MMTC rises on the bourses

MMTC is currently trading at Rs. 916.00, up by 4.85 points or 0.53% from its previous closing of Rs. 911.15 on the BSE.
The scrip opened at Rs. 918.00 and has touched a high and low of Rs. 918.00 and Rs. 912.00 respectively.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 1935.00 on 29-Jul-2010 and a 52 week low of Rs. 867.80 on 25-Mar-2011.
Last one week high and low of the scrip stood at Rs. 928.90 and Rs. 901.10 respectively. The current market cap of the company is Rs. 91115.00 crore.
The promoters holding in the company stood at 99.33% while Institutions and Non-Institutions held 0.52% and 0.15% respectively.
MMTC, the country’s largest foreign trading company, is planning to take a major leap in the non-conventional energy sector, after its successful pilot project in Karnataka. The company will invest around Rs 240 crore in the next two years to set up new wind mill units across the country, as a part of diversification.
The company has already commenced its first 15-MW wind farm project in Gajendragad, Karnataka. For the last four years the state-owned firm owns 100 acres of wind farm with 54 wind mills generating over 102 million units of power. It supplies electricity to HESCOM/KPTCL, a unit of Hubli Electricity Supply Company of the Karnataka.
The company’s new investment plan comes in the wake of the success of its 15 MW windmill plant in Karnataka. The pilot project comprising of 25 windmill units was set up in Gajendragad in Gadag district with an investment of Rs 68.75 crore in 2007.