MOIL gains on registering 7% rise in manganese ore production in April- September
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MOIL is currently trading at Rs. 367.15, up by 5.55 points or 1.53% from its previous closing of Rs. 361.60 on the BSE.
The scrip opened at Rs. 393.30 and has touched a high and low of Rs. 393.30 and Rs. 357.00 respectively. So far 36151 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 588.35 on 08-Jul-2024 and a 52 week low of Rs. 207.05 on 09-Oct-2023.
Last one week high and low of the scrip stood at Rs. 404.20 and Rs. 357.00 respectively. The current market cap of the company is Rs. 7477.06 crore.
The promoters holding in the company stood at 64.68%, while Institutions and Non-Institutions held 13.48% and 21.84% respectively.
With best ever manganese ore production of 1.46 lakh tonnes in September, 2024, MOIL continued its growth momentum. The company has achieved manganese ore production of 8.70 lakh tonne during first six months of the current financial year (April to September 2024), registering a growth of 7% over corresponding period last year.
The company has also achieved Best September sales of 1.59 lakh tonnes in September, 2024. Sales of 7.51 lakh tonnes during April-September 2024, is almost at the same level as that during corresponding period last year, despite challenging market conditions. Giving utmost thrust to exploration, MOIL has carried out exploratory core drilling of 50,222 meters upto September, 2024 which is 1.4 times than the previous 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).
