MOIL jumps on registering 53% growth in manganese ore production in August
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MOIL is currently trading at Rs. 247.50, up by 4.80 points or 1.98% from its previous closing of Rs. 242.70 on the BSE.
The scrip opened at Rs. 247.70 and has touched a high and low of Rs. 250.00 and Rs. 245.20 respectively. So far 124977 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 250.00 on 04-Sep-2023 and a 52 week low of Rs. 140.65 on 29-Mar-2023.
Last one week high and low of the scrip stood at Rs. 250.00 and Rs. 215.55 respectively. The current market cap of the company is Rs. 5016.93 crore.
The promoters holding in the company stood at 64.68%, while Institutions and Non-Institutions held 18.49% and 16.83% respectively.
MOIL has produced 1.23 lakh tonnes of manganese ore in August 2023, delivering best August production since inception, registering a remarkable growth of 53% Year-on- Year (y-o-y). Cumulative production for the financial year up to August 2023 has been 6.79 lakh tonnes, which is 44% higher than y-o-y. On the sales front too, performance has been spectacular with sales of 1.11 lakh tonnes for the month, which is more than double than August, 2022. For April-August, 2023 period, cumulative growth of 53% has been achieved.
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).
