The MSTC Ltd share price surged up to ₹926 on Tuesday, marking an 8% increase and establishing a new 52-week high. Additionally, the intra-day low touched ₹847. The 52-week low level for the company’s shares stands at ₹239.65. Over the past year until March 2023, the shares have witnessed a remarkable 282% growth from their previous low price. The market capitalization of MSTC Ltd currently stands at ₹6,343.74 crore.
According to market experts, there is a possibility of further momentum in the coming days for MSTC Ltd shares. Monark, an analyst, highlighted the immense potential in the scrap vehicle business and emphasized that MSTC Ltd’s fundamental principles, coupled with legacy issues, are robust. Monark suggested a potential increase of 70-130% for MSTC Ltd in the next 2-3 years, projecting a target price of ₹1,726. This signifies a 7.5 times forward P/E ratio, indicating a substantial upside from the current price.
Monark also noted that MSTC Ltd is centrally owned by the government and has a stellar track record of successfully conducting impartial auctions for government entities in India. Through its online marketplace, the Gross Merchandise Value (GMV) for the financial year 2023 has increased by 33% from the previous year, reaching ₹3,01,500 crore.
Analyzing the recent performance of MSTC Ltd shares, they have experienced a notable uptrend. Within a month, the shares climbed up to 73.67%, and over six months, the increase was an impressive 130%. Year-to-date, the shares have risen by 33%, while over the entire year, the growth is an astonishing 190%. Over a span of five years, MSTC Ltd shares have witnessed a remarkable surge of 673.94%.
It is important to note that the information provided here is not investment advice. The details presented focus on the performance of the shares and expert opinions. Prior to making any investment decisions, individuals are advised to exercise their own judgment and analysis.
In conclusion, MSTC Ltd has shown significant growth in its share price, reaching new highs and garnering attention from market experts. The potential in the scrap vehicle business, coupled with the company’s strong fundamentals and government ownership, contributes to the positive outlook. Investors should, however, conduct thorough research and exercise caution before making any investment decisions.