Share Price of MSTC Zoomed 20% After Signing MoU with Burn Standard

Sharing is caring!

Shares of MSTC touched its 52-week high of Rs 147.80, adding 20 percent intraday on November 7 after the company signed MoU with Burn Standard for e-auction services.

The company has entered into a Memorandum of Understanding (MoU) with Burn Standard Co Limited for e-Auction services for the sale of movable assets and immovable assets, as per BSE release.

The agreement shall remain valid up to March 31, 2021, until it is terminated by either party by giving three months notice, it added.

On November 6, Larsen and Toubro has appointed the company as the selling agent as per the terms of selling agency agreement entered by both the parties on October 29, 2019 for the sale of scrap and rejected/condemned/obsolete secondary arising (ferrous and non-ferrous) as well as surplus obsolete stores, equipments and misc. articles etc. for buildings and factories IC of L&T in India through MSTC’s e-Auction website.

SMEStreet Desk

SMEStreet is fast growing platform dedicated to entrepreneurs from small and medium sized businesses (SMEs). Committed to facilitate Knowledge & Networking for Business Growth, SMEStreet offers value added content which shows the actual voice of Indian MSMEs.

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Back to top button
%d bloggers like this: