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MSTC Ltd pays bonus share to Verma

Posted on Jan 24, 10:54PM | IBNS

Union Steel Minister Beni Prasad Verma was presented with a Bonus Share Certificate comprising of 59,29,800 Equity Shares of Rs.10 each by MSTC Ltd, an unlisted state-owned commodity trading and e-commerce company.

The bonus share was presented by MSTC Ltd CMD S.K. Tripathi here on Thursday.

MSTC, a Mini Ratna, CPSE functioning under the Ministry of Steel, declared Bonus share in the ratio of 3:1 (i.e. 3 equity shares against one equity share held) during the year 2012-13.

The authorized capital of company is Rs.50 Crore and Paid-up Capital is Rs.8.80 Crore.

For the year 2011-12, the company reported Profit Before Tax of Rs.176.15 Crore, 18pc higher than last year.

The Volume of Business was Rs. 21,751 Crore which is around 54pc more than last year.

MSTC's profit per employee during 2011-12 was Rs. 58 Lakh which is one of the highest among all e-Commerce companies in Public/ Private Sector.

MSTC's e-Commerce services have resulted to transparent discovery of appropriate product price, said the government.

Its e-commerce portal is a fair and prompt electronic market place for carrying out genuine trading activities, it said.