Shares of MOIL Ltd. jumped nearly 9% on Wednesday after it achieved its "best-ever" quarterly sales in the April–June period of the current financial year, buoyed by record production of manganese ore.
The state-run miner's sales rose 15% year-on-year in the quarter ended June, according to an exchange filing. However, it did not disclose the figure. The company had recorded sales of 3.96 lakh tonnes in the year-ago period.
-
Indian Markets Turning Corner After Two Tough Years, Says Sandeep Tandon -
NDTV Profit Ignite 2026: Experts See Opportunity In Equities, Stay Bullish For Long-Term -
Buy Right, Sit Tight Does Not Work for Individual Stocks, Says Dinshaw Irani -
'Worst Is Behind': Quant MF Sees Market Bottom, Flags 'Extreme Euphoria' In Midcaps -
India's Mutual Fund Industry Could Become A $1 Trillion Opportunity, Say Fund Managers -
'Foreign Investors Are Baraatis': Raamdeo Agrawal's Take On LTCG Tax -
Stay Invested Through Market Cycles: Raamdeo Agrawal at NDTV Profit Ignite -
Ramesh Damani Remains Bullish On India For Next 20-30 Years, Sees Bargains Amid Market Weakness -
CAS Came After A Long Consultation Process: SEBI Chairman Tuhin Kanta Pandey AT NDTV PROFIT IGNITE -
Aim To Cut FPI Onboarding Time From Mth To Five Days: SEBI Chairman Tuhin Kanta Pandey AT NDTV PROFI
This performance was backed by record quarterly production of 4.70 lakh tonnes, a growth of 7.8% YoY, it said.
Also Read | Layoffs Are Rising In Tech, But These Skills Are Helping People Unlock Better Pay
.png)
On the NSE, MOIL's stock rose as much as 8.84% during the day to Rs 534.95 apiece, the highest June 26. It was trading 7.4% higher at Rs 527.90 per share, compared to a 0.6% decline in the benchmark Nifty at 10:58 a.m.
The stock had recovered for the second consecutive day after it had lost 10% in the previous four sessions. The share price has risen 70.84% on a year-to-date basis and 184.59% in the last 12 months. The total traded volume so far in the day stood at 1.80 times its 30-day average. The relative strength index was at 57.76.
Out of four analysts tracking the company, two have a 'buy' rating on the stock and as many suggest 'sell,' according to Bloomberg data. The average of 12-month analyst price targets implies a potential downside of 8.5%.
Essential Business Intelligence, Sharp Market Insights, Practical Personal Finance Advice, Daily Fuel, Gold and Silver Prices and Latest Stories — On NDTV Profit.
