MOIL's November Production up by 35% y-o-y

Continuing with its steller performance, MOIL achieved Manganese (Mn) ore production of 1.62 lakh MT in November, 2023, which is 35% higher y-o-y. In the current FY also, the company has registered a remarkable growth of 43% y-o-y, with production of 10.9 lakh tonnes of Manganese ore in Apr-Nov, 23.

On the sales front too, the company continued to scale impressive growth, which was 18% and 52% during November, 2023 and Apr-Nov, 23 respectively.

In the recent past, the company has been giving utmost thrust to exploration. In November, 2023 alone, MOIL accomplished core drilling spanning 7551 meters, marking a tvw-fold increase compared to November, 2022. During Apr-Nov, 23 period, MOIL has effectively carried out core drilling of 49,389 meters, showcasing a 2.5-fold rise over CPLY.

Shri Ajit Kumar Saxena, CMD, extended another round of congratulations to team MOIL for their consistent stellar performance. He expressed unwavering confidence that the elevated levels of performance will be sustained.

Shares of MOIL Limited was last trading in BSE at Rs. 312.80 as compared to the previous close of Rs. 317.05. The total number of shares traded during the day was 220567 in over 3713 trades.

The stock hit an intraday high of Rs. 329.80 and intraday low of 310.35. The net turnover during the day was Rs. 70818630.00.

Source : Equity Bulls

Keywords

MOIL INE490G01020 Mining ManganeseOre Production