Mishra Dhatu Nigam Limited (MIDHANI), a Government of India enterprise under the Ministry of Defence, was established in 1973 in Hyderabad with the objective of promoting self-reliance in the production of critical metals for defence and strategic sectors. The company is engaged in the manufacturing of superalloys, titanium, special purpose steels, and other advanced metallurgical products. Notably, MIDHANI is the sole producer of titanium alloys in India, which are essential for applications in defence, aerospace, energy, and space technologies. In 2018, the company went public, following which the Government of India retained a majority stake of approximately 74%. Its diverse product portfolio includes ultra-high strength steels, armour-grade plates, martensitic and austenitic steels, precipitation hardening steels, and a variety of superalloys based on nickel, iron, and cobalt.

From a financial standpoint, MIDHANI has demonstrated a steady recovery and growth trend, with a current market capitalization of approximately ₹6,004 crore. The company’s quarter-on-quarter (QoQ) net profits increased significantly from ₹23 crore to ₹52 crore between June and December 2024. Furthermore, the trailing twelve-month (TTM) performance reflects a recovery in operating profit, which rose to ₹205 crore following a dip in March 2024. The FIIs and DIIs, too, have increased their stake since the last quarter. Technical analysis of MIDHANI’s stock indicates a favourable outlook, as evidenced by the formation of a bullish double bottom pattern at the ₹231 level on the weekly chart. The stock has shown support at both the 10-day Exponential Moving Average (EMA10) and the 50-day Moving Average (50 DMA), suggesting strength in the medium term. The Relative Strength Index (RSI) has also crossed above the neutral 50 mark, indicating upward momentum. Given these technical and fundamental indicators, the stock presents a potential long-term investment opportunity, with possible upside targets of ₹350 and thereafter, ₹400 and higher, provided investors apply prudent risk management through appropriate stop-loss strategies. As on 29th April, 2025, the stock is trading at the price of ₹320.50. 

The other stock which should be on the investor’s radar is Apollo Micro Systems Ltd which is a frontrunner in the design, development, assembly, and testing of advanced electronic and electro-mechanical solutions. As a key player in India’s electronics manufacturing sector, the company specializes in end-to-end engineering services, including Electronic Manufacturing Services (EMS), PCB fabrication, embedded software development, circuit board assembly, hardware design, and custom-built electronic systems.

With a portfolio of over 700 onboard technologies, Apollo is actively engaged in 150+ indigenous programs and serves as a sub-system partner in 60 Defence-cum-Public-Private Partnership (DcPP) initiatives. Its solutions cater to critical sectors such as Aerospace, Ground Defence, Space, Avionics, Homeland Security, and Transportation, with a clientele comprising DRDO, Indian Army, Indian Navy, DPSUs, Adani, L&T, and other major industry players.

Apollo Micro Systems Ltd has demonstrated consistent financial and technical strength, reflected in its market capitalization of ₹3,700 crore. The company has shown steady quarterly growth, with operating profit rising from ₹22 crore in June 2024 to ₹38 crore by December 2024. On an annual basis, operating profit has exhibited robust expansion, climbing from ₹39 crore in March 2021 to ₹82 crore in March 2024, with Trailing Twelve Months (TTM) metrics suggesting continued profitability. From a technical perspective, the stock’s recent movement above the 10-day Exponential Moving Average (EMA) indicates strengthening short-term momentum, while its firm support at both the 50-day and 200-day Moving Averages (DMA) underscores long-term stability. The emergence of a golden crossover in neutral territory, combined with increasing trading volumes, points to the potential for an imminent upward rally. Supported by its strong technological capabilities, strategic market positioning, and improving financial performance, Apollo Micro Systems Ltd emerges as an attractive proposition for growth-focused investors. The stock is currently trading at ₹120.71.