Mishra Dhatu Nigam shares: PSU multibagger in bear grip; Sell Midhani stock, says ICICI Securities

Mishra Dhatu Nigam (MDN) is a public sector undertaking (PSU) that operates in the steel industry. The company has recently announced that it is in bear grip, meaning that its stock price has been declining. This news was shared by ICICI Securities, a leading financial services company in India.

In addition to MDN's bear grip, ICICI Securities has also advised selling Midhani stock. Midhani is a private sector company that operates in the steel industry and produces high-performance alloys. The company's stock price has been on an upward trend over the past year, with a 102 per cent increase in value.

However, the December quarter results of Midhani were impacted by an increasing proportion of super alloys in its product mix. Super alloys are high-performance alloys that are used in a variety of applications, including aerospace and automotive industries. While super alloys have higher profit margins than traditional alloys, they also require more expensive raw materials and production processes.

As a result, Midhani's December quarter results showed a decline in profitability due to the increasing proportion of super alloys in its product mix. This has put pressure on the company's stock price, as investors may be concerned about its ability to maintain profitability in the future.

In summary, MDN is in bear grip and ICICI Securities has advised selling Midhani stock due to concerns about the company's profitability following an increase in the proportion of super alloys in its product mix.