MSTC rises after bagging two-year work contract from Coal India

MSTC added 2.76% to Rs 473 after the company announced that it has received work order from Coal India (CIL) for engagement as 'e-auction service provider'.

Accordingly, the company would conduct e-auction of coal and coal products of CIL/coal companies for a period of two years.

MSTCs (formerly known as Metal and Scrap Trading Corporation) core activity of the company is diversified mainly into providing e-auction/e-procurement services and trading of bulk products like ferrous and non-ferrous scrap, coke, finished steel, coal and petroleum products.

The company's consolidated net profit surged to Rs 250.85 crore in the quarter ended December 2024 as against Rs 49.97 crore during the previous quarter ended December 2023. However, sales declined by 56.14% to Rs 81.14 crore in Q3 FY25 as compared with Q3 FY24.

Powered by Capital Market - Live News