MOIL shines on reporting 15% growth in sales in April-June 2024
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MOIL is currently trading at Rs. 522.10, up by 30.80 points or 6.27% from its previous closing of Rs. 491.30 on the BSE.
The scrip opened at Rs. 505.00 and has touched a high and low of Rs. 535.00 and Rs. 505.00 respectively. So far 325911 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 565.80 on 24-Jun-2024 and a 52 week low of Rs. 163.80 on 04-Jul-2023.
Last one week high and low of the scrip stood at Rs. 535.00 and Rs. 473.00 respectively. The current market cap of the company is Rs. 10552.74 crore.
The promoters holding in the company stood at 64.68%, while Institutions and Non-Institutions held 14.71% and 20.61% respectively.
MOIL has scaled new heights in sales in April-June, 2024 by achieving its best ever quarterly sales, with a remarkable growth of 14.5% year-on-year (Y-o-Y). The entire organization aligned together to meet this enhanced market demand and the impact could be seen in record revenue also.
This performance was backed by record quarterly production, going up to a level of 4.70 lakh tonnes during April-June, 2024, registering a growth of 7.8% y-o-y. MOIL has also continued its focus on exploration activities and carried out exploratory core drilling of 30,028 meters in April-June 2024, which is higher by 49% y-o-y.
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).
