MMTC gains on placing order of 11,000 tonnes of edible bulb from Turkey

MMTC is currently trading at Rs. 18.05, up by 0.05 points or 0.28% from its previous closing of Rs. 18.00 on the BSE.

The scrip opened at Rs. 18.20 and has touched a high and low of Rs. 18.20 and Rs. 18.00 respectively. So far 7695 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 31.45 on 31-Dec-2018 and a 52 week low of Rs. 14.00 on 16-Oct-2019.

Last one week high and low of the scrip stood at Rs. 19.10 and Rs. 17.85 respectively. The current market cap of the company is Rs. 2715.00 crore.

The promoters holding in the company stood at 89.93%, while Institutions and Non-Institutions held 4.13% and 5.94% respectively.

MMTC has placed an order of 11,000 tonnes of edible bulb from Turkey as part of its efforts to boost domestic supply and ease soaring prices. This is the second import order placed by the company. The company is already importing 6,090 tonnes from Egypt. 

Last month, the Union Cabinet approved importing 1.2 lakh tonnes of onion to improve the domestic supply and control prices that have skyrocketed to Rs 75-120 per kg across major cities now. The Centre has already banned exports and imposed stockholding limit on wholesalers and retailers for indefinite period. MMTC has contracted 11,000 tonnes of onion imports from Turkey and the consignments are expected in January next year.

MMTC is engaged in the business of metals, fertilizers, agro products, precious metal, mineral & ores, hydro - carbon. It’s the largest non-oil importer in India.

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