MARKET RESPONDS 

MOIL SHARES SURGE 13% IN TRADE TODAY

Published By MintGenie Team | 04 Mar, 2024
MOIL's stock rose by 13% to 313.40 apiece in early trade after reporting its February production update.
Credit : PIXABAY
The company achieved a record February production of 1.51 lakh tonnes of manganese ore, a 15% YoY increase.
Credit : UNSPLASH
Cumulative production from April to February 2024 reached 15.84 lakh tonnes, showing a 37% YoY growth.
Credit : UNSPLASH
February 2024 sales rose by 18% compared to the same month in 2023, totaling 1.56 lakh tonnes.
Credit : UNSPLASH
For FY24 up to February, MOIL achieved sales of 13.91 lakh tonnes, indicating a robust 32% YoY growth.
Credit : UNSPLASH
The company holds a significant 46% market share in India for manganese ore and has extensive reserves.
Credit : UNSPLASH
MOIL conducted core drilling of 78,922 meters as of February 2024, doubling figures from the previous fiscal year.
Credit : UNSPLASH
The company strategically increased investments domestically and internationally to capitalize on emerging opportunities.
Credit : UNSPLASH
MOIL achieved a production of 12.73 lakh MT of manganese ore in 9MFY24, with sales of 11.01 lakh MT.
Credit : UNSPLASH
Revenue from operations during the nine months of FY24 was 1,033.55 crore, a 13% increase YoY, with a PAT of 203 crore.
Credit : UNSPLASH