State-run MOIL shares rallied 6% in today’s trading session to a high of Rs 359.35 on the BSE after Friday after the company reported that it achieved its best-ever Q3 and 9 months’ performance in the quarter ended December 31, 2024.
MOIL shares target price
MOIL shares performance history
On Thursday, MOIL shares closed at Rs 338, down 2.23% on the BSE, while the benchmark Sensex rallied 1.83%. The stock has surged 7% in the past 12 months and 98% over the past two years, with the company’s market capitalization now at Rs 6,879 crore.
During April-December period, MOIL registered production of 13.3 lakh tonnes, higher by about 4.5% over the year-ago period. The sales stood at 11.39 lakh tonnes, higher by 3.5% over CPLY.
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It recorded exploratory core drilling of 72,340 meters, which is higher by 19% on a year-on-year (YoY) basis.”With the above record-breaking performance, MOIL is expected to surpass the best-ever Q3 revenue,” the company filing said.Commenting on the company’s performance in the quarter gone by, Chairman & Managing Director Ajit Kumar Saxena expressed satisfaction, while exuding confidence that the company will maintain the growth momentum, going ahead.
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MOIL shares target price
As per Trendlyne data, the average target price of MOIL shares is Rs 393, which indicates an upside potential of 16% from the current market prices. The consensus recommendation from o3 analysts for the stock is a ‘Buy’.
MOIL shares performance history
On Thursday, MOIL shares closed at Rs 338, down 2.23% on the BSE, while the benchmark Sensex rallied 1.83%. The stock has surged 7% in the past 12 months and 98% over the past two years, with the company’s market capitalization now at Rs 6,879 crore.
Though the stock is currently trading above its 50-day simple moving average (SMA) of Rs 331, it is down from its 200-day SMA of Rs 401 according to Trendlyne data.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)