Shares of MSTC Limited surged 6% after the company secured a significant work order from Coal India Limited (CIL). As of 10:19 AM, the shares were trading 6.02% higher at Rs 546.05.
According to an exchange filing dated March 21, 2025, MSTC will serve as the e-auction service provider for conducting coal and coal product auctions for CIL and its subsidiaries over the next two years.
This development follows an earlier announcement on March 10, 2025, and aligns with SEBI’s November 11, 2024, circular under Regulation 30 of the SEBI (LODR) Regulations, 2015. The contract covers 40% of the estimated work value and includes 166 auction events during the contract period.
MSTC emphasized that the order was awarded by a domestic entity and pertains solely to the Indian coal market. The company also clarified that neither its promoter nor promoter group has any involvement in Coal India Limited, ruling out any related party transaction concerns.
MSTC shares opened at ₹529.75 and surged to an intraday high of ₹548.80 before dipping to ₹522.60. The stock remains significantly below its 52-week high of ₹1,036.90 but stays above its 52-week low of ₹411.10.
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