Miniratna Stock Fixes Record Date For Final Dividend, Stock Trading At 59% Discount From Highs

MSTC Limited is a Mini Ratna Category-I PSU under the administrative control of the Ministry of Steel, Government of India. Government of India has 64.75% share-holding in the company. The company was incorporated as "Metal Scrap Trade Corporation Limited", under the provisions of the Companies Act, 1956 on September 9, 1964 at Kolkata. It was granted the certificate of commencement of business on April 12, 1965 by the RoC.

The board of the small cap company has recently fixed the record date for final dividend. Check key takeaways below:

MSTC Limited Fixes Record Date For Final Dividend

The board of director of the company has stated in its regulatory filing, "NOTICE is hereby given that the fifty seventh Annual General Meeting ("AGM") of the Members of MSTC Limited will be held on Tuesday, September 27, 2022, at 11:00 A.M. through Video Conferencing ("VC") / Other Audio-Visual Means ("OAVM") to transact the following businesses: To confirm 1st and 2nd Interim dividends paid @ Rs. 2.00 per share and Rs. 6.50 per share respectively on equity shares for the Financial Year 2021-22 and to declare final dividend @ 4.40 per share (44%) on equity shares for the financial year 2021-22."

The Company has fixed Friday, lóth September, 2072 as the 'Record Date' for determining entitlement of members to receive final dividend for the FY 2021-22.

The final dividend for the financial year 2021-22, if declared at the 57th AGM, will be paid within the stipulated time, to all those members whose names appear on the Company's Register of Members / Beneficial Owners as at the closure of business hours on Friday, 16th September,2022 as the 'Record Date'.

MSTC Limited Stock Outlook

The current market price of the stock is Rs 277 apiece with a decline of 0.79% intraday.

MSTC Stock Trading At A High Discount

The stock is trading at a discount of 58.67% from the highs.

MSTC 52-Week High/Low

The 52-week high of the stock is Rs 542 apiece and 52-week low is Rs 224 apiece.

MSTC Stock Market Capitalization

The market capitalization of the stock is Rs 1,962 crore at the time of writing the story.

MSTC About

The company is one of the leading PSU entity engaged in providing e-commerce related services across diversified industry segment offering e-auction/e-sale, e-procurement services and development of customized software/solutions.

It has emerged as a pioneer in the e-auction segment catering to the Government sector, partnering with different Government agencies and ministries in conducting e-Auctions.