MMTC Share Price Jumps Over 7%: Why This Miniratna Stock Is Catching Investor Attention
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The Indian stock market witnessed strong sectoral action, with several prominent counters recording sharp upward movements. Among the top performers, shares of government-owned MMTC Limited caught investors' attention by rallying over 7% during early trading hours on heavy volume.
Strong Intraday Rally and Volume Surge
At the opening of the trading session, MMTC's stock price witnessed an immediate upward gap, moving past its previous close of ₹62.15.
Intraday High: The stock touched a session high of ₹67.58, marking a strong surge of nearly 8.7% compared to the previous close.
Trading Volume: Alongside the price appreciation, trading activity spiked significantly, recording massive combined volumes across the NSE and BSE as buying interest picked up momentum.
While the stock has experienced fluctuations in recent months—having touched a 52-week high of ₹78.35 and a low of ₹50.10—the sudden spurt in buying has brought the Miniratna counter back into the limelight.
MMTC-PAMP Expands Gold Recycling Operations
The recent stock action coincides with major strategic announcements from MMTC-PAMP, a joint venture between India-based government undertaking MMTC Ltd and Switzerland's bullion refinery MKS PAMP SA.
Addressing future growth strategies, the company's MD and CEO, Samit Guha, announced plans to significantly scale up its gold recycling business. Highlighting the massive potential in reintroducing domestic gold back into the country's economic mainstream, the company aims to reduce India's long-term dependence on gold imports.
As part of its expansion, MMTC-PAMP has already introduced a 10-gram "Heritage" coin minted entirely from certified 999.9+ purity recycled gold. Furthermore, the company is exploring innovative customer-centric models, including doorstep gold collection for recycling, though leadership clarified that it does not operate as an NBFC and cannot offer direct gold loans or leasing facilities.
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