7 months ago
MMTC and Vedanta Shares Surge
On January 14, 2024, the share prices of two big companies, MMTC and Vedanta, went up a lot.
MMTC's shares went up by 9.22% because gold and silver prices are very high right now.
More people are buying and selling MMTC shares, which is a government-owned company that trades in precious metals.
Vedanta's shares also went up by 6.06%, hitting a record high.
This company is involved in oil and metals, and its shares have been going up a lot this month and last year.
Experts think the share prices might go even higher because of the increase in metal prices around the world.
MMTC share price surged 9.22% to ₹69.49 on BSE on January 14, 2024.
Vedanta share price jumped 6.06% to ₹675.70, hitting a record high of ₹679.40.
Trading volumes for MMTC spiked to 2 crore shares, significantly higher than average.
The rise in share prices is driven by record high gold, silver, and metal prices due to global factors.
Vedanta's market valuation reached ₹2,64,224.92 crore, with a 11.88% gain this month and 36% last year.
- Who
- MMTC and Vedanta, two major trading and metals companies
- What
- Share prices surged significantly on January 14, 2024
- Where
- BSE (Bombay Stock Exchange) and NSE (National Stock Exchange)
- When
- January 14, 2024
- Why
- Driven by a surge in gold, silver, and metal prices, and increased trading volumes
Key facts
- MMTC Share Price Increase
- 9.22%
- MMTC Current Share Price
- ₹69.49
- MMTC Trading Volume (Jan 14)
- 2 crore shares
- MMTC Average 1-Week Volume
- 48 lakh shares
- MMTC Average 1-Month Volume
- 1 crore shares
- Gold and Silver Prices
- Record high levels
- MMTC's Role
- Government-owned trading company in precious metals
- MMTC Technical Outlook
- Breakout of bullish flag, potential target ₹78-₹78.5
- Vedanta Share Price Increase
- 6.06%
- Vedanta Current Share Price
- ₹675.70
- Vedanta Record High
- ₹679.40
- Vedanta Market Valuation
- ₹2,64,224.92 crore
- Vedanta Monthly Gain (BSE)
- 11.88%
- Vedanta Annual Gain
- 36%
- Metal Index Gain (BSE)
- 2.67%
- Metal Index Record High (BSE)
- 38,657.24
- Nifty Metal Index Gain
- 2.7%
Quotes
Siddhartha Khemka
Head of Research, Wealth Management, Motilal Oswal Financial Services Ltd
“The Nifty Metal index rose 2.7 per cent, scaling fresh record highs, extending its rally for the third consecutive session as global metal prices surged”
thehansindia.com
