Multibagger PSU stock MMTC jumps 150% in six months. Experts see more upside
Multibager stock: PSU stocks have deliverd stellar return to its investors in last one year. While state-owned banks have taken pause in their continuous rally, some PSU stocks are still in uptrend. MMTC shares are one of them.
MMTC share price has rallied near 150 per cent in last six months, but stock market investors believe that the stock still has some steam left in it. According to stock market experts, MMTC has recently announced its ambitious mining planns in regard to rare minerals like lithium, cobalt, silicon, etc. This is going to benefit the company from monetary perspective from medium to short term.
They also said that the Union Cabinet has approved amendment of second schedule the Mines and Minerals Act for specifying rate of royalty in respect of 3 critical and strategic minerals, namely, Lithium, Niobium and Rare Earth Elements (REEs), which is good for MMTC as a company. However, experts believe that one should hold the stock for further rise as it may continue to scale new highs. On reasons that have been fueling MMTC share price, Rajesh Sinha, Senior Research Analyst at Bonanza Portfolio said, "MMTC is a PSU company engaged in business of minerals, metals, precious metals, agro products, fertilizers & chemicals and coal & hydrocarbons.
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