MOIL edges higher despite reporting 2.44% fall in April-November output

30 Dec 2013 Evaluate

MOIL is currently trading at Rs. 242.50, up by 0.55 points or 0.23 % from its previous closing of Rs. 241.95 on the BSE.

The scrip opened at Rs. 241.70 and has touched a high and low of Rs. 243.00 and Rs. 240.60 respectively. So far 1387 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 274.90 on 10-Jan-2013 and a 52 week low of Rs. 182.35 on 07-Aug-2013.

Last one week high and low of the scrip stood at Rs. 246.70 and Rs. 237.00 respectively. The current market cap of the company is Rs. 4082.40 crore.

The promoters holding in the company stood at 80.00 % while Institutions and Non-Institutions held 9.42 % and 10.58 % respectively

State-run manganese ore producer MOIL has reported 2.44% fall in its output of first eight months of the current fiscal, 2013-14 to 6.7 lakh tonnes as compared to 6.87 lakh tonnes manganese ore during April- November period of the 2012-13 fiscal.

The company’s production is mainly hit by early monsoon and the decline in output has caused inundation in opencast workings as well as heavy seepage of water in underground workings severely hampering the normal mining operations

Meanwhile, the company’s sales fell by 7.34% during the period to 6.62 lakh tonnes as compared to 7.14 lakh tonnes a year ago. The sale of ferro manganese during the April-November period went up to 6,960 tonnes as compared to 6,121 tonnes in the year-ago period, reflecting an increase of 13.71%.

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). The company is actively involved in exploration and development activities with a view to increase its proven manganese ore reserves.

MOIL Share Price

295.25 7.10 (2.46%)
22-Nov-2024 16:59 View Price Chart
Peers
Company Name CMP
Coal India 413.95
NMDC 220.70
GMDC 328.50
MOIL 295.25
Sandur Manganese 424.85
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