MOIL drops on profit booking

MOIL fell 1.54% to Rs 359.15 at 14:30 IST on BSE, with the stock sliding on profit booking after recent rally.

Meanwhile, the S&P BSE Sensex was down 345.93 points, or 1.09% at 31,449.53. The S&P BSE Mid-Cap index was down 72.25 points, or 0.47% at 15,156.27.

On the BSE, 22,000 shares were traded on the counter so far as against the average daily volumes of 44,000 shares in the past two weeks. The stock had hit a high of Rs 363.90 and a low of Rs 357 so far during the day.

Shares MOIL had rallied 10.91% in the preceding four trading sessions to settle at Rs 364.75 yesterday, 17 August 2017, from its close of Rs 328.85 on 10 August 2017.

 

MOIL's net profit spurted 107.27% to Rs 97.73 crore on 55.71% increase in total income to Rs 381.66 crore in Q1 June 2017 over Q1 June 2016.

State-run MOIL produces and sells different grades of manganese ore.

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