MOIL shares jump 20%, snap 3-session fall; here's the trigger

Shares of MOIL Ltd rebounded sharply in Tuesday's trade, snapping a three-session losing streak. The stock, which had slipped to a one-year low of Rs 242.65 in intraday trade, surged 20 per cent to hit a day's high of Rs 297.80. The rally followed the company's announcement of its future growth outlook.

MOIL said it aims to produce 3.5 million tonnes (MT) of manganese ore (MnO) by 2030, which could help increase its market share from 20 per cent to 32 per cent over the same period.

The state-owned miner also indicated that it will focus on ramping up production capacity and expanding its business operations into other states.

Systematix Institutional Equities has maintained a 'Hold' rating on the stock with a 12-month target price of Rs 392. The brokerage noted that MOIL reported Q3 FY26 revenue of Rs 360 crore (-2 per cent YoY / +3 per cent QoQ), primarily due to lower-than-expected realisations amid subdued demand during the quarter.

EBITDA margin stood at 27 per cent in Q3 FY26, compared to 28.6 per cent in Q2 FY26 and 25.9 per cent in Q3 FY25.

Sales volume for the quarter came in at 0.37 MT, down 3.6 per cent YoY but up 6 per cent sequentially. MnO (non-fines) realisation was Rs 10,256 per tonne (+4 per cent YoY / +6 per cent QoQ), while blended realisation stood at Rs 8,607 per tonne, up 4 per cent YoY but down 1 per cent QoQ.

EBITDA per tonne for Q3 FY26 was Rs 2,601, marking a 6 per cent YoY increase but a 7 per cent QoQ decline.

MOIL, a Miniratna company established in 1962 as Manganese Ore (India) Ltd, is the largest producer of manganese ore in India.