MMTC gains 1%; to invest Rs. 6,000 crore

The company reportedly said that it will invest about Rs. 6,000 crore to double the capacity of Neelachal Ispat Nigam in the next four years

MMTC has gained 1% and is at Rs. 45.75 on BSE. The company reportedly said that it will invest about Rs. 6,000 crore to double the capacity of Neelachal Ispat Nigam (NINL) in the next four years.

The scrip opened at Rs. 45.45 and has touched a high and low of Rs. 45.95 and Rs. 45.4 respectively. So far 46,261 (NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 4540 crore.

The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 63.25 on 01-Dec-2014 and a 52 week low of Rs. 38 on 25-Aug-2015. Last one week high and low of the scrip stood at Rs. 46.7 and Rs. 44.2 respectively.

The promoters holding in the company stood at 89.93 % while Institutions and Non-Institutions held 6.06 % and 4.01 % respectively.

The stock is currently trading below its 200 DMA.