President of India’s portfolio gains Rs 1578,21,66,774 from this multibagger penny stock in just 1 day; scrip hit upper circuit & 52-week high!
The stock gave multibagger returns of 137 per cent in just 6 months whereas BSE Sensex Index is up by 10 per cent.
Indian stock markets remained flat on Thursday, with the BSE Sensex Index down 0.10 per cent to close at 66,485 and the NSE Nifty-50 Index down 0.09 at 19,794. About 2,117 shares have advanced, 1,555 have declined and 120 were unchanged on BSE.
Although the market traded flat, this multibagger penny stock bucked the trend and traded in the green. Let us know about this stock:
The stock we will be discussing today is MMTC Ltd.
The President of India owns 1,36,89,03,143 shares of 89.93 per cent stake in the company. Today, shares of the company hit 20 per cent upper circuit to Rs 70.72 per share. The stock also made a new 52-week high of Rs 70.72 per share. At the closing bell, shares of the company were trading at Rs 70.64 per share, up 11.70 points or 19.85 per cent with a spurt in volume by more than 25.35 times on BSE.
Therefore, 1,36,89,03,143 shares x Rs 11.70 = Rs 1578,21,66,774 in just 1 day.
MMTC Ltd was incorporated in 1963, to facilitate foreign trade in India and canalize the export and import of essential minerals and metals. It is under the administrative control of the Ministry of Commerce & Industry, and the Government of India and is engaged in trading across minerals, metals, precious metals, agro products, fertilizers & chemicals and coal & hydrocarbons.
The company's market cap crossed Rs 10,000 crore and has delivered good profit growth of 47.9 per cent CAGR over the last 5 years. According to the Quarterly Results and annual results, the company reported positive numbers. The shares of the company have a PE of 7.34x and an ROCE of 95.24 per cent. The company has issued bonus shares twice in the past, once in 2010 in the ratio of 1:2 and again in 2018 in the ratio of 1:1.
The stock gave multibagger returns of 137 per cent in just 6 months whereas BSE Sensex Index is up by 10 per cent.
Do you own MMTC Ltd.’s shares in your portfolio?
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Disclaimer: The article is for informational purposes only and not investment advice.