MOIL shares up 6% amid updating best-ever Q3 performance of Oct to Dec 2024

MOIL shares experienced a 6.2 percent increase in Friday's trading on the BSE, reaching an intraday high of Rs 359.35 per share. This rise followed the company's announcement of its best-ever Q3 performance from October to December 2024. As a result, the MOIL share price rose by 3.45 percent, reaching Rs 359.35 per share.

In contrast, the BSE Sensex fell by 0.63 percent, settling at 79,439.78. The company's market capitalization was reported at Rs 7,116.90 crore. The stock's 52-week high is Rs 588.35 per share, while the 52-week low stands at Rs 259.5 per share.

As per the Q3 update, MOIL announced that it achieved the best-ever Q3 production of manganese ore of 4.6 lakh tonnes with Q3 sales of 3.88 lakh tonnes, higher by 13 percent over the corresponding period of last year.

Additionally, during the April-December, 2024 period, MOIL registered production of 13.3 lakh tonnes, higher by about 4.5 percent over the previous year. Its sales rose 3.5 percent year-on-year (Y-o-Y) to 11.39 lakh tonnes.

Join PSU Connect on WhatsApp now for quick updates! Click here

Read Also : Top Officials chairs Airport Development Review Meeting

Besides, its exploratory core drilling was higher by 19 percent Y-o-Y to 72,340 meters. "With the above record-breaking performance, MOIL is expected to surpass the best Q3 revenue," the filing read. During the first eight months of FY2025, MOIL recorded production of 11.80 lakh tonnes, higher by 8.46 percent over the corresponding period last year.

Meanwhile, during the first eight months of FY25, the company registered sales of 9.90 lakh tonnes, which is higher by 4.76 percent Y-o-Y and it surpassed a turnover of Rs 1,000 crore within 8 months of FY2025. In the past year, MOIL shares have gained 7 percent against Sensex's rise of 12 percent.

Read Also : PM to inaugurate multiple development projects worth over Rs. 12,200 crore tomorrow