MMTC spurts on bonus issue plan

MMTC rose 11.50% to Rs 57.70 at 9:20 IST on BSE after the company said its board will meet on 19 March 2018 to consider bonus issue.

The announcement was made after market hours yesterday, 14 March 2018.

Meanwhile, the S&P BSE Sensex was down 26.69 points, or 0.08% to 33,809.05.

On the BSE, 3.14 lakh shares were traded in the counter so far compared with average daily volumes of 2.63 lakh shares in the past two weeks. The stock had hit a high of Rs 58.50 and a low of Rs 55.40 so far during the day. The stock hit a 52-week high of Rs 101.60 on 7 November 2017. The stock hit a 52-week low of Rs 45.50 on 9 March 2018.

Net profit of MMTC declined 91.59% to Rs 6.26 crore on 31.47% decline in net sales to Rs 3387.11 crore in Q3 December 2017 over Q3 December 2016.

MMTC is the largest international trading company in India. Government of India (GoI) held 89.953% stake in MMTC (as per the shareholding pattern as on 31 December 2017).

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