Friday 18 March 2016

Moil soars 5% after MP government grants mining lease

The company said that the state government of Madhya Pradesh has granted mining lease over 48.974 hectare in MP. 

Moil soared 5% to Rs.217.35 on BSE. The company has informed BSE that the Government of Madhya Pradesh has granted Mining lease over 48.974 hectare in village Lugma, Tehsil Paraswada of Balaghat District (Madhya Pradesh) in favour of MOIL Limited. The company said lease has been executed and registered. This area falls under Ukwa Mine of the Company.

The scrip opened at Rs. 209.95 and has touched a high and low of Rs. 221 and Rs. 209.95 respectively. So far 293040(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 3475.08 crore.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 295 on 13-Apr-2015 and a 52 week low of Rs. 180.1 on 12-Feb-2016. Last one week high and low of the scrip stood at Rs. 209.9 and Rs. 197.05 respectively.

The promoters holding in the company stood at 80 % while Institutions and Non-Institutions held 9.81 % and 10.19 % respectively.

The stock is currently trading below its 200 DMA.

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