MOIL Shares Jump 17% From 52-Week Low on Strong Production Outlook
MOIL shares rebound over 17% from 52-week low as production targets and long-term growth plans boost investor sentiment.
Shares of MOIL Limited recovered sharply on Tuesday, rising over 17 per cent from their 52-week low amid positive outlook on production and expansion plans.
The stock, which hit a 52-week low of ₹264.6 earlier in the session, rebounded to trade 16.6 per cent higher at ₹289.15.
The recovery comes as the company outlined strong production targets and long-term growth strategy. For the fourth quarter, MOIL is aiming to produce 9 lakh tonnes of manganese, nearly double its third-quarter output.
Looking ahead, the company plans to significantly scale up operations. It aims to double its manganese ore production by financial year 2030 compared to levels recorded in financial year 2025.
MOIL is also targeting an increase in its market share from the current 20 per cent to 32 per cent by FY30.
In terms of volume, the company plans to raise manganese ore production to 3.5 million tonnes by FY30, up from 2.35 million tonnes in the current financial year.
The company operates mines across Nagpur and Bhandara districts in Maharashtra, and Balaghat district in Madhya Pradesh. It produces multiple grades of manganese ore.
Market participants said the sharp rebound reflects investor confidence in the company’s expansion roadmap and improved production outlook.