Saturday , October 23 2021

MMTC spurts on placing another onion import order of 4,000 tonnes from Turkey

MMTC is currently trading at Rs. 17.90, up by 0.25 points or 1.42% from its previous closing of Rs. 17.65 on the BSE.

The scrip opened at Rs. 17.95 and has touched a high and low of Rs. 18.00 and Rs. 17.70 respectively. So far 13453 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. 18.40 and Rs. 17.40 respectively. The current market cap of the company is Rs. 2677.50 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 another onion import order of 4,000 tonnes from Turkey and the shipments are expected to reach by mid-January. This is in addition to 17,090 tonnes of onions already contracted, which includes 6,090 tonnes from Egypt and 11,000 tonnes from Turkey.

The company is importing onions on the behalf of the government, which is trying to check prices of the key bulb by improving domestic supplies through various modes, including imports. Onion prices remain high in the range of Rs 75-100/kg across major cities of the country.

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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