Anand Rathi has given Buy recommendation for Moil with a target price of Rs. 240 in its research report issued on Jul 01, 2021
Anand Rathi’s research report on Moil
MOIL being India’s largest manganese ore producer, accounts for about 48% (2019-20) of the country’s production. With about 90 million tonnes of reserves and resources of manganese ore, it is well positioned quantity wise to capitalize on India’s steel demand growth, given its dominant position, medium- to high-grade ore, centrally located mines and strong and expanding customer base.
We continue to remain positive on the company given its long term growth drivers continue to be well in place. We maintain our BUY rating on MOIL with a revised target of Rs.240 per share.