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MMTC
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About MMTC
MMTC Ltd facilitates foreign trade in India and canalises exporting and importing essential minerals and metals. It is a public sector undertaking which was incorporated in 1963. The Ministry of Commerce and Industry and the Government of India administer the company. It trades across minerals, metals, precious metals, agro products, fertilisers and chemicals and coal and hydrocarbons. The company went public in 1992 after an IPO.
In 1994, the company entered into the European market with exports of one lakh tonnes of iron ore to Slovakia and Romania. During the same year, it commenced the import of gold and silver against special import licenses for supply to customers in the domestic area.
In 2001, It signed a memorandum of understanding (MOU) with the Department of Commerce in the Ministry of Commerce and Industry. The company acquired ₹800 crore deal from Japanese and South Korean companies for the iron ore supply in 2003.
In 2008, the company signed a pact with Swiss metal company PAMP to set up a gold refinery in Sohna, Haryana. It won the D & B Top Ranking Corporate Award in the Trading Sector For 2007. In 2013, the company was recognised for being one of the 30 Most Talented HR Leaders in PSUs and HR Leadership Award presented by the Institute of Public Enterprise (IPE). In 2017, the company’s joint venture company, Neelachal Ispat Nigam Limited (NINL), signed a mining lease agreement for iron ore.
In 2022, it executed the Share Purchase Agreement and Escrow Agreement to sell its entire equity holding of the Company in NINL to Tata Steel Long Products Limited.
Business Segments
- Agro Products: Under this segment, the company is a supplier/buyer of wheat, rice, maize, sugar, etc.
- Fertilisers: It imports finished, intermediate and raw fertilisers and handles about 3 to 4 million tonnes of fertilisers.
- Metals and Industrial Raw Materials: MMTC deals with the trading of non-ferrous metals like copper, zinc, etc and Industrial Raw Materials like Brown Fused Alumina, White Fused Alumina, Ferroalloys, etc.
- Minerals: Under this segment, the company is engaged in the trading of Iron ore Fines and lumps, Chrome Ore, Chrome Concentrate, Manganese Ore and other items.
- Precious Metals: It acts as an authorised agency of the Government of India for the import of gold, silver, platinum, palladium, rough diamonds, emeralds, rubies and other semi-precious stones
Corporate Actions
- In 2010, the company announced a bonus issue of shares in the ratio of 1:1, a record date of July 29, 2010.
- MMTC announced a bonus issue of shares in the ratio of 1:2 at a record date of May 03, 2018.
Parent Organisation
Govt of India
Managing Director
Hardeep Singh
Founded
1963
NSE Symbol
MMTC
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Mmtc Ltd FAQs
What is the share price of Mmtc Ltd (MMTC) shares?
Mmtc Ltd (MMTC) share price as of July 26, 2024, on NSE is Rs 106.85 (NSE) and Rs 106.85 (BSE) on BSE.
Can I buy Mmtc Ltd (MMTC) from Angel One?
Yes, You can buy Mmtc Ltd (MMTC) shares by opening a Demat account with Angel One.
How do I buy Mmtc Ltd (MMTC) from Angel One?
Mmtc Ltd (MMTC) share can be bought through the following modes:
1. Direct investment: You can buy Mmtc Ltd (MMTC) shares by opening a Demat account with Angel One.
2. Indirect investment: The indirect method involves investing through ETFs and Mutual Funds that offer exposure to Mmtc Ltd (MMTC) shares.
1. Direct investment: You can buy Mmtc Ltd (MMTC) shares by opening a Demat account with Angel One.
2. Indirect investment: The indirect method involves investing through ETFs and Mutual Funds that offer exposure to Mmtc Ltd (MMTC) shares.
What is the main business of MMTC?
MMTC is a government-owned corporation that primarily exports and imports precious metals, minerals, and other commodities. It also has a retail presence, selling its own brand of gold and silver coins and medallions.
Who are the promoters of MMTC?
The President of India is the promoter of MMTC.
What are the Subsidiaries that comes under MMTC?
MMTC Transnational Pte Ltd in Singapore, MMTC-PAMP India Pvt Ltd, MMTC Ltd (Dubai Branch), MMTC-NEEP Trade Centre Ltd, MMTC-AGRO TECH Ltd, and MMTC-TAMP are among its subsidiaries.
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