MMTC spurts over 31% in two sessions

MMTC rose 9.18% to Rs 67.80 at 9:32 IST on BSE, extending previous session's gains triggered by the company's plan to issue bonus shares.

Meanwhile, the S&P BSE Sensex was down 145.71 points, or 0.43% to 33,539.83.

On the BSE, 10.02 lakh shares were traded in the counter so far compared with average daily volumes of 4.93 lakh shares in the past two weeks. The stock had hit a high of Rs 69 and a low of Rs 65.55 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.

MMTC announced after market hours on Wednesday, 14 March 2018, that its board will meet on 19 March 2018 to consider bonus issue.

Shares of MMTC surged 20% to settle at Rs 62.10 yesterday, 15 March 2018. The stock has risen 31.01% in two trading sessions to its current market price of Rs 67.80, from a close of Rs 51.75 on 14 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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