HSBC believes that the company is supported by healthy margins from low-cost operations and the valuation at current level looks attractive.
For these targets, the public sector undertaking has inked a pact with the Ministry of Steel, MOIL said in a filing to the BSE.
The company had reported a net profit of Rs 127.78 crore during the same quarter a year ago, MOIL said in a BSE filing.
Kotak Securities is bullish on MOIL has recommended buy rating on the stock with a target price of Rs 200 in its research report dated April 08, 2019.
State-run manganese ore producer MOIL on Friday announced that it has entered into a pact with GMDC to set up a plant in joint venture in Gujarat with an investment of around Rs 250 crore and to conduct joint exploration of manganese-bearing areas.
Total returns from 44 listed non-bank PSU stocks were a mere 3 percent annual growth over the last five years. While the metrics may seem attractive, the returns call for caution.
Kotak Securities is bullish on MOIL has recommended buy rating on the stock with a target price of Rs 260 in its research report dated November 30, 2018.
The state-owned miner had posted a net profit of Rs 92.69 crore in the year-ago period, MOIL said in a regulatory filing.
Negative global cues have weighed on Nifty futures on the Singaporean exchange as well. The SGX Nifty is trading over 70 points lower, hinting at a lower start on Friday morning here and is likely to test 10,300-mark as well.
"Our focus should be on indigenisation and developing technologies and solutions specific to needs of India," he said.
MOIL has reported a sales total income from operations of Rs 313.53 crore and a net profit of Rs 113.44 crore for the quarter ended Jun-2018
The total expenses of the company dropped to Rs 191.38 crore, over Rs 232.87 crore in the year-ago period.
At 6 times FY19 estimated earnings, GMDC remains one of our attractive picks in the mining space
As per the memorandum, MOIL will procure its entire requirement of silica sand, used for backfilling of its mines, from HCL's unit located at Malanjkhand in Balaghat District, an HCL statement said.
Kotak Securities is bullish on MOIL has recommended buy rating on the stock with a target price of Rs 260 in its research report dated April 10, 2018.
Mitessh Thakkar of mitesshthakkar.com recommends buying Ashok Leyland, Panacea Bio and Interglobe Aviation.
The country's largest steelmaker has been posting losses since 2015-16, mainly on account of slowdown in the sector.
NMDC is a great buy even at current levels with a timeframe of over one year, says Sudip Bandopadhyay of Inditrade Capital.
As a part of that exercise we are recommending a change in the portfolio whereby MOIL replaces IRB Infrastructure.
The rally getting bigger highlights inherent strength in the trend amid persistent demand at elevated levels and augurs well for the continuance of the up move going forward.
Dalmia Bharat,Federal Bank, and MOIL are on the radar of Anand Rathi Advisory