MOIL shares plunges despite having best May production

Shares of MOIL Ltd, a public sector undertaking recognised as Miniratna category, were disappointed in Tuesday's trading session with a closing fall of 1.87 pc at Rs 361.50.

This came despite the company witnessing a strong performance growth for FY '26 and the company has begun the year with its highest-ever May performance, reflecting strong operational momentum.

The company recorded 1.71 lakh tonnes of manganese ore production in May 2025, registering an impressive 18% growth over the corresponding period last year (CPLY).

This marks the highest-ever production for the month of May and the fourth-highest monthly production since inception.

Additionally, exploratory core drilling touched 13,352 meters, reflecting a 17.5% increase over CPLY —reaffirming MOIL’s strategic push in expanding resource potential.

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Shri Ajit Kumar Saxena, CMD MOIL, congratulated all employees for this achievement, stating, “Our mines are the backbone of MOIL’s success. With this performance, we have shown that disciplined operations and efficient practices can consistently break barriers.”

However, the stock has recovered by 9.23 percent in the last one month.