State Trading Corporation Shares Jump Over 50% In Three Days

State Trading Corporation shares jumped as much as 10 per cent to Rs 189.40 on Tuesday, extending their gains to the third straight day. In last three trading sessions the state-owned company has surged 56 per cent. 

The rally in State Trading Corporation shares began on December 23, when Smithblock Financial Services Pvt Ltd bought four lakh shares in the company at a price of Rs. 142.25 under a block deal. However, there was no specific news behind the rally in the shares of State Trading Corporation. 

State Trading Corporation is a state-owned holding company. Its businesses include export and import of commodities including precious metal, mineral, mineral ores and agro-commodities. The company also imports various equipment, including medical equipment, security equipment, surveillance equipment, laboratory equipment, tourism equipment, sports equipment and multimedia equipment. 

For the fiscal year 2015-16, State Trading Corporation had reported a profit of Rs 18 crore on revenues of Rs 10,826 crore. 

As of 12.07 p.m., State Trading Corporation Shares were locked in upper circuit with 10 per cent gains at Rs 189.40 on the National Stock Exchange.