MMTC513377Trading, minerals
MMTC shares spiked 6.5% after Supreme Court dismissed an appeal against the NCLT settlement, upholding the March order
By ScoutQuest · · 1 min read
- NCLT settlement amount
- 31,950 crore rupees
- Stock move since announcement
- 6.5 percent
- Consolidation base
- 50
- Consolidation upper range
- 75
Heard on business television between 15:29:05 - 15:32:05 IST.
- Supreme Court dismissed appeal against the 31,950 crore NCLT settlement and upheld the March NCLT order, seen as positive for the stock.
- Stock spiked as much as 6.5% since the announcement.
- Analyst noted long consolidation of about one and a half to two years, with 50 as base and 75 on the upside.
- Analyst said positive triggers occur periodically but get sold into, similar to Elcon, and remains not very constructive on the stock.
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