Mishra Dhatu Nigam Limited (MIDHANI) rose 1.47 percent to Rs 155.05 after the company said it delivered ultra-high-strength steel & cobalt alloys for "Gaganyaan" of ISRO.
Mishra Dhatu Nigam Limited (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 the 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, and cryogenic upper stage components.
MIDHANI, the only manufacturer of titanium alloys and a major supplier of superalloys in India, has indigenously developed and supplied various special metals and alloys required for ISRO space programs 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 the cryogenic engines, 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 aluminum alloy plant in a joint venture with NALCO at Nellore being set up under 'Make in India' initiative as a joint venture company 'Utkarsha Aluminium Dhatu Nigam' would manufacture high-end aluminum 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 percent to Rs 35.85 crore on a 48.6 percent rise in net sales to Rs 169.21 crore in Q2 September 2019 over Q2 September 2018.
Mishra Dhatu Nigam Limited (MIDHANI) has specialized metals and metal alloys manufacturing facility in India, located in Hyderabad, Telangana. The Government of India held a 74 percent stake in the company as of 30 September 2019.