Above Rs 54-55, MMTC may test 62-65: Gaurav Bissa

Gaurav Bissa of LKP Securities told CNBC-TV18, "MMTC is trading near its long-term support levels of Rs 54-55. If the stock sustains Rs 54-55 level, it can test around Rs 62-65 odd levels in the coming days. I would not say that hold on to the stock for a year or two but certainly keeping the stock with a stoploss of Rs 50-55 that can provide a better exit point for this stock."

At 11:35 hrs MMTC was quoting at Rs 56.70, down Rs 0.10, or 0.18 percent. It has touched an intraday high of Rs 58.30 and an intraday low of Rs 56.55.

Disclosure: Analyst does not have any personal holdings in the stock but it is possible that he may have recommended the stock to his clients at LKP.