MMTC spurts on the plans of investing Rs 1.84 crore in JV firm

MMTC Ltd. | Trading | Miscellaneous | BSE: 513377 | NSE: MMTC

19 Jul 2012 Evaluate

MMTC is currently trading at Rs 720.00, up by 9.10 points or 1.28% from its previous closing of Rs 710.90 on the BSE.

The scrip opened at Rs 713.00 and has touched a high and low of Rs 725.20 and Rs 712.00 respectively. So far 13,000 shares were traded on the counter.

The BSE group 'A' stock of face value Re 1 has touched a 52 week high of Rs 1009.00 on 10-Jan-2012 and a 52 week low of Rs 438.55 on 20-Dec-2011.

Last one week high and low of the scrip stood at Rs 752.50 and Rs 698.05 respectively. The current market cap of the company is Rs 72,000 crore.

The promoters holding in the company stood at 99.33% while Institutions and Non-Institutions held 0.52% and 0.15% respectively.

Minerals and Metals Trading Corporation (MMTC), a state-owned trading firm, would be investing Rs 1.84 crore in its joint venture (JV) firm ‘MMTC-PAMP India’ for setting up a plant for minting and refining of gold and silver. MMTC would increase its equity investment limit from Rs 15.60 crore to Rs 17.44 crore in the JV. The additional equity infusion would be funded by MMTC through internal accruals/reserves for subscribing/acquiring additional equity shares of MMTC-PAMP India.

In 2007, MMTC had joined hands with PAMP for manufacturing gold and silver medallions in India and setting up a precious metals refinery in Mewat district of Haryana. The project - MMTC-PAMP India has an investment of about Rs 200 crore and annual refining capacity of 100 tonnes of gold and 600 tonnes of silver.

MMTC holds 26% stake in JV while the rest is owned by PAMP. PAMP (Produits Artistiques de Metaux Precieux), based out of Switzerland, is mainly into refining of precious metals.

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.

MMTC Share Price

64.81 -0.31 (-0.48%)

13-Jul-2026 14:09 View Price Chart

Peers

Company Name	CMP
Redington	281.70
Amrapali Industries	37.08
Adani Enterprises	3180.30
Rashi Peripheral	780.40
PDS	360.80
View more..

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