MMTC shares surge over 18%; market cap climbs `830 cr
Shares of MMTC surged over 18 per cent on Thursday after the government approved renewal of agreement for supplying up to 16.5 million tonnes (MT) of <g data-gr-id="19">high grade</g> iron ore to steel plants in Japan and South Korea over three years till March 2018.
The stock zoomed 18.04 <g data-gr-id="14">per cent</g> to settle at Rs 54.30 on the BSE. During the day, it soared 20 per cent to Rs 55.20.
At the NSE, shares of MMTC rallied 18.17 <g data-gr-id="16">per cent</g> to end at Rs 54.30. Following the sharp rise in the stock, the company’s market value rose by Rs 830 crore to Rs 5,430 crore. On the volume front, 27.83 lakh shares of the company changed hands at the BSE and over one crore shares were traded at NSE during the day.