iifl-logo-icon 1

Invest wise with Expert advice

By continuing, I accept the T&C and agree to receive communication on Whatsapp

  • Open Demat with exclusive Advice & Services
  • Get a dedicated Relationship Manager to help you grow your wealth
  • Exclusive advisory on 20+ trading & wealth-based investment options
  • One tap Investments, Automated trading & much more
  • Minimum 1 lakh margin required
sidebar image

MOIL Stock Surges as Manganese Ore Output Climbs 15%

20 Mar 2024 , 11:58 PM

With a 15% year-over-year increase in February's manganese ore production to 1.51 Lakh tonnes, the state-run company's shares of MOIL, a key producer of the mineral, are up about 15% on the positive day. The share was trading 8.35% higher at ₹304.45 a share on the NSE at 11:03 am. The stock has increased by almost 95% in the past year, but it has down 3% so far this year.

According to a regulatory filing from MOIL, the company's production increased 37% year over year to 15.84 Lakh tonnes in April to February 2024, exceeding the best-ever production of any financial year since its founding.

The massive state-owned manganese mining company has sold 1.56 Lakh tonnes, which is 18% more than it did in February 2023. According to the statement, sales of 13.91 Lakh tonnes were reached for the year (through February 2024), representing a 32% annual growth.

The MOIL completed 78,922 metres of core drilling in the current fiscal year through February 2024, more than double its annual output, the business reported.

Ajit Kumar Saxena, the Chairman and Managing Director (CMD), commended the MOIL team for their coordinated efforts, which led to this historic success. The company stated in a release that 'he reposed full faith that this growth momentum will be continued during the next financial year.'

MOIL is India's biggest manganese ore producer, holding a 50% market share. With 11 mines located in neighbouring areas of Maharashtra and Madhya Pradesh, the firm has its headquarters in Nagpur. Manganese metals and alloys are made from different grades of ore, while refined manganese dioxide is frequently added to fertilisers and livestock feed.

For feedback and suggestions, write to us at editorial@iifl.com

Moil Share Price Today Live - Moil Stock Price NSE/BSE

Related Tags

  • Manganese
  • MOIL
sidebar mobile


Read More
Knowledge Centerplus

Logo IIFL Customer Care Number
1860-267-3000 / 7039-050-000

Logo IIFL Securities Support WhatsApp Number
+91 9892691696

Download The App Now

Knowledge Centerplus

Follow us on


2024, IIFL Securities Ltd. All Rights Reserved

  • Prevent Unauthorized Transactions in your demat / trading account Update your Mobile Number/ email Id with your stock broker / Depository Participant. Receive information of your transactions directly from Exchanges on your mobile / email at the end of day and alerts on your registered mobile for all debits and other important transactions in your demat account directly from NSDL/ CDSL on the same day." - Issued in the interest of investors.
  • KYC is one time exercise while dealing in securities markets - once KYC is done through a SEBI registered intermediary (broker, DP, Mutual Fund etc.), you need not undergo the same process again when you approach another intermediary.
  • No need to issue cheques by investors while subscribing to IPO. Just write the bank account number and sign in the application form to authorise your bank to make payment in case of allotment. No worries for refund as the money remains in investor's account."

www.indiainfoline.com is part of the IIFL Group, a leading financial services player and a diversified NBFC. The site provides comprehensive and real time information on Indian corporates, sectors, financial markets and economy. On the site we feature industry and political leaders, entrepreneurs, and trend setters. The research, personal finance and market tutorial sections are widely followed by students, academia, corporates and investors among others.

  • 9 out of 10 individual traders in equity Futures and Options Segment, incurred net losses.
  • On an average, loss makers registered net trading loss close to Rs. 50,000.
  • Over and above the net trading losses incurred, loss makers expended an additional 28% of net trading losses as transaction costs.
  • Those making net trading profits, incurred between 15% to 50% of such profits as transaction cost.
Copyright © IIFL Securities Ltd. All rights Reserved.

Stock Broker SEBI Regn. No: INZ000164132, PMS SEBI Regn. No: INP000002213,IA SEBI Regn. No: INA000000623, SEBI RA Regn. No: INH000000248

We are ISO 27001:2013 Certified.

This Certificate Demonstrates That IIFL As An Organization Has Defined And Put In Place Best-Practice Information Security Processes.


Get better recommendations & make better investments

Invest wise with Expert advice

By continuing, I accept the T&C and agree to receive communication on Whatsapp