MOIL Shares Jump To Record After Highest-Ever April Production
The stock rose as much as 4.99% during the day to Rs 463.5 apiece on the NSE.
Shares of MOIL Ltd. rose nearly 5% on Friday to an all-time high after the manganese-ore mining company reported highest-ever production in April.
"The company has achieved its best-ever April sales of 1.15 lakh tonnes in April 2024, registering a growth of 17% year-on-year in comparison," it said in an exchange filing.
The stock rose as much as 4.99% during the day to Rs 463.5 apiece on the NSE. It was trading 1.34% higher at Rs 447.35 per share, compared to a 0.20% decline in the benchmark Nifty as of 11:11 a.m.
The share price has risen 44.56% on a year-to-date basis and 187.91% in the last 12 months. The total traded volume so far in the day stood at 0.85 times its 30-day average. The relative strength index was at 76.59, indicating that the stock may be overbought.
Two out of the four analysts tracking the company have a 'buy' rating on the stock, one recommends 'hold' and another suggests 'sell', according to Bloomberg data. The average of 12-month analyst price targets implies a potential downside of 13.9%.
