. Vigilance Workshop: Conducted a campaign on “Probity for Prosperity” under CVC guidelines to strengthen governance. Strategic Approval: MIDHANI secured S‑400 component certification from GE Aerospace, expanding its aerospace materials footprint.