In the April-December period, MOIL recorded production of 13.3 million tonnes, which is roughly 4.5% greater than within the previous 12 months. Sales amounted to 11.39 million tons and were higher by 3.5% in comparison with CPLY.
It recorded exploratory core drilling to a depth of 72,340 meters, up 19% year-on-year.
“With the above record results, MOIL is expected to exceed its best-ever third-quarter revenue,” the corporate’s filing reads.
Commenting on the corporate’s performance prior to now quarter, Chairman and Managing Director Ajit Kumar Saxena expressed satisfaction while expressing confidence that the corporate will maintain its growth momentum in the long run.
The updates were announced after market hours and MOIL’s share price ended at Rs 338 on the NSE today, down Rs 8 or 2.31% from Wednesday’s closing price. MOIL has been a latecomer to the market, delivering only a 7% return during the last 12 months. It has underperformed Nifty which has returned 12% over the identical period. While the corporate’s stock is currently trading above its 50-day easy moving average (SMA) of Rs 331, it’s down from its 200-day SMA of Rs 401, in response to them. Trendlyne data.
During this era, the stock was also highly volatile, with an annual beta of 1.6.
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