MOIL slips after weak Q1 results

MOIL fell 0.48% to Rs 258.60 at 10:20 IST on BSE after net profit declined 47.54% to Rs 47.15 crore on 0.42% rise in net sales to Rs 183.53 crore in Q1 June 2016 over Q1 June 2015.

The result was announced after market hours yesterday, 29 August 2016.

Meanwhile, the BSE Sensex was up 204.34 points, or 0.73%, to 28,107.

On BSE, so far 14,000 shares were traded in the counter, compared with average daily volume of 17,381 shares in the past one quarter. Trading was volatile in the counter. The stock rose 0.83% at the day's high of Rs 262 so far during the day. The stock fell 3.50% at the day's low of Rs 250.75 so far during the day. The stock hit a 52-week high of Rs 274.30 on 25 August 2016. The stock hit a record low of Rs 180.10 on 12 February 2016. The stock had outperformed the market over the past 30 days till 29 August 2016, rising 6.45% compared with 0.53% slide in the Sensex. The scrip had also outperformed the market in past one quarter, rising 14.83% as against Sensex's 4.63% rise.

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

MOIL produces and sells different grades of manganese ore. Government of India currently holds 71.57% stake in MOIL (as per the shareholding pattern as on 30 June 2016).

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