Announced Sat, 6 Jun, 2026 · 17:43 IST
MOIL incorporates JV with MPSMCL for manganese ore mining
MOIL · price
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Price reaction · full curve 14 horizons · vs prior close
-1.6%1-day move
₹297.45
prior close
₹291.00
base price
After-mkt
timing
5m10m15m30m1D2D3D4D5D7D15D1M2M3M
+0.6+0.5+1.4+0.9-1.6-4.2-5.0-1.7-0.5-0.3-6.5-9.5-4.7-15.4
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AI summary
MOIL Limited has incorporated a joint venture company called MOIL MPSMCL Mining Limited with Madhya Pradesh State Mining Corporation Limited (MPSMCL). MOIL holds 51 percent and MPSMCL holds 49 percent. The JV will focus on mining of manganese ore in India. Date of incorporation is June 4, 2026. Total subscription is 1,02,000 equity shares at INR 10 each via cash consideration. The JV is approved by DIPAM and Ministry of Steel and will be a subsidiary of MOIL.
Likely market impact
Strengthens MOIL's core manganese mining business through state partnership. Limited near-term financial impact due to small initial capital outlay.