MMTC gains after announcing good Q4 results

MMTC rose 1.05% to Rs 53.15 at 10:00 IST on BSE after net profit rose 16.04% to Rs 37.98 crore on 18.23% rise in total income to Rs 5070.48 crore in Q4 March 2015 over Q4 March 2014.

The Q4 result was announced after market hours yesterday, 21 May 2015.

Meanwhile, the S&P BSE Sensex was up 57.82 points or 0.21% at 27,867.17.

On BSE, so far 68,818 shares were traded in the counter as against average daily volume of 2.39 lakh shares in the past one quarter.

The stock hit a high of Rs 54 and a low of Rs 53 so far during the day. The stock had hit a 52-week high of Rs 106.80 on 11 June 2014. The stock had hit a 52-week low of Rs 46.05 on 27 March 2015.

The stock had outperformed the market over the past one month till 21 May 2015, gaining 4.57% compared with Sensex's 0.48% rise. The scrip had however underperformed the market in past one quarter, declining 11.37% as against Sensex's 4.86% fall.

The mid-cap firm has equity capital of Rs 100 crore. Face value per share is Re 1.

MMTC said that the board of directors of the company at its meeting held on yesterday, 21 May 2015, inter alia, have recommended final dividend of Rs 0.25 per share for the year ended 31 March 2015 (FY 2015).

Established in 1963, MMTC, one of the two highest foreign exchange earners for India, is a leading international trading company. It is the largest international trading company of India and the first Public Sector Enterprise to be accorded the status of "FIVE STAR EXPORT HOUSE" by Government of India for long standing contribution to exports. MMTC is the largest non-oil importer in India. MMTC's diverse trade activities encompass Third Country Trade, Joint Ventures, Link Deals - all modern day tools of international trading.

As at 31 March 2015, the government of India holds 89.93% stake in the firm.

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