MMTC jumps about 8% in three sessions

MMTC rose 1.31% to Rs 54.05 at 11:57 IST on BSE, extending recent gains triggered by the company receiving orders for import of steam coal from Coal India and Andhra Pradesh Power Development Company.

The announcement was made after market hours on Monday, 6 April 2015. The stock rose 6.19% to Rs 53.20 on 7 April 2015. The stock has risen 7.88% in three sessions from Rs 50.10 on 6 April 2015.

Meanwhile, the BSE Sensex was almost flat at 28,707.21.

On BSE, so far 2.37 lakh shares were traded in the counter, compared with an average volume of 2.95 lakh shares in the past one quarter.

The stock hit a high of Rs 55.30 and a low of Rs 52.60 so far during the day. The stock hit a 52-week high of Rs 106.80 on 11 June 2014. The stock hit a 52-week low of Rs 46.05 on 27 March 2015.

The stock had underperformed the market over the past one month till 8 April 2015, falling 6.81% compared with 2.52% decline in the Sensex. The scrip had also underperformed the market in past one quarter, falling 7.54% as against Sensex's 5.25% rise.

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

MMTC announced that it received orders for import of steam coal from Coal India and Andhra Pradesh Power Development Company for approximately 0.75 million metric tonnes (MMT) (out of 5 MMT that Coal India has initially tendered) and 1.6 MMT, respectively for supply during the fiscal year 2015-2016.

MMTC reported net loss of Rs 20.76 crore in Q3 December 2014 as against net loss of Rs 8.71 crore in Q3 December 2013. Net sales rose 16.03% to Rs 5541.75 crore in Q3 December 2014 over Q3 December 2013.

MMTC is a leading international trading company. MMTC is the largest non-oil importer in India. The Government of India holds 89.93% stake in the company as at 31 December 2014.

Powered by Capital Market - Live News