MMTC shares hit 52-week high for fourth day in a row, rise nearly 45% in 5 days

MMTC Share Price: Shares of state-run MMTC hit a 52-week high for the fourth consecutive session on BSE after they rose to the day's Rs 89.04 each on Tuesday (October 17).

The stock of India's largest trading body ended up 4.49 per cent, or Rs 3.74, at Rs 87.08 on Tuesday.

The stock of one of the two highest-earners of foreign exchanges for India closed the trading session on Monday at Rs 83.34 and opened at Rs 87.01 on Tuesday before touching the 52-week high.

MMTC's fourth 52-week high in succession

This is the fourth session in succession when the company's shares have hit a 52-week high.

The stock touched the 52-week high of Rs 70.72 on October 12 (Thursday) and of Rs 79.90 on October 13 (Friday). 

In the first trading session after the weekend holidays, the stock touched a fresh 52-week high of Rs 84.89 on Monday (October 17).

Reason behind MMTC's shares rally?

MMTC shares are rallying higher despite the news that Commerce and Industry Minister Piyush Goyal might take a call on the closure of the state-run company.

How MMTC shares have performed in one year

In the last five days, the company's shares have soared 44.94 per cent.

They have skyrocketed 188.15 per cent in the six-month period.

While the shares' year-to-date rise is 126.18 per cent, they have zoomed 147.39 per cent in the last one year.

The MMTC stock has outperformed the benchmark Nifty 50 by huge margins.

The Nifty 50 has traded flat in the last five trading sessions, while it has risen 12.18 per cent in the last six months.

It has gained 8.87 per cent year-to-date and has been up 13.29 per cent in the last one year.