MOIL, the largest producer of manganese ore in India, achieved a production increase of 26% and sales that broke a multi-year record. The company is strategically increasing investments to meet growing demand in the manganese ore industry.
Following the strong Q3 numbers, the stock opened higher at ₹61.50 apiece during Monday intraday trade compared to the previous closing price of ₹59.35 and it continued to rise to hit an intraday high of ₹61.85. In Q3FY23, the bank reported a net profit of ₹605 crore.