Mishra Dhatu Nigam rose 1.47% to Rs 155.05 after the company said it delivered ultra high strength steel & cobalt alloys for "Gaganyaan" of ISRO.
Mishra Dhatu Nigam (MIDHANI) on Monday announced that it dispatched its first consignment of ultra high strength steel for ignitor box and cobalt alloy for throat sitting rings for indigenous manned mission of Indian Space Research Organisation (ISRO) 'Gaganyaan' which will carry MIDHANI's "Vyomanauts" to space.MIDHANI will also supply titanium alloy materials for Gaganyaan's GSLV-Mark-III rocket liquid engine thrusters, nozzle, gas bottles, cryogenic upper stage components.
MIDHANI, the only manufacturer of titanium alloys and major supplier of super alloys in India, has indigenously developed and supplied various special metals and alloys required for ISRO space programmes from its first mission and continue to support all the missions. MIDHANI and ISRO have been working together over four decades and have developed critical input materials used in cryogenic engine, rocket motor casing, propellant tanks, etc.
Investment castings of vacuum melted quality of nickel alloys, stainless steel for exhaust unit and Hafnium-Niobium metal were also developed by MIDHANI, these materials will also be used in ISRO's ambitious Gaganyaan mission.
MIDHANI is in the process of establishing manufacturing facilities for carbon-fibre & 3D metal powder. An aluminium alloy plant in joint venture with NALCO at Nellore being setup under 'Make in India' initiative as a joint venture company 'Utkarsha Aluminium Dhatu Nigam' would manufacture high end aluminium alloy product such as sheets, plates, extrusions and forgings for strategic & commercial sectors.
Gaganyaan is an Indian crewed orbital spacecraft that is intended to send 3 astronauts to space for a minimum of seven days by 2022, as part of the Indian Human Spaceflight Programme. The spacecraft, which is being developed by ISRO, consists of a service module and a crew module, collectively known as the Orbital Module.
MIDHANI's net profit rose 74.5% to Rs 35.85 crore on a 48.6% rise in net sales to Rs 169.21 crore in Q2 September 2019 over Q2 September 2018.
MIDHANI has a specialized metals and metal alloys manufacturing facility in India, located in Hyderabad, Telangana. The Government of India held 74% stake in the company as on 30 September 2019.
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