MSTC Lock in 20% Upper Circuit Following Strong Q2 Result

MSTCLTD Shares of state-owned e-commerce and e-auction company MSTC Limited surged 20% to lock in the upper circuit at ₹783.35–₹783.65 on November 13, 2026. The rally followed strong Q2 FY27 financial results and a major regulatory clearance from the Reserve Bank of India (RBI). For the quarter ended September 30, 2026, MSTC's consolidated net profit jumped 57.7% year-on-year (YoY) to ₹74.92 crore, up from ₹47.50 crore in Q2 FY26. Consolidated revenue from operations grew 29.4% YoY to ₹110.02 crore from ₹85 crore. Operating performance strengthened significantly, with EBITDA rising 43.4% YoY to ₹73.89 crore and operating margins expanding by over 650 basis points to 67.16%, supported by zero finance costs and higher e-auction fee realization. In a key strategic milestone, MSTC announced that the RBI granted in-principle authorization on November 11, 2026, to set up and operate a Trade Receivables Discounting System (TReDS) platform. Additionally, the company is evaluating the feasibility of establishing dedicated coal and mineral exchanges. During the first half of FY27, MSTC completed its planned exit from its legacy trading business—reducing marketing segment revenue to zero—while transacting over ₹54,580 crore in goods through its e-commerce vertical. Major Q2 auctions included Hyderabad land parcels worth ₹2,863 crore, Karnataka excise liquor licenses, and an ONGC oil rig.