Ace Investor Ramesh Damani To Meet This Company's Management; Shares Skyrocket 6% - Details

MSTC Limited's shares rose by 6.14 per cent as of 1:58 PM, amid the reports of the company's management meeting ace investor Ramesh Damani.   The company also mentioned in its exchange filing about the scheduled meeting with Damani on December 9th at 11 am at the registered office of the company.  This surge reflects market optimism around the company's engagements with prominent investors.

According to publicly available statistics from Trendlyne, Damani controls more than 1% of businesses, including Protean eGov Technologies Ltd., Goldiam International Ltd., Panama Petrochem Ltd., and Vadivarhe Speciality Chemicals Ltd. His stock holdings were valued at Rs 162 crore as per the last count.

“In compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, MSTC Limited has scheduled two important one-on-one meetings. The first meeting will be held with Shri Ramesh Damani on Monday, December 9, 2024, at 11:00 AM. The second meeting is with M/s. Modifi Investment Services Private Limited, set for Monday, December 16, 2024, at 4:00 PM. Both meetings will take place at the company’s registered office,” the exchange filing stated.

MSTC: Brief Overview

MSTC, a Mini Ratna Category-1 Central Public Sector Enterprise (CPSE), specializes in offering e-commerce solutions across various sectors. The government currently holds a 64.75 per cent stake in the company.  MSTC's stock surged by 5.96 per cent, reaching a peak of Rs 771.30, reflecting strong investor confidence.