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Stock of the week: MMTC shares were the Alexander of the week. Despite falling 5.45 percent on Friday, the state-owned company’s shares have enriched its investors over the past week. The stock has rallied nearly 50 percent in just seven days and is more than two-and-a-half times off its 52-week low.
Rs. 26.30 to Rs. reached 70.35
MMTC, India’s first superstar trading house, has been the country’s leading exporter in the field of mineral exports for the past four decades. Share prices are flying right now. While in the last 5 days he spent Rs. 45.40 to Rs. 65 has returned more than 43 percent, while the stock has jumped 49.49 percent in a week. The stock has gained 68.83 percent in the last one month. Its 52-week high price is Rs. 70.35 and a low of Rs. It is 26.30.
On May 11, one share of MMTC was priced at Rs 30.75. Today it is at Rs 65. That is, in just 4 months, this stock has earned its investors Rs. 1 lakh to Rs. More than 2 lakhs. While in the last six months it has returned 113.11 percent. That is, in six months he made Rs. 1 lakh to Rs. 2.13 lakhs have been converted.
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Rupak Dey, senior technical analyst at LKP Securities, said before the market opening that MMTC has given a consolidation breakout on the daily chart. Additionally, the stock has consistently remained above important moving averages, indicating its strength. The Relative Strength Index (RSI) is showing a bullish crossover pattern.
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