Board of MOIL recommends a dividend of Rs 6 per share

 MOIL on Tuesday informed that the board of directors at its meeting held on May 30, 2017, has recommended a final dividend of Rs 6 per equity share of face value of Rs 10 each, for the financial year ended March 31, 2017.
 
The company’s standalone net profit increased by a staggering 441% to Rs 115.80 crore for the quarter ended March 31, 2017. It had posted a standalone net profit of Rs 21.38 crore in the same quarter of the previous year.
 
Meanwhile, MOIL is up by 3.5% at Rs 332.10 per share at 11:38 hours IST on BSE. It touched a high of Rs 340 and a low of Rs 330.95 so far during the day.
 
MOIL Limited is engaged in the exploration, exploitation and marketing of manganese ore and products such as electrolytic manganese dioxide and high carbon ferromanganese alloy. The company operates through three segments: mining, manufacturing and power generation.
 
Stock View:
 
MOIL Ltd is currently trading at Rs 332.25, up by Rs 11.4 or 3.55% from its previous closing of Rs 320.85 on the BSE.
 
The scrip opened at Rs 330.95 and has touched a high and low of Rs 340 and Rs 330.95 respectively. So far 756822(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 4273.33 crore.
 
The BSE group 'B' stock of face value Rs 10 has touched a 52 week high of Rs 429 on 12-Jan-2017 and a 52 week low of Rs 218.8 on 30-May-2016. Last one week high and low of the scrip stood at Rs 323.55 and Rs 295 respectively.
 
The promoters holding in the company stood at 65.58 % while Institutions and Non-Institutions held 19.09 % and 15.34 % respectively.
 
The stock is currently trading above its 200 DMA.