MMTC reverses upmove on profit booking

MMTC lost 2.14% to Rs 61.70 at 14:02 IST on BSE on profit booking after gaining 14.22% in the preceding two trading sessions to settle at Rs 63.05 yesterday, 8 June 2017, from its close of Rs 55.20 on 6 June 2017.

Meanwhile, the S&P BSE Sensex was down 23.03 points, or 0.07%, to 31,150.72. The BSE Mid-Cap index was down 5.75 points or 0.04% at 14,828.67.

On the BSE, so far 4.02 lakh shares were traded in the counter, compared with average daily volumes of 3.15 lakh shares in the past one quarter. The stock had hit a high of Rs 63.20 and a low of Rs 61 so far during the day. The stock hit a 52-week high of Rs 73.85 on 12 January 2017. The stock hit a 52-week low of Rs 36.60 on 7 June 2016.

The stock had underperformed the market over the past one month till 8 June 2017, falling 4.76% compared with 3.19% rise in the Sensex. The scrip, however, outperformed the market in past one quarter, gaining 8.24% as against Sensex's 7.83% rise. The scrip, however, outperformed the market in past one year, surging 38.88% as against Sensex's 16.63% rise.

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

MMTC reported net loss of Rs 20.82 crore in Q4 March 2017 as compared with net profit of Rs 20.88 crore in Q4 March 2016. Total income rose 25.97% to Rs 2545.37 crore in Q4 March 2017 over Q4 March 2016.

MMTC is a leading international trading company. Government of India (GoI) held 89.927% stake in MMTC (as per the shareholding pattern as on 31 March 2017).

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