MOIL jumps after board recommends bonus shares

MOIL rose 4.52% to Rs 343.70 at 9:51 IST on BSE after the company said its board recommended 1:1 bonus issue of shares.

The announcement was made after market hours yesterday, 10 August 2017.

Meanwhile, the S&P BSE Sensex was down 292.60 points, or 0.93% to 31,238.73.

On the BSE, 40,000 shares were traded in the counter so far, compared with average daily volumes of 26,975 shares in the past one quarter. The stock had hit a high of Rs 345.95 and a low of Rs 335.45 so far during the day. The stock hit a 52-week high of Rs 429 on 12 January 2017. The stock hit a 52-week low of Rs 239.25 on 29 September 2016.

The stock had outperformed the market over the past one month till 10 August 2017, rising 2.85% compared with 0.86% decline in the Sensex. The scrip had underperformed the market in past one quarter, rising 0.50% as against Sensex's 4.45% rise. The scrip had outperformed the market in past one year, rising 35.52% as against Sensex's 13.18% rise.

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

MOIL after market hours yesterday, 10 August 2017, announced that its net profit surged 107.3% to Rs 97.73 crore on 82.7% increase in net sales to Rs 339.40 crore in Q1 June 2017 over Q1 June 2016.

MOIL produces and sells different grades of manganese ore. It operates 10 mines, six located in the Nagpur and Bhandara districts of Maharashtra and four in the Balaghat district of Madhya Pradesh.

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