Latest news with #MMTC
Mint
3 days ago
- Business
- Mint
MMTC share price surges over 50% in May; is it still a stock to buy?
MMTC share price continued witnessing strong buying interest for the third consecutive session on Friday, May 30, rising over 8 per cent in morning trade on the BSE. MMTC share price opened at ₹ 84.21 against its previous close of ₹ 81.36 and surged 8.4 per cent to an intraday high of ₹ 88.20. At this price, the stock has jumped 38 per cent in three sessions and 57 per cent in May after an 8 per cent gain in April and a 6 per cent gain in March. MMTC share price hit a 52-week low of ₹ 42.55 on April 7 this year and a 52-week high of ₹ 131.88 on July 26 last year. MMTC on May 29 reported a 96.8 per cent year-on-year plunge in its consolidated net profit for Q4FY25 to ₹ 2.23 crore, compared to ₹ 69.78 crore in the same quarter last year. Total income dropped 32 per cent YoY to ₹ 44.14 crore in Q4FY25 from ₹ 64.98 crore in Q4FY24. The stock's sharp gains since March have stretched its valuations. Its current trailing twelve-month price-to-earnings (PE) ratio, near 150, is high in the industry. The stock looks overbought, and technical charts indicate the possibility of a profit booking. Anshul Jain, the head of research at Lakshmishree Investments, highlighted that MMTC stock broke out of a cup and handle pattern at ₹ 63 and rallied sharply, testing the 50 per cent retracement level of its 66.25 per cent fall over 37 weeks, placed at ₹ 86. "The rally has been steep and vertical, indicating that profit booking at current levels is highly likely. Traders are advised to book profits and wait for a fresh accumulation or consolidation pattern to develop before considering new long positions for the next leg," said Jain. Read all market-related news here Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions, as market conditions can change rapidly, and circumstances may vary.
Mint
3 days ago
- Business
- Mint
Sensex, Nifty 50 snap 2-day losing run; investors earn nearly ₹2 lakh crore— 10 key highlights from Indian stock market
Indian stock market benchmarks—the Sensex and the Nifty 50—closed in positive territory on Thursday, May 29, snapping their two-day losing run on fag-end buying in select blue-chip stocks. The Sensex closed 321 points, or 0.39 per cent, higher at 81,633.02, with Infosys, Reliance Industries and HDFC Bank as top contributors. The Nifty 50 settled at 24,833.60, up 81 points, or 0.33 per cent. The BSE Midcap and Smallcap indices also ended with gains of 0.48 per cent and 0.39 per cent, respectively. Volatility index India VIX plunged 9 per cent to 16.42. The overall market capitalisation of BSE-listed firms rose to nearly ₹ 445.5 lakh crore from nearly ₹ 444 lakh crore in the previous session, making investors richer by about ₹ 1.5 lakh crore in a day. The Indian stock market ended higher amid positive global cues after a US federal court blocked President Donald Trump's reciprocal tariffs announced on April 2. The market witnessed some volatility due to the expiry of May futures and options (F&O) contracts. However, investors bought shares on dips, as the medium- to long-term outlook remains positive, supported by a healthy macroeconomic environment. "Global sentiment improved after a US court struck down Trump's reciprocal tax policy. However, the domestic market remained mostly rangebound during the day due to rising oil prices and higher US 10-year bond yields," said Vinod Nair, Head of Research, Geojit Investments Limited. "Some recovery was seen toward the end of the session, driven by F&O expiry-led covering. Export-focused sectors like IT and pharma performed well, supported by hopes of easing trade tensions. Lack of positive domestic triggers and a drop in industrial output to an eight-month low could lead to short-term market consolidation," Nair said. As many as 37 stocks closed higher in the Nifty 50 index. Shares of IndusInd Bank (up 2.47 per cent), Sun Pharmaceutical Industries (2 per cent), and Eternal (up 1.8 per cent) ended as the top gainers. HDFC Life Insurance Company (down 1.07 per cent), BEL (down 0.81 per cent) and Tata Consumer Products (down 0.68 per cent) closed as the top loser stocks in the index. Only Nifty PSU Bank (down 0.24 per cent) and FMCG (down 0.13 per cent) ended with losses among major sectoral indices. Nifty Metal (up 1.21 per cent), Realty (up 1.14 per cent), Pharma (up 0.92 per cent) and IT (up 0.77 per cent) closed with healthy gains. Nifty Bank and Financial Services indices rose 0.23 per cent and 0.10 per cent, respectively. Vodafone Idea (34.32 crore shares), MMTC (20.17 crore shares) and IFCI (15.06 crore shares) were the most active stocks in terms of volume on the NSE. MMTC, Hindustan Motors, Veto Switchgears and Cables, STL Global and Godavari Biorefineries were among the 17 stocks that jumped over 10 per cent on the NSE. Denta Water and Infra Solutions (down 10.48 per cent) and Sandur Manganese & Iron Ores (down 10.41 per cent) were the two stocks that crashed more than 10 per cent on the NSE. As many as 106 stocks, including MMTC, Zen Technologies, Hindustan Motors and KPI Green Energy, hit their upper circuits in intraday trade on the NSE. On the other hand, 81 stocks, including Orchid Pharma, V2 Retail, Indo Tech Transformers, and Borana Weaves, hit lower circuits during the session. As many as 1,510 stocks advanced, while 1,373 declined and 64 remained unchanged on the NSE. Some 92 stocks, including Mazagon Dock Shipbuilders, Deepak Fertilisers & Petrochemicals Corporation, Welspun Corp, Solar Industries India and Apollo Micro Systems, hit their 52-week highs in intraday trade on the BSE. On the other hand, Orchid Pharma, National Standard (India), Lasa Supergenerics, Bharat Rasayan and CP Capital were among the 29 stocks that hit their 52-week lows. Read all market-related news here Read more stories by Nishant Kumar
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Business Standard
3 days ago
- Business
- Business Standard
MMTC, IFCI, Sigachi Ind: Penny stocks under ₹100 surge up to 15% today
Stocks under ₹100 rise in trade: Shares of several penny stocks priced under ₹100 saw sharp gains in Thursday's trading session, with select counters surging up to 16 per cent. The rally was led by MMTC, which jumped 14.58 per cent to ₹79.52 amid heavy volumes, followed by IFCI climbing 6.15 per cent to ₹74.50 and Sigachi Industries gaining 5.63 per cent to ₹53.21. The upbeat sentiment extended to other low-priced stocks as well, including IDBI Bank (up 3.66 per cent), Delta Corp (up 3.24 per cent), Allcargo Terminals (up 3.30 per cent), Geojit Financial Services (up 1.67 per cent), and HMA Agro Industries (up 2.58 per cent), each recording notable gains. Real estate and infrastructure players like Shriram Properties and Vascon Engineers also saw increased investor interest, rising 3.51 per cent and 4.83 per cent, respectively. In comparison, BSE Sensex underperformed, trading 0.19 per cent lower at 81,156.89 level, around 12:50 PM. Individually, shares of MMTC surged sharply today, driven by heavy trading volumes. By 12:50 PM, approximately 14.92 million shares worth ₹115.34 crore had changed hands on the BSE, while on the NSE, the volume was considerably higher with 118.83 million shares traded, amounting to ₹918.62 crore. IFCI also rallied on robust volumes. Around the same time, 21.59 million shares worth ₹156.14 crore were traded on the BSE. On the NSE, 118.5 million shares exchanged hands, generating turnover of ₹857.63 crore. IDBI Bank saw similar action, with 11.72 million shares worth ₹111.29 crore traded on the NSE, and 5.17 lakh shares worth ₹4.89 crore changing hands on the BSE. Meanwhile, Shriram Properties advanced on the back of strong Q4 results. The company's net profit more than doubled, rising 137 per cent Y-o-Y to ₹47.7 crore in Q4FY25. Revenue grew 19 per cent to ₹427.5 crore, while Ebitda nearly doubled to ₹89.2 crore. Net debt fell 26 per cent Y-o-Y, reducing the debt-equity ratio to 0.24x.
Business Standard
4 days ago
- Business
- Business Standard
MMTC consolidated net profit declines 96.80% in the March 2025 quarter
Sales decline 64.06% to Rs 0.23 crore Net profit of MMTC declined 96.80% to Rs 2.23 crore in the quarter ended March 2025 as against Rs 69.78 crore during the previous quarter ended March 2024. Sales declined 64.06% to Rs 0.23 crore in the quarter ended March 2025 as against Rs 0.64 crore during the previous quarter ended March 2024. For the full year,net profit declined 54.92% to Rs 86.63 crore in the year ended March 2025 as against Rs 192.18 crore during the previous year ended March 2024. Sales declined 49.63% to Rs 2.69 crore in the year ended March 2025 as against Rs 5.34 crore during the previous year ended March 2024. Particulars Quarter Ended Year Ended Mar. 2025 Mar. 2024 % Var. Mar. 2025 Mar. 2024 % Var. Sales 0.230.64 -64 2.695.34 -50 OPM % -11843.48-5123.44 - -5154.65-3044.01 - PBDT 13.9669.36 -80 133.14159.72 -17 PBT 12.4768.01 -82 128.63155.38 -17 NP 2.2369.78 -97 86.63192.18 -55
Mint
7 days ago
- Business
- Mint
Buy or sell: Vaishali Parekh recommends three stocks to buy today — 26 May 2025
Buy or sell stocks: Amid broad-based buying, the key benchmark indices of the Indian stock market staged robust gains on Friday last week. The Nifty 50 index finished 243 points higher at 24,853. The BSE Sensex surged 769 points and closed at 81,721. The Bank Nifty index ended 456 points higher at 55,398. The broader market mirrored the benchmark's performance, with the BSE Mid-cap and Small-cap indices advancing 0.5% and 0.45%, respectively, signalling a healthy risk appetite among investors. Vaishali Parekh, Vice President—Technical Research at Prabhudas Lilladher, believes the Indian stock market bias has turned positive. The Nifty 50 index witnessed a strong bounce back from 24,500 levels, and the Prabhudas Lilladher expert said it is set to touch 25,400 soon. Speaking on the outlook of the Nifty 50 index, Vaishali Parekh said, "The Nifty 50 index has indicated a strong pullback from near the 24,500 zone with a bullish candle formation on the daily chart with overall bias maintained and can anticipate for further rise in the coming sessions with upside targets 25,400 and 25,600 levels expected. As mentioned earlier, the index would have a crucial support zone near the 24,500 level. A decisive breach above the 25,000 zone shall trigger fresh upward movement with the broader markets also showing active participation to support the benchmark index." "The Bank Nifty index has indicated a strong bullish candle formation with bias improving. Most of the frontline banking stocks have shown positive signs of upward move, accompanied by most PSU banks, which look good. As mentioned earlier, the index needs to breach above the 55,700 zones decisively to trigger a fresh upward move, having targets of 57,200 and 58,500 possible in the coming days," said Parekh. Parekh said that today, support for the Nifty is at 24,700, while resistance is at 25,100. The Bank Nifty will have a daily range of 55,000 to 56,000. Regarding stocks to buy today, Vaishali Parekh recommended three buy or sell stocks: MMTC, Chambal Fertilisers and Chemicals, and Jindal SAW. 1] MMTC: Buy at ₹ 64, Target ₹ 70, Stop Loss ₹ 60; 2] Chambal Fertilisers and Chemicals: Buy at ₹ 597, Target ₹ 630, Stop Loss ₹ 585; and 3] Jindal SAW: Buy at ₹ 216, Target ₹ 225, Stop Loss ₹ 210. Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
