India's Mishra Dhatu hits record high on providing materials for Aditya-L1 launcher

Mishra Dhatu Nigam

04/09/2023 05:51

** Shares of metallurgy firm Mishra Dhatu Nigam  MISR.NS 
rise as much as 6% to 435.85 rupees, their all-time high
    ** Company says its critical materials have been used in the
Aditya-L1 launcher vehicle PSLV-C57, which was launched to study
the sun on Saturday
    ** Launcher was built with company's materials such as
titanium alloy, niobium alloy, cobalt alloy and ultra high
strength steel - MISR
    ** Stock on track to rise for third straight session, if
trends hold
    ** Over 1 mln shares change hands as of 9:58 a.m. IST, 0.5X
the 30-day moving avg.
    ** MISR shares have risen 6.8% since India's Chandrayaan-3
spacecraft landed on the moon on Aug. 23; company had supplied
cobalt and nickel base alloys for the launch vehicle
    ** Including day's move, stock up 95.6% YTD

 (Reporting by Varun Vyas in Bengaluru)
 ((varunvyas.hebbalalu@thomsonreuters.com))