MSTC jumps on bargain hunting

MSTC rose 5.46% to Rs 364.30 on bargain hunting after a recent steep loss.

Shares of MSTC tumbled 7.51% in the past four sessions.

The stock hit a record high of Rs 542 on 19 October 2021. It hit a 52-week low of Rs 143.15 on 22 December 2020.

In the past one month, the stock has declined 19.89% as against 3.37% fall in the Sensex. It has jumped 143.10% in the past one year compared with 32% surge in the Sensex.

On a consolidated basis, net profit of MSTC declined 1.60% to Rs 28.30 crore on 8.72% rise in net sales to Rs 227.71 crore in Q2 September 2021 over Q2 September 2020.

MSTC is a Mini Ratna Category-I PSU under the administrative control of the Ministry of Steel, Government of India. It is one of the leading PSU entity engaged in providing e-commerce related services across diversified industry segment offering e-auction/e-sale, e-procurement services and development of customized software/solutions.

The Government of India has 64.75% share holding in MSTC.

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