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Moil surges on getting approval for mining lease for manganese ore

02 Dec 2014 Evaluate

MOIL is currently trading at Rs. 316.60, up by 7.15 points or 2.31% from its previous closing of Rs. 309.45 on the BSE.

The scrip opened at Rs. 313.95 and has touched a high and low of Rs. 324.05 and Rs. 307.00 respectively. So far 56749 shares were traded on the counter.

The BSE group 'B ' stock of face value Rs. 10 has touched a 52 week high of Rs. 341.00 on 26-May-2014 and a 52 week low of Rs. 210.50 on 10-Feb-2014.

Last one week high and low of the scrip stood at Rs. 325.00 and Rs. 308.00 respectively. The current market cap of the company is Rs. 5340.72 crore.

The promoters holding in the company stood at 80.00 % while Institutions and Non-Institutions held 9.71 % and 10.29 % respectively.

Government of India, Ministry of Mines has granted approval of Mining lease to MOIL for manganese ore over an area of 48.974 Ha land in Village Lugma, Tehsil Baihar, Balaghat in Madhya Pradesh. The company has received a communication in this regard from Mineral Resource Department of Government of Madhya Pradesh. The said area falls under Ukwa Mine of MOIL. Now, the Company will take necessary steps, as may be required, for execution of the mining lease with the Government of Madhya Pradesh.

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

327.60 1.05 (0.32%)
17-Apr-2026 16:59 View Price Chart
Peers
Company Name CMP
Coal India 438.70
NMDC 89.78
GMDC 733.40
Sandur Manganese 218.35
MOIL 327.60
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