MMTC stock up by 15 percent

By SiliconIndia   |   Thursday, December 30, 2010
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Bangalore: MMTC stock was among the top gainers after the price went up nearly by 15 percent. After opening the day at Rs. 1020.50, the stock touched its 52 week high of Rs. 1219.00, before closing the trade at Rs.1180.85 with a gain of 15.43 percent. The stock price yesterday had closed at Rs.1023 and thus the difference between yesterday's closing price and today's open price has gone in a negative figure. Through the day, 176984 shares of MMTC were traded in the market; left hand side has the 52 week chart. MMTC (MMTC) is an India-based international trading company. The Company had set up Neelachal Ispat Nigam, and iron and steel plant of 1.1 million tons per annum capacity, 0.8 million ton coke ovens and by-products with captive power plant, jointly with Government of Orissa. The project has firm Iron ore supply linkages and also captive Iron ore mining rights for reserves estimated about 150 million tons. MMTC's Precious Metals Division is in to a range of activities covering imports, exports and domestic retail trade. It helps in promoting exports from India by holding exclusive foreign exhibitions of gold and studded jewellery at chosen overseas locations. The Company operates an in-house assaying and hallmarking unit at New Delhi, Jaipur, Ahmedabad and Kolkatta for testing purity of gold and gold articles duly accredited with Bureau of Indian Standards. It imports finished fertilizers, fertilizer intermediaries and fertilizer raw materials. The government-run MMTC had entered into a contract for import of 60,000 tonnes of pulses during the current financial year to boost its domestic availability. The government sector company MMTC has contracted 60,000 tonnes of pulses during 2010-11 of various quantities from different countries, Minister of State for Commerce and Industry Jyotiraditya M Scindia said in a written reply to Lok Sabha. The imports were made from Canada, Myanmar, the US, Australia and Africa, he said.
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