Mid Cap PSU Under Rs 130 Jumps 249% In 1-Yr, Buy For TP Rs 135: PL Recommends

Mid cap public sector undertaking (PSU) MMTC shares gained 13.40% till 9:47 am on BSE and soared 35.78% in last 2-weeks only. Brokerage firm Prabhudas Lilladher has buy on MMTC shares with target price of Rs 135 per share. Current market price of MMTC Ltd share on is Rs 116.35 per share. As of June 2024, government stake in MMTC stood at 89.93%. Meanwhile, it is also backed by Life Insurance Corporation Of India (LIC) as the PSU insurer has 1.97% stake in MMTC with 29,568,307 shares. Check key details pertaining to MMTC below:

PL Recommends Buy Call: According to Shiju Koothupalakkal, Technical Research Analyst at Prabhudas Lilladher, "Next visible upside targets will be between Rs 115 and 135 levels. There could be some consolidation in between with near-term support lying at Rs 95. After that, one can expect for another upward move to register new highs."
MMTC Share Performance: The 52-week high price of MMTC Ltd shares on BSE is Rs 121.13 per share (as on 25/07/2024) and 52-week low price is Rs 33.30 per share (as on 26/07/2023), respectively. MMTC has a market capitalisation of Rs 17,070.00 crore. MMTC's PE stood at 225.63 and ROE at 5.04. Its EPS is 0.45. MMTC shares gained 41% in last 1-month only, soared 56% in last 3-months, and offered return of 94% return year-to-date. In last 2-years, MMTC shares surged 204% and rose 467% in last 5-years.

MMTC Dividend History: MMTC declared 26 dividends since June 18, 2002.

MMTC Bonus Share History: MMTC gave 2 bonuses since July 29, 2010. The PSU's last bonus was declared in the ratio of 1:2 with ex-bonus date set as May 3, 2018.

MMTC Stock Split History: MMTC split the face value once since July 29, 2010. MMTC last split the face value of its shares from Rs 10 to Re 1 in 2010. MMTC share traded ex-split from July 29, 2010.

About: MMTC Limited was incorporated in 1963 primarily to regulate the International trade of Minerals and Metals. Over the years, MMTC diversified its business portfolio keeping in view national requirements / new business opportunities, and new product lines like Agro Commodities, Fertilizers, Precious Metals, and Coal were added to the product profile of MMTC. A Corporate giant growing in leaps and bounds, MMTC Limited is the leading international trading company in India. The premier trading house has always striven to outperform its own past records, according to its official website.

Disclaimer:

The stock just highlights the dividend and is not a recommendation to buy, sell or hold. We have not done fundamental or technical analysis and have no opinion on the stock mentioned. Neither, the author nor Greynium Information Technologies should be held liable for any losses. Please consult a professional advisor.