MOIL rose 2.63% to Rs 245.45 at 9:42 IST on BSE after the company said that the meeting of its board of directors will be held on 5 February 2018, to consider the proposal for buy back of company's shares.
The announcement was made after market hours yesterday, 29 January 2018.Meanwhile, the S&P BSE Sensex was down 147.24 points, or 0.41% to 36,136.01. The S&P BSE Mid-Cap index was down 117.99 points or 0.67% to 17,592.31, underperforming the Sensex.
On the BSE, 40,000 shares were traded in the counter so far, compared with average daily volumes of 60,000 shares in the past one quarter. The stock had hit a high of Rs 249 and a low of Rs 243.75 so far during the day. The stock had hit a 52-week high of Rs 285.50 on 24 October 2017. The stock had hit a 52-week low of Rs 147.50 on 25 May 2017.
MOIL's net profit surged 123.51% to Rs 92.69 crore on 46.3% increase in net sales to Rs 286.71 crore in Q2 September 2017 over Q2 September 2016.
MOIL produces and sells different grades of manganese ore. The promoters hold 65.58% stake in the company as per the shareholding pattern as on 30 December 2017.
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