The MMTC (Minerals & Metal Trading Corporation Ltd) is stock that has gone up 13 times in the past three months, and has a market cap of around Rs 2 lakh crore.!!!
According to SEBI circular that promoter holding should not exceed 75%, is not applicable to state-owned companies.
The government holds 99.33% in MMTC out 5 crores shares and, of the remaining, a couple of mutual funds hold 3.27 lakh shares out of the 3.34 lakh shares with minority shareholders.
With only 7369 shares with the common man to be traded or invested.
Mutual funds have gradually diluted their holdings,with retail investor increasing their holdings.
Conclusion: Somebody had bought 2700 shares,before the stock price started moving Skywards!!!Its Ticking Time bomb!!!
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