STC Share: The stock market commenced on a positive note this Tuesday, with both the Sensex and Nifty experiencing surges of 0.48% and 0.47%, respectively. Among the performers that contributed to this optimistic scenario was the State Trading Corporation of India (STC) Limited Share. Their shares witnessed a significant jump of 11.17%, touching the mark of ₹177.45 on the BSE, which represents its 52-week high. Alongside this price rise, the trading volume of this share also saw a spike, surging over 5.22 times. The current market capitalization of the company stands at ₹1,026 crores.
From a technical standpoint, the 200-day moving average of the company’s stock was ₹95.00 as of 16th October 2023, while its 50-day moving average stood at ₹117.13. Currently, the share price on BSE is ₹171. A noteworthy development is that the stock’s 50-day moving average recently crossed over its 200-day moving average, hinting at potential long-term strength and upward momentum.
Priced below ₹200, STC share presents an affordable investment opportunity, especially appealing for investors keen on expanding their portfolios without heavy expenditure. STC primarily focuses on the import and export of various bulk commodities including oil, fertilizers, coal, and bullion. Additionally, it steps into the import of essential consumer goods like wheat, sugar, and pulses whenever there’s a demand. A high-level meeting, chaired by the Union Commerce and Industry Minister, Piyush Goyal, is scheduled for 23rd October 2023. The discussion might revolve around the proposal of shutting down three public sector undertakings: MMTC, STC, and PEC.
STC Share: In earlier evaluations, the government had reviewed the roles of these three companies. It had concluded that there was no need for a canalizing agency within the commerce department. Historically, STC served as the canalizing agency for the import of essentials like edible oils, pulses, sugar, and wheat. The government holds a substantial 90% stake in this company. This stock has been under the investors’ radar for significant buying activities and has rendered multi-bagger returns of over 122% in the last three years.