Moil India stock jumps after yearly surge in miniratna's manganese ore production

Moil India Share Price: Moil India shares got early morning boost on BSE on Tuesday (December 12) in the first trading session after the state-owned manganese ore company announced a 35 per cent surge year-on-year in its manganese ore production. 

The stock of the miniratna were trading higher by 3.13 per cent, or Rs 9.80, at Rs 322.60 each, at 10:13 am on Tuesday.

Moil India shares have been performing well for some time as they hit 52-week highs on December 1 and 4. 

"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 April-November, 2023. 

On the sales front too, the company continued to scale impressive growth, which was 18 per cent and 52 per cent during November, 2023 and April-November 2023, respectively, Moil India said.