Moil India stock jumps after yearly surge in miniratnas manganese ore production
MOIL achieved manganese ore production of 1.62 lakh MT in November, 2023, which is 35 per cent higher year-on-year. In the current FY also, the company has registered a growth of 43% Y-o-Y, with production of 10.9 lakh tonnes of manganese ore in April-November, 2023.
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.
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