MSTC jumps after pact with Kerala State Electricity Board

MSTC was up 2.94% to Rs 87.50 at 10:09 IST on the BSE after the company said it signed an agreement with Kerala State Electricity Board for providing e-procurement services for solar project across the state.

The announcement was made after market hours yesterday, 26 June 2019.

Meanwhile, the S&P BSE Sensex was up by 128.80 points, or 0.33% to 39,720.88.

On the BSE, 963 shares were traded in the counter so far compared with average daily volumes of 1875 shares in the past two weeks. The stock had hit a high of Rs 87.90 and a low of Rs 86.35 so far during the day. It hit a 52-week high of Rs 120 on 12 April 2019 and a 52-week low of Rs 84 on 25 June 2019.

As a part of agreement, MSTC will develop online portal for Kerala State Electricity Board.

MSTC reported net profit of Rs 23.61 crore in Q4 March 2019 as against net loss of Rs 14.74 crore in Q4 March 2018. Net sales declined 13.86% to Rs 734.44 crore in Q4 March 2019 over Q4 March 2018.

State-run MSTC is engaged in domestic and international trading activity.

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