The company had clocked Rs 88.59 crore net profit during the same quarter a year ago, MOIL said in a BSE filing.
Till date, the government has raised less than three percent of its Rs 2.1 lakh crore divestment target for the current fiscal
Emkay Global Financial recommended hold rating on MOIL with a target price of Rs 163 in its research report dated August 24, 2020.
The company's consolidated net profit dropped to Rs 13.47 crore in March quarter against a net profit of Rs 139.63 crore in the same period last year.
Total income during the quarter under review fell to Rs 282.96 crore from Rs 487.47 crore in the year-ago period.
As per official data, miner NMDC has made the highest contribution among steel PSUs at Rs 155 crore.
The prices of all grades of chemical have been increased by around 10 percent.
Total income during the said period fell to Rs 306.32 crore from Rs 402.85 crore in July-September 2018-19.
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.