MOIL slips after poor Q2 results

MOIL lost 2.4% to Rs 230 at 14:44 IST on BSE after net profit fell 16.6% to Rs 90.57 crore on 1.2% decline in net sales to Rs 226.78 crore in Q2 September 2013 over Q2 September 2012.

The Q2 result was announced after market hours on Thursday, 7 November 2013.

Meanwhile, the S&P BSE Sensex was down 135.14 points or 0.65% at 20,687.63.

On BSE, 20,000 shares were traded in the counter as against average daily volume of 12,136 shares in the past one quarter.

The stock hit a high of Rs 233 and a low of Rs 227.10 so far during the day. The stock hit a record low of Rs 182.35 on 7 August 2013. The stock had hit a 52-week high of Rs 274.90 on 10 January 2013.

The stock had outperformed the market over the past one month till 7 November 2013, surging 16.11% compared with the Sensex's 4.66% rise. The scrip had also outperformed the market in past one quarter, advancing 27% as against Sensex's 11.56% rise.

The mid-cap company has equity capital of Rs 168 crore. Face value per share is Rs 10.

MOIL 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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