Manganese Ore India Ltd (MOIL) has signed a MoU with the Ministry of Steel for FY2018-19.
The MoU includes targets for achievements of various parameters which involve Manganese ore production targets of 12.50 lakh tonnes and capital expenditure amount of Rs 205.80 crore for FY 2017-18, for excellent grading.
Meanwhile, the stock on Friday’s trade ended in the negative territory slipping 0.36% at Rs 318.80 per share on BSE. The stock attracted a total traded quantity of 0.14 lakh on BSE.
MOIL Limited is engaged in the exploration, exploitation and marketing of manganese ore and products, such as electrolytic manganese dioxide and high carbon Ferro manganese alloy. The company operates through three segments: mining, manufacturing and power generation.
MOIL has recently signed an MoU with the Ministry of Steel for FY2017-18. The MoU includes targets for achievement of various performance parameters which includes Manganese ore production targets of 12.50 lakh tonnes and capex amount of ₹205.80 crore for excellent grading. The company has been signing the MoU with the Ministry for more than 20 years, it said. The stock of MOIL closed flat at ₹319.90 on the NSE.