MMTC locked in 20 per cent upper circuit on bonus issue plan

MMTC Limited on Wednesday intimated the exchanges that the company will consider and approve the proposal for issue of Bonus Shares in its meeting scheduled to be held on March 19, 2018.

Following the news, the shares of MMTC were locked in 20 per cent upper circuit on the bourses. In July 2010, the company had issued bonus shares in the ratio of 1:1, i.e. one bonus equity share for every one share held on the record date.

MMTC Limited is the largest international trading company in India and has been in existence for almost five decades. The company has a strong presence in metals, minerals and precious metals. The shares of the company have now been gaining for three consecutive sessions.

At 13:01 hours, MMTC was trading at Rs 62.10 per share, up Rs. 10.35 or 20 per cent on BSE. The scrip opened at Rs. 55.40 and was locked in 20 per share upper circuit on BSE. The stock has a 52-week high of Rs. 101.60 and 52-week low of Rs. 45.50 per share on BSE. The stock attracted a traded volume of 21,83,210 shares on BSE.