Page 3 - Mmtc

MMTC plans foray into new commodities, eyes pharma, engineering goods

Minor minerals are targeted for exports and will be canalised through MMTC

MMTC eyes Rs five billion turnover from e-commerce operations

The online transactions are meant for sale of Indian gold coins and jewellery, domains where the trading giant has proven edge

MMTC is rethinking decision to sell its residual 9.5% equity in ICEX

Initially, MMTC had 26 per cent of the equity in the exchange but its stake had gradually shrunk

MMTC sets the ball rolling for minor mineral exports, trading of drugs

MMTC has offered to provide support to about 200 jewellery MSME exporters by supplying gold for export promotion through SEZ (Special Economic Zone) at Sitapura near jaipur and Noida

Merger of STC, MMTC under process: Commerce minister Suresh Prabhu

A merger of state-run trading firms MMTC and STC is on the cards and the matter is under process, Commerce and Industry Minister Suresh Prabhu has said. "That is something which is already on cards because STC unfortunately has become a sick company. Therefore, there are some measures which are being taken already and this matter is under process," Prabhu told PTI. He said this while replying to a question whether the government is moving ahead on the proposal to merge Metals & Minerals Trading Corporation of India (MMTC) and State Trading Corporation (STC). STC, Project & Equipment Corporation of India (PEC) and MMTC are under the administrative control of the ministry. Earlier, the commerce ministry had commissioned a study to work out a new structure for three state-owned trading firms MMTC, STC and PEC. While the government wholly owns PEC, it has about 90 per cent stake in MMTC and STC. The merger of MMTC and STC would result in synergy of operations. MMTC and STC were ...

MMTC surges 15% on bonus issue proposal

The stock surged 15% to Rs 59.75 on the BSE after the state-owned company said that its board will meet on Monday, March 19, 2018 to consider bonus issue proposal.

MMTC to auction 12 tonnes of gold from GMS in next 10 days

MMTC aims to sell 150,000 India Gold Coins by the end of 2018-19

MMTC aims to complete stake sale in Indian Commodity Exchange by 2017-end

MMTC is exiting ICEX as being a minor equity participant, it would be deprived of any say in decision making

MMTC to offload 26% equity in Sical Iron Ore Terminal

Government-owned trading company MMTC has initiated a process to offload its entire 26 per cent equity in Sical Iron Ore Terminal (SIOTL), a subsidiary of Sical Logistics. The terminal has been set up at Kamarajar Port Ltd (formerly Ennore Port Ltd).This is the second joint venture company where MMTC is completely exiting its stake. In June, it had invited bids from those interested to sell its residual 9.5 per cent stake in Indian Commodity Exchange (ICEX), signalling its exit from the bourse. Though MMTC did not elaborate on the reasons, it was attributed to ICEX's dismal performance, with trading suspended for three years.In the latest move, MMTC has invited bids from prospective buyers for its stake in SIOTL. It had already floated a Request for Proposal to this effect. The financial bids for the sale would be opened on November 10. It's not known why MMTC is divesting; chairman and managing director Ved Prakash did not respond to calls or answer text messages. MMTC had invested ..

MMTC to sell 26% equity of Sical Iron Ore Terminals

This is the second joint venture (JV) company where MMTC is completely exiting its stake.

MMTC to tie up with NMDC for iron ore exports to Japan, South Korea

2.6 million tonnes to be exported each year

MMTC floats tenders for pig iron exports by NINL

State run trading company MMTC Ltd has invited global tenders from interested overseas buyers for exports of non-alloy pig iron. The pig iron has been produced by public sector steel company Neelachal Ispat Nigam Ltd (NINL) where MMTC is the largest equity holder.The exports of pig iron of up to 30,000 tonnes would be canalised through MMTC. The material is to be shipped through the Paradip port. In last fiscal, NINL produced 0.51 million tonnes of pig iron and sold 0.5 million tonnes (mt).In the first two months of 2017-18, NINL's pig iron sales has not matched its production. In April, the steel maker produced 55,949 tonnes of pig iron but managed to sell 29,949 tonnes. Likewise, NINL sold 38270 tonnes of pig iron against its production of 58,283 tonnes. NINL produces both basic and foundry grades of pig iron.NINL has become the country's largest exporter of saleable pig iron since 2004-05 . Pig iron and LAM (low ash metallurgical) coke produced by NINL has established its ...

MMTC gains over 7% as net profit triples in Q3

The stock had reached a high and low of Rs 67.60 and Rs 65.10 respectively during the day

MMTC will infuse Rs 150 core capital in Neelachal Ispat Nigam Ltd

The SBI cap has estimated Rs 300 crore capital infusion for taking up the pending proposals

MMTC Q2 net profit plunges to Rs 10.45 crore

Total expenses reduced to Rs 1,434.51 crore as compared to Rs 4,931 crore a year ago

MMTC to tie-up with SBI to sell govt minted 'Indian Gold Coin'

The coins will also available at all the 383 outlets of the PSU

Govt planning to sell 15 per cent stake in MMTC

The government had last sold 9.33 per cent stake in MMTC to raise aboutRs 570 crore in June 2013

MMTC ties up with banks to sell Indian Gold Coin

The coins are currently available at all MMTC outlets across India along with select branches of seven banks

MMTC floats EoI for selecting ferro alloys suppliers

EoI is meant for manufacture of steel in MMTC-promoted Neelachal Ispat Nigam at Kalinganagar, Odisha