Shares of MOIL rallied over 5 per cent on the Bombay stock Exchange after state-run mining company’s net profit more than doubled to Rs 97.73 crore for the quarter ended June 2017, and its board recommended bonus share in the ratio of 1:1. Driven by Q1, shares of the company gained as much as 5.51 per cent to hit intra-day high of Rs 347.00 apiece on the Bombay Stock Exchange.
The stocks were currently trading at Rs 343.65 against previous close price of Rs 328.85. In a similar fashion, shares of the company were trading 4.79 per cent higher at Rs 343.35 apiece on the National Stock Exchange. Meanwhile, the broader benchmark BSE Sensex was trading at 31,317.47, down 213.86 points, or 0.68 per cent, at 12:58 hours.