Shares of MOIL surged over 6% in trade after the company achieved record August production during the month of August. The company reported a record 17% output growth in August at 1.45 lakh tonne year on year.
The sales also reported a 25% uptick at 1.13 lakh tonne year on year. During the April to August period, the performance of the company has seen growth in various segments.
The cumulative production saw a growth of 9%, rising to 7.92 lakh tonnes. The exploratory drilling activity also gained momentum. This segment recorded an uptick of 8.6% at 50,621 meters year on year as well.
In fiscal 2025, the company's manganese ore production increased by 2.7% year-over-year, reaching a total of 1.8 MMT, and manganese ore sales rose by 3.3% year-over-year to 1.58 MMT. Notably, ferro manganese production grew by 18% year-over-year, resulting in a total production of 12,000 metric tons.
MOIL Share Price
MOIL stock rose as much as 8.44% during the day to Rs 373.9 apiece on the NSE. It was trading 6.28% higher at Rs 366.45 apiece, compared to an 0.09% decline in the benchmark Nifty 50 as of 9:54 a.m.
It had declined 5.87% in the last 12 months and 10.28% on a year-to-date basis. The total traded volume so far in the day stood at 38 times its 30-day average. The relative strength index was at 59.1.
All four of the analysts tracking the company have a 'buy' rating on the stock, according to Bloomberg data. The 12-month analysts' consensus target price on the stock is Rs 415.2, implying a upside of 13.5%.
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