MMTC shares rose beyond 21 percent

By SiliconIndia   |   Thursday, July 29, 2010
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Bangalore: MMTC was among the top gainers after its price went up beyond 21 percent. After opening the day at Rs. 1586.70, the stock touched its 52 week high of Rs. 2000, before closing trade at Rs. 1513.07, with a gain of 21.56 percent. Through the day, 534854 MMTC were traded in the market. The 52 week stock price chart is on the left. MMTC is an India-based international trading company. MMTC's trade activities encompass third country trade, joint ventures, link deals, all tools of international trading. It exports minerals from India. The company provides logistic support from procurement, control to deliveries of minerals from different ports, through a network of regional and port offices in India, as well as international subsidiary. MMTC supplies gold and studded jewelry, and supplies gold on loan basis to the bullion traders and jewelers in India. It also sells imported minor metals like magnesium, antimony, silicon and mercury, as also industrial raw materials like asbestos, and steel. MMTC exports and imports agro products, such as rice, wheat, sugar, processed foods, and plantation products like tea, coffee and jute. Currently only one analyst is following the stock, recommending to hold the stock. Consensus recommendation is to hold the stock.
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