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  1. Moil shares hit fresh 52-week high on executing mining lease in Madhya Pradesh

Moil shares hit fresh 52-week high on executing mining lease in Madhya Pradesh

Moil Ltd shared advanced as much as 6.80 per cent on Tuesday and hit their fresh 52-week high of Rs 269.90 after the company announced that it has executed the mining lease

By: | New Delhi | Updated: August 24, 2016 5:17 PM
BSE Sensex, NSE Nifty Moil Moil Ltd shared advanced as much as 6.80 per cent on Tuesday and hit their fresh 52-week high of Rs 269.90 after the company announced that it has executed the mining lease (Photo: Reuters)

Moil Ltd shared advanced as much as 6.80 per cent on Tuesday and hit their fresh 52-week high of Rs 269.90 after the company announced that it has executed the mining lease of over 76.409 hectare land granted by Government of Madhya Pradesh in the village Bharweli-Awalajhari, Tehsil & Balaghat district of Madhya Pradesh. At 3.15 pm, shares of Moil were trading 4.47 per cent up at Rs 264. The scrip opened the day at Rs 253.50 and has touched a high and low of Rs 269.90 and Rs 253.50, respectively, in trade so far. In July, Moil applied for mining lease of over 76.409 hectare land. In this regard, the Government of Madhya Pradesh had given approval for the area.

Later, the scrip closed 5.28 per cent up at Rs 266.05.

In the past one year, shares of the manganese ore producer jumped 15.10 per cent to Rs 252.70 till August 23, whereas BSE Sensex gained by 8.74 per cent during the same period. Shares of the company touched their 52-week high of Rs 269.90 on August 24, 2016 and 52-week low of Rs 180.10 on February 12, 2016.

For the quarter ended March 31, 2016, the company reported a net profit of Rs 21.38 crore, down 79.14 per cent, against Rs 102.47 crore in the corresponding quarter a year ago. Net sales of the company jumped by 29.90 per cent year-on-year to Rs 209.62 crore for the quarter under review against Rs 161.37 crore in the same quarter last fiscal.

Promoters holds 80 per cent stake in the company, while public hold 20 per cent stake in the company.

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