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<ul><li>As ISRO is busy making plans to explore the space, the stock of Telangana-based government company <keyword id="2044704" type="PERSON" weightage="20" keywordseo="Mishra-Dhatu-Nigam">Mishra Dhatu Nigam</keyword> has been skyrocketing. </li><li>It supplies ultra high strength steel for rockets and satellites. </li><li>In January, <keyword id="907560" type="ORGANIZATION" weightage="20" keywordseo="MIDHANI">Midhani</keyword> dispatched its first delivery of steel for Ignitor box and Cobalt alloy for Throat Sitting Ring for the mission ‘<keyword id="6797456" type="UNKNOWN" weightage="20" keywordseo="Gaganyaan">Gaganyaan</keyword>’ — which is expected to take off next year. </li><li>As India’s premier space agency preps for 15-16 launches per year it is expected to bring in orders worth ₹250-300 crore per annum.</li></ul>As the <keyword id="116095" type="ORGANIZATION" weightage="20" keywordseo="Indian-Space-Research-Organisation">Indian Space Research Organisation</keyword> (ISRO) is busy making plans to explore the space, the stock of a Telangana-based government company has been skyrocketing. Mishra Dhatu Nigam, also goes by its acronym MIDHANI, which has a monopoly in supplying ultra-high-strength steel for rockets and satellites has translated into a 35% growth in revenue for the third quarter. The stock has increased from ₹150 to nearly ₹217 in the last two weeks. But this may just be the beginning. ICICI Securities believes that returns from this stock is at 20% and it also raised its target price to ₹326 from ₹242, earlier. 
 
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 What's so special about MIDHANI? Half of the orders that the company receives are from ISRO, which is on a growth path. ISRO has several space missions lined up including Chandrayaan 3, Mangalyaan 2 and two unnamed missions as well. In order to pull off these projects, Finance Minister Nirmala Sitharaman, in her latest budget speech, allocated ₹13,479 crore for space exploration — increasing 8% from last year. As India’s premier space agency preps for 15-16 launches per year it is expected to bring in orders worth ₹250- ₹300 crore per annum. This will be a major part of the ₹800 crore orders they would add per year.The supply of material to ISRO typically starts nearly two years prior to the launch. “Increasing order inflow from ISRO over the years has led to a higher topline. Also, MIDHANI has managed to better its yield i.e. more output from lesser input,” said a report by ICICI Securities. Size does matter The company which operates under the Ministry of Defence now supplies 40% to the sector that it was originally intended for. In the last few years, increased space activity for large scale projects like Chandrayaan 2 has given it a spurt. Moreso, it added economies of scale to its business — bringing in unexpected levels of operational efficiency. Last year, its margin expanded to a massive 73-95%. “MIDHANI’s higher value of production leading to operating leverage benefits; lower rejections; lower power costs, and bulk buying of raw materials are some of the reasons,” the report said. The reduction in corporate tax rate also added to its coffers. On January 6, 2020, Midhani dispatched its first delivery of <a href="http://midhani-india.in/news_marquee/midhani-delivers-ultra-high-strength-steel-cobalt-alloys-for-gaganyaan-of-isro/">steel for Ignitor box and Cobalt alloy for Throat Sitting Ring for the mission ‘Gaganyaan’</a> — which is expected to take off next year. As it demonstrates its ability to efficiently supply large and mission critical orders, it will also pave the way for its ambitions of becoming a multinational company. Over 70% of the company’s production is supplied to Defence Research &amp; Development Organisation (DRDO), Indian Space Research Organisation (ISRO), Hindustan Aeronautics (HAL), and Department of Atomic Energy (DAE). While the rest goes to the commercial companies including Larsen &amp; Toubro and BHEL. See also: <a href="https://www.businessinsider.in/science/space/news/indias-new-rocket-will-let-isro-launch-satellites-month-on-month/articleshow/73892024.cms">India’s new rocket will let ISRO launch satellites month-on-month</a> <a href="https://www.businessinsider.in/budget/news/isro-space-budget-2020-allocation-and-updates/articleshow/73830948.cms">ISRO Budget 2020 allocated ₹13,479 crore for space exploration</a> <a href="https://www.businessinsider.in/careers/news/isro-is-hiring-scientific-and-technical-assistants-at-a-salary-of-44900-per-month-check-and-apply-isro-gov-in/articleshow/74172112.cms">ISRO is hiring scientific and technical assistants at a salary of ₹44,900 per month, check and apply @isro.gov.in</a>

The hottest Indian company that gives ISRO the metal for its rockets and satellites

New Delhi, Jul 2 () Vedanta Ltd will be dropped from NSE's benchmark index Nifty 50 and other indices from July 31 on account of the company's proposed voluntary delisting. In its place, HDFC Life Insurance Company will be included in the Nifty 50 index, NSE Indices, a subsidiary of the National Stock Exchange (NSE) said in a statement. Apart from that, Vedanta will be excluded from Nifty 500, Nifty 200, Nifty 100 and Nifty LargeMidcap 250 indices. SBI Cards and Payment Services would replace Vedanta in these indices. In addition, Mishra Dhatu Nigam would replace Vedanta in the metal index. "The Index Maintenance Sub-Committee has decided to replace Vedanta Ltd. (VEDL) from various indices on account of proposed voluntary delisting. The changes shall become effective from July 31, 2020," NSE Indices said. Further, SBI Cards and Payment Services would replace HDFC Life from Nifty Next 50 index. SP ANU ANU

Vedanta to be dropped from Nifty 50; HDFC Life to move in 

With a vision to make <keyword id="68884" type="PERSON" weightage="20" keywordseo="Telangana">Telangana</keyword> a commercial hub for all space-related products and services, the state government has decided to formulate a space-tech policy framework. The policy aims to push domestic production of launch vehicles, satellite systems and sub-systems and ground equipment manufacturing. State's Principal Secretary, Industry and Commerce, <keyword id="130896" type="PERSON" weightage="20" keywordseo="Jayesh-Ranjan">Jayesh Ranjan</keyword>, said on Sunday that Telangana is creating a holistic framework to develop end-to-end spacetech ecosystem in the state and attempt to capture the emerging global opportunities in space-related investments and innovations. This can potentially create a trickle-down impact on other areas of innovation such as universal connectivity and big data analytics for agriculture, remote education, disaster management, he said. Equal emphasis would be given to downstream applications of remote sensing that have the potential to solve real-life problems in agriculture, disaster management, insurance, urban flood modeling and forestry. The Centre's Department of Space recently released the draft Spacecom policy 2020 and draft SpaceRS policy 2020. Officials said states can significantly contribute to achieving the national objectives like "Atmanirbhar Bharat". Telangana is already home to several renowned start-ups such as Skyroot, Dhruva and other major companies in the spacetech sector. The city has collocated facilities of the <keyword id="152819" type="COMPANY" weightage="20" keywordseo="Defence-Research-and-Development-Organisation">Defence Research and Development Organisation</keyword>, the <keyword id="467450" type="COMPANY" weightage="20" keywordseo="National-Remote-Sensing-Centre">National Remote Sensing Centre</keyword>, the Advanced Data Processing Research Institute, the Defence Research &amp; Development Laboratory, the Research Centre Imarat, the Bharat Dynamics Ltd, the Mishra Dhatu Nigam Ltd, the Ordnance Factory Board, the Defence Metallurgical Research Laboratory, and the Advanced Research Centre for Powder Metallurgy and New Materials. To formulate Telangana's spacetech policy framework, the state government held a virtual consultation. It invited stakeholders like hardware start-ups, analytics start-ups and academia to share their insights during a virtual stakeholder consultation. Uma Maheshwaran, Scientific Secretary, ISRO HQs, and Dr Ravi Kumar, Director, NRSC) also attended the event. SEE ALSO: <a href="https://www.businessinsider.in/science/space/news/nasa-says-its-ingenuity-mars-helicopter-sent-a-positive-status-update-as-it-prepares-for-the-flight-the-agency-is-thinking-about-future-crewed-flights-to-the-red-planet-/articleshow/81140085.cms">NASA says its Ingenuity Mars helicopter sent a positive status update. As it prepares for the flight, the agency is thinking about future crewed flights to the Red Planet.</a> <a href="https://www.businessinsider.in/science/space/news/a-japanese-supercomputer-is-on-a-mission-to-find-out-how-our-universe-went-from-nothing-to-everything-in-less-than-a-microsecond/articleshow/81048254.cms">A Japanese supercomputer is on a mission to find out how our universe went from nothing to everything in less than a microsecond</a>

Telangana government to formulate a space-tech policy framework

Since the launch of ‘<keyword id="6354869" type="UNKNOWN" weightage="20" keywordseo="make-in-India">Make in India</keyword>’ program, considerable thrust has been given to <keyword id="2377476" type="UNKNOWN" weightage="20" keywordseo="defence-manufacturing">defence manufacturing</keyword>. Transformation from being one of the largest importers of arms into a credible defence equipment manufacturer takes a lot. 
 
Country’s defence spending is expected to go beyond USD 600 billion by 2022 and every private company indulged into defence manufacturing wants a pie of that, especially when USD 150 billion of contracts are there to be awarded within a few years. 
 
Current scenario of Imports: 
 
 
 
 
Some of the Indian Companies in Defence Sector: 
· Mazagon Dock Ltd 
· Mishra Dhatu Nigam Ltd 
· Mahindra Defence Systems with Bae Systems &amp; Seabird Aviation (Private Player) 
· Rolta ( A Private Player) 
· Tata Advanced Systems with Boeing,Sikorsky Aircraft Corporation &amp; Israeli Aerospace Industries 
· Ashok Leyland ( Private Player) 
· Bharat Dynamics Ltd 
· Bharat Earth Movers Ltd 
· Bharat Electronics Ltd ( BEL) 
· Bharat Forge 
· Electronics Corporation of India Ltd (ECIL) 
· Garden Reach Shipbuilders &amp; Engineers Ltd 
· Goa Shipyard Ltd 
· HCL with Boeing &amp; Circore Aerospace Inc (Private Player) 
· Hindustan Aeronautics Ltd ( HAL) 
· Reliance Defence 
 
Defence Manufacturing, Exports and its future: 
 
Indian exports are negligible when it comes to the total market share on a global level. India has exported defence equipment to 22 countries over last one year, including UK, US, Israel and Russia. India exported forging equipment, electronic assemblies, flight panel controls to the US. 
 
India exported transmitting tubes to UK and MIG &amp; Sukhoi 30 aircraft spares and services to Russia. India’s major exports included Cheetal helicopters to Afghanistan, Dhruv helicopters and bulletproof jackets to Nepal, Sukhoi avionics and MIG spares to Malaysia, offshore petrol vessels and ammunition to Mauritius and Jaguar aircrafts and spares to Oman. 
 
Indian private players are looking for foreign partners as the foreign direct investment in defence sector is pushed up to 49%. Reliance defence had signed a manufacturing and maintenance deal potentially worth $6 billion with Russia's Almaz-Antey, the maker of an air defence system. Apart from the Akash air defence system, the government had cleared the purchase of five S-400 air defence systems that are estimated to cost about $4.5 billion. 
 
Similarly kalyani group tied up with Rafael of Israel to make Spike Anti-tank missiles for the Indian military. 
 
Indian private players are still far away from accessing the key sensitive technologies related to fighter aircrafts and nuclear submarines however they are approaching fast by the virtue of transfer of technology and domestic manufacturing set-up under the make in India program. What must is to invest heavily in R&amp;D facilities along with the collaboration of key government institutions like DRDO with the private partners. Incoming demands for defence equipment is heavy and it should only be fulfilled by boosting the manufacturing process along with minimum government interference and a feasible policy framework. 
 
(Image: Indiatimes)

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The hottest Indian company that gives ISRO the metal for its rockets and satellites

Prerna Sindwani

Vedanta to be dropped from Nifty 50; HDFC Life to move in

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Telangana government to formulate a space-tech policy framework

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Defence Manufacturing: Is India Inc. ready?

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