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| 4/5/2012 9:00 PM Thursday

MOIL | BSE Code: 533286 | Volume: 90000 | CMP: Rs 262

MOIL is into the exploration, development, production and sale of manganese ore in India. It operates 10 mines, six
in the Nagpur and Bhandara districts (Maharashtra) and four in Balaghat district (Madhya Pradesh). MOIL is not only the largest miner of manganese ore in the country (and the fifth-largest globally), accounting for 50 per cent of production volumes, but also one of the lowest cost producers of manganese worldwide, as per the company’s claim. It has 22 million tonnes of reserves, with an average mine life of the reserves at around 20 years. The company plans to augment its reserves by three-four million tonnes by FY14. Its reserves have an average manganese grade of 37 per cent, with some mines having manganese content of 40-42 per cent. China’s steel production is expected to grow at around seven-eight per cent over 2012-2014, which will result in a continuous demand for imported manganese ore. Investors can look at the scrip from a medium-term perspective.

Last Seven Days' Volume Table (No. of Shares)
DaysVolume
27-Feb-12 25275
28-Feb-12 36863
29-Mar-12 24175
30-Mar-12 18974
02-Apr-12 13979
03-Apr-12 20725
04-Apr-12 90000

 

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