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Minerals and mining sector stocks shined on the BSE, as the Indian Bureau of Mines in its latest data has showed that the index of mineral production of the country's mining and quarrying sector rose by 5.9 per cent in January 2024 as compared to the level in January 2023. The cumulative growth for the period April-Jan 2023-24 over the corresponding period of the previous year works out to 8.3 per cent.  

MOIL is currently trading at Rs. 288.00, up by 16.50 points or 6.08% from its previous closing of Rs. 271.50 on the BSE.

Gujarat Mineral Development Corporation is currently trading at Rs. 357.20, up by 13.35 points or 3.88% from its previous closing of Rs. 343.85 on the BSE.

NMDC is currently trading at Rs. 206.25, up by 0.50 points or 0.24% from its previous closing of Rs. 205.75 on the BSE.

The production level of important minerals in January 2024 were: Coal 998 lakh tonne, Lignite 41 lakh tonne, Natural gas (utilised) 3073 million cubic meters, Petroleum (crude) 25 lakh tonne, Bauxite 2426 thousand tonne, Chromite 251 thousand tonne, Copper Concentrate 12.6 thousand tonnes, Gold 134 kg, Iron ore 252 lakh tonne, Lead Concentrate 34 thousand tonnes, Manganese ore 304 thousand tonnes, Zinc concentrate 152 thousand tonne, Limestone 394 lakh tonne, Phosphorite 109 thousand tonne, and Magnesite 13 thousand tonne.   

Important minerals showing positive growth during January 2024 over January 2023 include Magnesite (90.1per cent), Copper Concentrate (34.2 per cent), Coal (10.3 per cent), Limestone (10 per cent), Bauxite (9.8 per cent), Manganese Ore (7.8 per cent), Natural gas (U) (5.5 per cent), Lead Concentrate (5.2 per cent), Iron Ore (4.3 per cent), Lignite (3.6 per cent), Zinc concentrate (1.3 per cent), and Petroleum (crude) (0.7 per cent). Other important minerals showing negative growth include Gold (-23.4 per cent), Chromite (-35.2 per cent) and Phosphorite (-44.4 per cent).