MOIL Ltd jumps nearly 9% after registering record quarterly sales and production

The stock MOIL Ltd jumped by nearly nine per cent on BSE on Wednesday (July 3, 2024) after the miniratna CPSE registered record quarterly sales and production since its inception.

The MOIL Ltd stock that closed trading at Rs 491.30 in the previous session jumped by 8.90 per cent to Wednesday's high of Rs 535.00.

The stock that began trading at Rs 505.00 on Wednesday was trading higher by 6.65 per cent, or Rs 32.65, at Rs 523.95 at 10:11 am on Wednesday.

What is MOIL Ltd's achievement?

MOIL scaled new heights in sales in April-June, 2024, by achieving its best-ever quarterly sales, with growth of 14.5 per cent year-on-year.

It had a record quarterly production, which went up to 4.70 lakh tonnes during April-June, 2024, registering a growth of 7.8 per cent y-o-y.

MOIL carried out exploratory core drilling of 30,028 meters in Apr-June’25, which is higher by 49 per cent y-o-y.

What does MOIL Ltd do?

MOIL Ltd is involved in the production and sale of manganese ore and electrolytic manganese dioxide ( EMD). The company has mines in MP and Maharshatra.