MSTC share price hit 20% upper circuit in early trade on Friday after the company reported strong earnings for the second quarter of FY27. The PSU stock surged 20% to Rs 783.65 apiece on the BSE.
The company's net profit in the September quarter jumped 51.8% to Rs 74.60 crore from Rs 49.15 crore in the year-ago period. Revenue from operations in Q2FY27 grew 29.43% to Rs 110.02 crore from Rs 85 crore, year-on-year (YoY).
At the operational front, EBITDA during the second quarter increased 43% to Rs 73.89 crore from Rs 51.53 crore, while EBIBTDA margin improved to 67.15% from 60.62%, YoY.
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MSTC said it was in the process of examining the feasibility of setting up Coal & other Mineral exchanges. The company is also developing a TReDS platform and has applied to RBI for requisite clearance.
Technical Outlook
MSTC share price has exhibited notable volatility, currently orchestrating a robust technical recovery with an impressive ~40% surge from its recent Rs 530 support floor, backed by exceptional volume expansion, noted Kush Bohra, Founder, kushbohra.com.
“The medium-term structure nears a cup-and-handle breakout above the crucial Rs 800 resistance pivot. While overextended momentum oscillators caution against fresh long initiations at current quotes, existing participants should strategically lock in partial profits while trailing remaining stops at Rs 755 to capitalize on ongoing upside continuation,” he said.
MSTC Share Price Performance
MSTC share price has delivered strong returns to investors. The PSU stock has risen 15% in one month and has rallied 35% in three months. MSTC shares have jumped 81% in six months and have gained 48% in one year.
Over the past three years, MSTC stock price surged 85%, while it nearly doubled in five years.
At 10:15 AM, MSTC share price was trading 19.29% higher at Rs 779.00 apiece on the BSE.
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