Daily News & Analysis reported that MOIL (BSE:533286) is broadening its portfolio at the expense of its core manganese operations.
As quoted in the market news:
Analysts…aren’t convinced the company can or should undertake these diverse operations at a time when its core business is eroding, leading to a decline in sales and profits. Last fiscal, the company clocked sales of `905 crore and a net profit of `410 crore compared with `973 crore and `480 crore in 2007-08, respectively.
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