05-12-2023 02:29 PM | Source: Accord Fintech
MOIL gains on registering 35% growth in manganese ore production in November

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MOIL is currently trading at Rs. 314.35, up by 1.55 points or 0.50% from its previous closing of Rs. 312.80 on the BSE.

The scrip opened at Rs. 319.85 and has touched a high and low of Rs. 327.55 and Rs. 314.35 respectively. So far 98897 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 329.80 on 04-Dec-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. 329.80 and Rs. 289.00 respectively. The current market cap of the company is Rs. 6430.13 crore.

The promoters holding in the company stood at 64.68%, while Institutions and Non-Institutions held 18.45% and 16.87% respectively.

MOIL has reported 35% rise in Manganese (Mn) ore production to 1.62 lakh tonnes in November, 2023 as compared to November 2022. In the current FY also, the company has registered a remarkable growth of 43% year-on-year, with production of 10.9 lakh tonnes of Manganese ore in April-November, 2023. On the sales front too, the company continued to scale impressive growth, which was 18% and 52% during November, 2023 and April-November, 2023 respectively.

In the recent past, the company has been giving utmost thrust to exploration. In November, 2023 alone, MOIL accomplished core drilling spanning 7551 meters, marking a two-fold increase compared to November, 2022. During April-November 2023 period, MOIL has effectively carried out core drilling of 49,389 meters, showcasing a 2.5-fold rise over corresponding period last year.

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).