04 Sep 2024

Headline: MOIL Records 7% Growth in Manganese Ore Production During April-August

MOIL is currently trading at Rs. 396.75 on the BSE, reflecting an increase of 8.50 points or 2.19% from its previous close of Rs. 388.25. The stock opened at Rs. 388.50 and has reached a peak of Rs. 400.50 with a low of Rs. 388.00. So far, 85,169 shares have been exchanged.

A BSE group 'A' stock with a face value of Rs. 10, MOIL had touched its 52-week high of Rs. 588.35 on July 8, 2024, and a low of Rs. 207.05 on October 9, 2023. Over the past week, the stock's high and low were Rs. 409.15 and Rs. 381.00, respectively. The company's market capitalization currently stands at Rs. 7,900.31 crore.

Promoters hold a 64.68% stake in the company, while institutional investors own 13.48% and non-institutional investors 21.84%.

During the first five months of the financial year (April-August 2024), MOIL produced 7.24 lakh tonnes of manganese ore, marking a 7% growth compared to the same period last year. The company also achieved sales of 5.92 lakh tonnes, maintaining similar levels to the previous year, despite challenging market conditions and fluctuating international prices.

MOIL remains India's largest manganese ore company and ranks fifth globally. It operates seven underground mines, including Kandri, Munsar, and Balaghat, as well as three open-pit mines such as Dongri Buzurg and Tirodi.