MMTC jumped 10% to Rs 22,731 at 13:25 IST on BSE on reports the company has lined up an investment of Rs 147 crore for setting up a gold refinery in Sohna, Haryana in collaboration with Swiss firm PAMP.
The stock hit a high of Rs 22,731 and a low of Rs 20,800 so far during the day. The stock had a 52-week high of Rs 56,931.50 on
The company’s current equity is Rs 50 crore. Face value per share is Rs 10.
The current price of Rs 22,731 discounts its Q3 December 2007 EPS of Rs 31.34 by a PE multiple of 725.30.
MMTC’s net profit rose 36.5% to Rs 39.17 crore on 31% fall in net sales to Rs 4884.86 crore in Q3 December 2007 over Q3 December 2006.
As per recent reports, the manufacturing unit will be set up on 22 acres land in Mewat district in the state of Haryana and would have an annual capacity of 80 tonnes for both gold and silver bars. MMTC also signed an agreement with jewellery manufacturer Geetanjali Gems for opening retail outlets across the country, reports added.
Produits Artistiques Métaux Précieux better known as PAMP is an independent refiner of precious metals. It specializes in precious metal products for artistic use.
The state-owned MMTC (formerly Minerals and Metals Trading Corporation of India), is a leading international trading company of India, trades in diverse fields like minerals, engineering, agro, marine, textiles, leather and gem & jewellery.
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