MIDHANI shares plunge to 52-week low despite dividend announcement
Mishra Dhatu Nigam (MIDHANI) saw its share price drop sharply on Friday, hitting a new 52-week low. The decline came as the company announced an interim dividend for the 2025-26 fiscal year. The broader market sell-off in metal stocks and public sector undertakings also weighed on its performance.
MIDHANI's shares fell by around 6% on Friday, closing at ₹313.15—the lowest point in the past year. This drop aligned with a wider downturn in Indian equities, particularly impacting metal companies and government-owned firms.
Despite the stock decline, the company reported a net profit of ₹27 crore for the third quarter, with revenue reaching ₹276 crore. Its payout ratio stood at approximately 31.6%. The board approved an interim dividend of ₹0.85 per share, representing 8.5% of the face value. Investors will note two key dates: the ex-dividend date is set for March 18, 2026, while the record date for eligibility falls on March 19, 2026. The Indian government maintains a controlling 74% stake in MIDHANI, shaping its long-term strategy.
The interim dividend announcement coincides with a challenging period for MIDHANI's stock. Shareholders will receive ₹0.85 per share, but the company's recent performance reflects broader market pressures. The government's majority ownership continues to play a significant role in its operations.
