MMTC

Precious metals refiner MMTC-PAMP plans to start silver recycling at its existing stores on a pilot basis within three months as rising demand threatens to create serious supply-side constraints, the company's top executive said. Managing Director and CEO Samit Guha said the company is entering silver recycling because the economics are now more favourable, while global mine production capacity shows no signs of significant expansion despite growing demand. "If silver demand keeps going the way it is, we could have serious supply-side constraints. Eventually, recycled silver will have to play a bigger role to fill this gap," Guha told PTI in an interview. He called on the government to encourage silver recycling, noting that Indian households hold an estimated 25,000 tonnes of gold and ten times that amount in silver. MMTC-PAMP operates 20 stores for gold recycling that can be adapted to handle silver. The company plans to double its store count over the next five years. "We need

The rally was led by MMTC, which jumped 14.58 per cent to ₹79.52 amid heavy volumes, followed by IFCI climbing 6.15 per cent to ₹74.50 and Sigachi Industries gaining 5.63 per cent to ₹53.21.

MMTC, MSTC share price: Around 42.94 million shares have changed hands on the MMTC counter, combined, on the BSE and NSE, while 0.96 million shares have changed hands on the MSTC counter

IFCI (Rs 84), MMTC (Rs 102.60) and STC India (Rs 203.40) were frozen at the 20 per cent upper limit on the BSE.

As many as 1,010 stocks were locked at their respective lower circuit on the BSE in late noon deals on Wednesday amid the broader market sell-off.

From its 52-week low of Rs 26.4 touched on April 28 this year, the stock had leaped 237 per cent to a new 52-week high of Rs 89 on October 17, Tuesday

Shares of Indian Railway Finance Corporation (IRFC) and MMTC surged by up to 20 per cent on the BSE in Tuesday's intra-day trade on the back of heavy volumes

Stocks to Watch today, August 3, 2023: Titan Co reported a lower-than-expected quarterly profit at Rs 770 crore

Capital markets regulator Sebi has cancelled the registration of MMTC Ltd as a stock broker for its involvement in illegal "paired contracts" in a case pertaining to now defunct National Spot Exchange Ltd (NSEL). While cancelling the licence, Sebi directed MMTC to allow its existing clients to withdraw or transfer their securities or funds held by it within 15 days. In case a client fails to do so, the broker will transfer the funds and securities of such clients to another registered broker in the next 15 days under advice to the said clients, Sebi said in its order on Wednesday. Going by the order, MMTC is a commodity derivatives broker registered with Sebi, from December 2015 and is currently a member of the Multi Commodity Exchange of India Ltd (MCX). The broker made an application in September 2019 for surrendering its membership of MCX. However, the surrender application of MMTC is still pending with MCX. In its order, Sebi said MMTC traded in "paired contracts", which did n

The plant will produce more than 100 million pieces of contacts this financial year, with plans to double output by the end of March 2024, he said

Lupin may be in focus as it has launched its first Reference Laboratory in East India in Kolkata.

MMTC-PAMP, a JV between state-owned MMTC Ltd and Switzerland-based bullion brand PAMP SA, on Thursday said it is aiming at a revenue of Rs 1,000 crore from the eastern region in the next five years. It forayed into the eastern market, launching the first store in Kolkata. Over the next five years, the company aims at earning a revenue of Rs 1,000 crore in the eastern region, and expand into key regional markets by targeting Jharkhand, Bihar and the northeast, MMTC-PAMP said in a release. With the launch of the Kolkata unit, the company now has 14 stores across the country. We plan to build a strong presence in the eastern market and with this store, we will not only cater to the huge demand of gold recycling in the region, but will also offer our flagship 999.9 purest gold, silver coins and ingots to consumers and trade channels, MMTC- PAMP MD & CEO Vikas Singh said.

The Enforcement Directorate (ED) said it has attached assets worth over Rs 363 crore of a jewellery firm in a money laundering case linked to an alleged fraud against public sector enterprise MMTC.

MMTC said it has requested stock exchanges to extend time limit up to Aug 31 for holding meeting of audit committee and Board of Directors for consideration and approval of audited financial results

The board of MMTC has approved the debt restructuring scheme of the state-owned company which envisages settlement of dues out of the disinvestment proceeds of the Neelachal Ispat Nigam Limited (NINL)

The Commerce Ministry has sought financial support from its finance counterpart to pay compensation to the employees of public sector trading firm MMTC (Metals & Minerals Trading Corporation of India) under its VRS scheme, sources said. According to sources in the Commerce Ministry, which is the nodal ministry of MMTC, the ministry has sent a proposal regarding this to the Finance Ministry. The company needs money to pay its employees who are opting for VRS (voluntary retirement scheme), and due to its weak financial conditions, MMTC is unable to pay the due amount, one of the sources said. The ministry is hopeful that the Finance Ministry would consider the proposal positively, the sources said. In July last year, MMTC's board had approved the VRS proposal for its employees.

For a nominal transaction fee, sellers can receive the maximum value of gold as a direct bank transfer or in the form of a gold bar with 9999, 999 and 995 purity, the bullion refiner said

Pandey led many high-level government and trade delegations to various countries

It is learnt that this strategic sale could be completed only after March 31, and hence, will be part of the 2020-21 divestment pipeline

The six PSUs are MMTC, National Mineral Development Corporation, Bharat Heavy Electrical Ltd, Odisha Mining Corporation, Odisha Investment Corporation and MECON