MMTC is currently trading at Rs. 55.90, up by 0.25 points or 0.45% from its previous closing of Rs. 55.65 on the BSE.
The scrip opened at Rs. 55.70 and has touched a high and low of Rs. 56.60 and Rs. 55.30 respectively. So far 71,000 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 106.80 on 11-Jun-2014 and a 52 week low of Rs. 45.50 on 28-Feb-2014.
Last one week high and low of the scrip stood at Rs. 58.30 and Rs. 55.30 respectively. The current market cap of the company is Rs. 5,590.00 crore.
The promoters holding in the company stood at 89.93% while Institutions and Non-Institutions held 6.30% and 3.78% respectively.
Neelachal Ispat Nigam (NINL), a joint venture between MMTC, state controlled PSUs- Industrial Promotion & Investment Corporation of Odisha (Ipicol) and Odisha Mining Corporation (OMC), is reportedly targeting to expand its steel output to six million tonnes a year from the existing level of 1.1 million tonnes. The capacity expansion is expected to happen in five years. The cost of expansion is likely to be around Rs 30,000 crore out of which Rs 4,000 crore has already been invested.
At present, NINL’s product portfolio includes pig iron and LAM (low ash mettalurgical) coke along with nut coke, coke breeze, crude tar, ammonium sulphate and granulated slag. The envisaged products in the future in Phase-II are billets, bars and wire rods of different grades and sizes. NINL has its own captive power plant to meet the internal power requirement.
MMTC is major global player in the minerals trade and is the single largest exporter of minerals from India. With its comprehensive infrastructural expertise to handle minerals, the company provides full logistic support from procurement, quality control to guaranteed timely deliveries of minerals from different ports, through a wide network of regional and port offices in India, as well as international subsidiary.
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