MOIL trades higher on registering 26% growth in Manganese Ore production in April

MOIL Ltd. | Mining & Minerals | Metals & Mining | BSE: 533286 | NSE: MOIL

03 May 2023 Evaluate

MOIL is currently trading at Rs. 159.25, up by 0.85 points or 0.54% from its previous closing of Rs. 158.40 on the BSE.

The scrip opened at Rs. 157.95 and has touched a high and low of Rs. 159.40 and Rs. 157.35 respectively. So far 7551 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 179.55 on 05-May-2022 and a 52 week low of Rs. 137.30 on 20-Jun-2022.

Last one week high and low of the scrip stood at Rs. 162.50 and Rs. 155.30 respectively. The current market cap of the company is Rs. 3238.47 crore.

The promoters holding in the company stood at 64.68%, while Institutions and Non-Institutions held 18.03% and 17.28% respectively.

With a production of 1.31 lakh tonnes of Manganese Ore in April, 2023, MOIL has registered best April production performance since inception, with a significant growth of 26% over April, 2022. Breaking a multi-year record, sales at 97,838 tonnes for the month has also been best for any April month and 72% higher than April, 2022.

Giving utmost thrust to exploration, MOIL achieved core drilling of 7,530 metres in April 2023, which is 3.6 times that of April, 2022. The company has made an ambitious plan of carrying out exploration in brown-field and green-field areas during FY2024.

Production of Electrolytic Manganese Dioxide (EMD) has also been best for any April month, higher by 6% than April, 2022. EMD is a 100% import substitution product, used mostly for pharmaceuticals and manufacturing of batteries.

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).

MOIL Share Price

280.95 -2.90 (-1.02%)

24-Jun-2026 10:51 View Price Chart

Peers

Company Name	CMP
Coal India	444.75
NMDC	85.11
GMDC	597.55
Sandur Manganese	206.30
MOIL	280.95
View more..

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