Bonanza for MMTC investors

In addition,the board has also approved the issue of bonus shares in the ratio of 1:1 to the existing equity holders of the company.

MMTC’s board has also proposed to split the company’s shares in the ratio of 1:10,implying that shareholders would get ten equity shares at a face value Rs 1 each for every share of Rs 10 face value they currently hold.

The company will convene an extraordinary general meeting of its shareholders on July 20 to seek approval for the proposals mooted by the board.

Shares of MMTC today closed at Rs 32,650 on the BSE,up 0.35 per cent from the previous close.