MOIL advances after reporting strong Q4 results

MOIL rose 4.33% to Rs 334.75 at 10:12 IST on BSE after net profit spurted 441.6% to Rs 115.80 crore on 19.8% increase in net sales to Rs 251.30 crore in Q4 March 2017 over Q4 March 2016.

The result was announced after market hours yesterday, 30 May 2017.

Meanwhile, the S&P BSE Sensex was down 3.79 points, or 0.01% at 31,155.61. The S&P BSE Mid-Cap index was up 110.29 points, or 0.76% at 14,600.05.

High volumes were witnessed on the counter. On the BSE, 85,000 shares were traded on the counter so far as against the average daily volumes of 47,792 shares in the past one quarter. The stock had hit a high of Rs 340 and a low of Rs 330.95 so far during the day.

The stock had hit a 52-week high of Rs 429 on 12 January 2017 and hit a 52-week low of Rs 218.80 on 30 May 2016. The stock had underperformed the market over the past one month till 30 May 2017, advancing 1.79% compared with the Sensex's 4.15% rise. The scrip had also underperformed the market over the past one quarter declining 9.4% as against the Sensex's 8.41% rise.

The mid-cap company has equity capital of Rs 133.19 crore. Face value per share is Rs 10.

MOIL's board recommended a final dividend of Rs 6 per equity share for the year ended March 2017.

MOIL produces and sells different grades of manganese ore. Government of India currently holds 65.58% stake in MOIL (as per the shareholding pattern as on 31 March 2017).

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