MOIL Diversification Could Hurt Core Business

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.

Click here to read the full Daily News & Analysis report.