MOIL

State-owned MOIL has registered a 6 per cent rise in its manganese ore production to 13.02 lakh tonnes (LT) in 2022-23. The company also utilised 14 per cent higher capital expenditure in the financial year that ended March 31 over 2021-22, the Ministry of Steel said in a statement. MOIL Ltd recorded its second-highest production since inception, registering a 6 per cent growth to 13.02 lakh tonnes in FY23 over the previous year. During FY23, MOIL carried out its best-ever exploratory core drilling of 41,762 metres which is 2.7 times of the average exploration achieved in the last 5 years. MOIL, under the Ministry of Steel, is the largest producer of manganese ore in the country, contributing 45 per cent of the domestic production. It operates 11 mines in Maharashtra and Madhya Pradesh.

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State-owned miner MOIL produced 1.2 lakh tonne of manganese ore last month, registering a growth of 60 per cent over October. The state-owned firm is braced for much better performance in the remaining period of the ongoing fiscal year, the steel ministry said in a statement. "On the sales front, MOIL has recorded a growth of 82 per cent during the period over the previous month, in spite of challenging market conditions," it said. MOIL, under the steel ministry, is the largest producer of manganese ore in the country and operates 11 mines in Maharashtra and Madhya Pradesh. The PSU holds about 34 per cent of the manganese ore reserves of the country. The company has an ambitious vision of almost doubling its production to 3 million tonne by 2030. MOIL is also exploring business opportunities in Gujarat, Rajasthan and Odisha besides other areas in Madhya Pradesh.

Among the most buzzing stocks, Spicejet surged 18 per cent. MOIL soared close to 9 per cent, while eClerx Services, Brigade Enterprises and Rossari Biotech were trading with 5-6 per cent gains

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Its total sales increased by 6 per cent to 12.12 LT, from 11.43 LT in 2020-21

Traders are advised to buy MOIL and Shriram Transport Finance on dips near 178 and 1200, respectively.

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Union Minister of Steel Ram Chandra Prasad Singh on Sunday announced a bonus of Rs 28,000 as well as wage revision for the employees of the state-owned Manganese Ore India Limited (MOIL). Singh was addressing a gathering at the inauguration 2nd Vertical Shaft, Chikla Mine and various other facilities of the company based at Nagpur in Maharashtra. He announced a production-linked bonus of Rs 28,000 for all the MOIL employees, which will be paid before the upcoming Diwali festival. The wage revision is for 10 years, with effect from August 1, 2018 to July 31, 2027, and will benefit around 5,800 employees of the company, it said in a release. It is based on an MoU arrived between the company's management and the MOIL Kamgar Sanghatan, a recognised union of its employees. The proposal includes fitment benefit of 20 per cent and perks /allowances at the rate of 20 per cent, the release said. An interim relief at 12 per cent of the basic and dearness allowance (DA) was given by the co

State-owned MOIL on Thursday posted a net profit of Rs 1.88 crore for the quarter ended June

Increases prices of Ferro grade manganese ore has been increased by 3%

The stock soared 15% to Rs 284 on the BSE in early morning deal, trading close to its record high of Rs 296 touched on December 15, 2010 in intra-day trade.

The stock rallied 5% to Rs 200 on BSE after the company said it hiked prices of various grades of manganese ore with effect from October 1, 2017.

The stock was up 5% at Rs 346 on BSE in otherwise weak market

The government is offering an additional discount of 5% to the allotment price

The stock was down 4% to Rs 367 on the BSE in early morning trade.

The floor price is at a discount of 4.63% over the closing price of MOIL at Rs 382.70 on the BSE

The hit a fresh 52-week high of Rs 384, soared 50% in past one-month from Rs 255 on October 3.

The offer is for fully paid-up shares of the company at a price of Rs 248 a share payable in cash