Multibagger Stock: MOIL share price zooms over 50% in April so far, gains 178% in a year

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₹443 per share with a gain of 2.5%. In the last four trading sessions alone, the stock has surged by an impressive 31.30%. Since hitting its lows in March 2024, the stock has seen a remarkable 61% increase in value.

Remarkably, in April so far, the shares have jumped over 50%, which is the highest monthly jump since listing. In the last one year period, it gained 178%. Also Read: Tech Mahindra shares up by 10% after Q4 results.

Should you buy on the rise? This strong performance can be attributed to the rising prices of manganese ore, coupled with its strong sales and production figures. Earlier this month, the company implemented a price revision for various grades of manganese ore and other products, resulting in increases ranging from 3% to 6%, as per the company's exchange filing. It has achieved its highest-ever production volume since its inception, totaling 17.56 lakh tonnes in FY24, marking a significant 35% year-on-year growth.

This surpasses the previous record of 13.64 lakh tonnes set in FY 2007–08 by 29%. Similarly, on the sales front, the company achieved its best-ever sales figures, reaching 15.36 lakh tonnes in FY24, indicating impressive 30% year-on-year growth. This exceeds the previous record of 13.92 lakh tonnes set in FY 2007-08 by 10%.

Also Read: Also Read: Schneider Electric: This multibagger stock turned ₹1 lakh into over ₹4 lakh in just a year Additionally, the company has achieved its highest-ever production of electrolytic manganese dioxide (EMD), totaling 1413 tonnes, reflecting a 28% year-on-year increase. EMD serves as a 100% import substitution product, primarily utilised in pharmaceuticals and battery manufacturing. As the leading manganese ore producer in India, the company commands a