MMTC has rallied over 9% to Rs 265 on the National Stock Exchange (NSE) on back of heavy volumes. The stock opened at Rs 247 and hit a high of Rs 268 so far.
A combined 1.15 million shares changed hands on the counter in first hour of trade compared to an average sub 3 million shares that were traded daily in past two weeks on NSE and BSE.
The state-run commodity trading and distribution company expects its gold jewellery and silver sales to double during a five-day exhibition organised to mark the Akshaya Tritiya festival.
"Due to significant fall in gold prices, MMTC expect total sales during Akshaya Tritiya festival to touch Rs 30 crore," the PTI report suggests quoting MMTC General Manager Precious Metal Division Ashwini Kapoor.
A combined 1.15 million shares changed hands on the counter in first hour of trade compared to an average sub 3 million shares that were traded daily in past two weeks on NSE and BSE.
The state-run commodity trading and distribution company expects its gold jewellery and silver sales to double during a five-day exhibition organised to mark the Akshaya Tritiya festival.
"Due to significant fall in gold prices, MMTC expect total sales during Akshaya Tritiya festival to touch Rs 30 crore," the PTI report suggests quoting MMTC General Manager Precious Metal Division Ashwini Kapoor.