MMTC continues to lose its shine, it hit a new 52-week low today at Rs.191 and though it has recovered from this low, it remains in the red – currently down almost 4%.

The stock is down on news that the Empowered Group of Ministers (EGoM), headed by Finance Minister is scheduled to meet today derive at the base price for divesting 9.33% in MMTC. The issue is scheduled to hit the markets tomorrow, 13^th June.  The stake sale was to earlier happen in March but valuation concerns led to deferment.