MOIL climbs on recording 6% growth in production of Manganese Ore in FY23
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MOIL is currently trading at Rs. 145.55, up by 3.05 points or 2.14% from its previous closing of Rs. 142.50 on the BSE.
The scrip opened at Rs. 143.00 and has touched a high and low of Rs. 145.80 and Rs. 143.00 respectively. So far 10791 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 198.95 on 05-Apr-2022 and a 52 week low of Rs. 137.30 on 20-Jun-2022.
Last one week high and low of the scrip stood at Rs. 148.40 and Rs. 140.65 respectively. The current market cap of the company is Rs. 2966.81 crore.
The promoters holding in the company stood at 64.68%, while Institutions and Non-Institutions held 18.00% and 17.32% respectively.
With production of 13.02 lakh tonnes of Manganese (Mn) Ore in FY23, MOIL has recorded its second highest production since inception, registering 6% growth over the previous year.
Record Capital expenditure of Rs 245 crore has also been achieved in FY23, which is 14% higher than FY22. With utmost thrust on exploration, MOIL has carried out best ever exploratory core drilling of 41,762 metres in FY23, which is 2.7 times of the average exploration achieved in the last 5 years. The same will not only form the basis of enhanced production from its existing mines but will also be the foundation of opening new Manganese mines in the country.
MOIL is the largest iron ore company in India and fifth largest in world. It currently operates seven underground mines (Kandri, Munsar, Beldongri, Gumgaon, Chikla, Balaghat and Ukwa mines) and three opencast mines (Dongri Buzurg, Sitapatore/Sukli, and Tirodi).
