MMTC spurts after declaring turnaround Q2 outcome

MMTC jumped 7.46% to Rs 45.35 at 10:41 IST on BSE after the company reported net profit of Rs 43.84 crore in Q2 September 2015 as compared with net loss of Rs 10.08 crore in Q2 September 2014.

The result was announced after market hours on Friday, 13 November 2015.

Meanwhile, the S&P BSE Sensex was down 75.62 points or 0.3% at 25,534.91

On BSE, so far 3.35 lakh shares were traded in the counter as against average daily volume of 1.51 lakh shares in the past one quarter.

The stock hit a high of Rs 46.20 and a low of Rs 44.50 so far during the day. The stock had hit a 52-week high of Rs 68.50 on 13 November 2014. The stock had hit a 52-week low of Rs 38 on 25 August 2015.

The stock had underperformed the market over the past one month till 13 September 2015, falling 9.83% compared with 4.6% fall in the Sensex. The scrip had also underperformed the market in past one quarter, sliding 8.46% as against Sensex's 7.04% decline.

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

MMTC's total income jumped 95.5% to Rs 4981.31 crore in Q2 September 2015 over Q2 September 2014.

MMTC is a leading international trading company. Government of India (GoI) holds 89.93% stake in MMTC (as per the shareholding pattern as on 30 September 2015).

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