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MMTC announces share bonus and split

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The board of MMTC approved a 10-for-1 stock split and a 1-for-1 bonus share issue on Tuesday.

Shares in the state-run trading firm ended down 1.8 percent at 31,943 rupees, with volumes of 16,164 shares.

The counter had jumped nearly 21 percent to 34,476.60 rupees on June 15 after the firm’s announcement that its board would consider this move.

MMTC shares, which generally trade with low volumes, have gained as much as 6.8 percent this month.

MMTC shares drop 4.1 percent

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Shares in state-run trading firm MMTC fell 1,412 rupees to 33,064 rupees, after rallying nearly 21 percent in the previous session.

The stock had jumped to 34,476.60 rupees on Tuesday after the firm said it would consider a bonus issue and stock split on June 29.

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