At this price, the stock has jumped 38 per cent in three sessions and 57 per cent in may after an 8 per cent gain in april and a 6 per cent gain in March.
MMTC Share Price Hit A 52-Week low of 42.55 on April 7 this year and a 52-wheelk high of 131.88 on July 26 last year.
MMTC on May 29 Reported A 96.8 per cent year-on-year plunge in its consolidated network for Q4FY25 to 2.23 Crore, Compared to 69.78 Crore in the same Quarter Last Year. Total Income Dropped 32 per cent yoy to 44.14 Crore in Q4FY25 From 64.98 Crore in Q4FY24.
IS MMTC Still a Stock to Buy?
The stock’s sharp gains since March have stretched its valuations. Its Current Trailing Twelve-Month Price-to-Earnings (PE) Ratio, Near 150, is high in the industry.
The stock looks overbuff, and technical charts indicate the possibility of a profit booking.
Anshul Jain, The Head of Research at Lakshmishree Investments, Highlighted that MMTC Stock Broke Out of a Cup and Handle Pattern at 63 and rallied sharply, testing the 50 per cent retracement level of its 66.25 per cent fall over 37 weeks, placed at 86.
“The rally has been steep and vertical, indicating that Profit Booking at Current Levels is Highly Likely. TRADERS are Advised to Book Profits and Wait for a Fresh Accumulation or Consoliation Pattern to Devolop Before Considering New long positions for the next leg, “said Jain.
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Disclaimer: This story is for educational purposes only. The views and recommendations about individual analysts or broking companies, not mint. We Advise Investors to Check With Certified Experts Before Making Any Investment Decisions, As Market Conditions Can Change Rapidly, and Circumstances May Vary.
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