Mishra Dhatu Nigam (MIDHANI) on Friday announced that it has raised Rs 50 crore by allotting commercial papers to Union Bank on private placement basis.In an exchange filing, Mishra Dhatu Nigam said that it has issued 1000 commercial papers of face value of Rs 5 lakh each.
The tenure of papers is 90 days and the papers are rated A1+ by credit rating agency CRISIL.
MIDHANI is one of the leading manufacturers of super alloys, titanium & titanium alloys, special purpose steels and other special alloys. The Government of India held 74% stake in the company as of 31 March 2021.
On a consolidated basis, the company s net profit fell 1% to Rs 60.13 crore on a 9% decline in net sales to Rs 187.92 crore in Q3 FY21 over Q3 FY20.
Read more about Market trades with modest losses; metal stocks rise for third day on Business Standard. The key equity indices were trading with modest losses in mid-afternoon trade. Metal shares extended recent gains. The Nifty was trading tad above the 15,650 mark.
The key equity barometers reversed gains and slipped into the negative terrain in morning trade. The Nifty, however, managed to hold above the 15,550 mark. Metal shares corrected after a three-day wining streak.
At 10:22 IST, the barometer index, the S&P BSE Sensex, was down 93.56 points or 0.18% to 51,843.88. The Nifty 50 index lost 26.20 points or 0.17% to 15,556.60.
In broader market, the S&P BSE Mid-Cap index shed 0.33% while the S&P BSE Small-Cap index declined 0.35%.
The market breadth was negative. On the BSE, 1265 shares rose and 1484 shares fell. A total of 114 shares were unchanged.
COVID-19 Update:
Total COVID-19 confirmed cases worldwide stood at 170,593,575 with 3,547,205 global deaths.
Read more about Defence stocks rally as MoD puts 108 items on import ban list; BEL up 6 % on Business Standard. The MoD, on Monday, announced a list of 108 items of defence equipment that must be compulsorily procured from indigenous sources according to provisions in the Defence Acquisition Procedure 2020