Foreign institutional investors (FIIs) have raised their stake in MOIL by 31 basis points to 7.13 percent in Q2FY15 from 6.82 percent as on June 30, 2014. Moreover, domestic institutional investors’ (DIIs) shareholding increased by 2 basis points to 2.59 percent at the end of September 2014 quarter from 2.57 percent as on June 30, 2014.
Meanwhile, non institutions were holding 10.28 percent stake in the company at the end of September 2014 quarter, down 33 basis points from 10.61 percent as on June 30, 2014, while corporate bodies were holding 1.93 percent stake in the company at the end of September 2014 quarter, up 6 basis points from 1.87 percent as on June 30, 2014. Further, promoters’ shareholding in the company was unchanged at 80 percent at the end of September 2014.
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.
| Company Name | CMP |
|---|---|
| Coal India | 438.70 |
| NMDC | 89.78 |
| GMDC | 733.40 |
| Sandur Manganese | 218.35 |
| MOIL | 327.60 |
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