As the company’s response is awaited, investor enthusiasm remains strong. By around 2 pm, over 2 crore shares had changed hands on the NSE, with the total traded value touching Rs 1,320 crore.
Formerly known as Kudremukh Iron Ore Company, KIOCL is a flagship company under the Ministry of Steel and is involved in mining and beneficiation of low-grade iron ore at Kudremukh, Karnataka, India. The mini-ratna company operates a 3.5 MTPA iron-oxide pellet plant and a blast furnace unit to manufacture 2.16 lakh tonnes per annum pig iron at Mangaluru, Karnataka.
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KIOCL has been a multibagger, returning over 230% to investors in the past 3 years. Its one-year returns stand at Rs 67%, a significant outperformance over benchmark indices Nifty and the BSE Sensex which have given 0.3% and 0.2%, respectively in the same period.
The stock is currently trading above its 50-day and 200-day simple moving averages (SMAs) of Rs 406.2 and Rs 322.6, according to Trendlyne data. While the stock has seen a strong rally in the past 12 months, it has come amid high volatility. Its 1-year beta is 1.5, according to Trendlyne.The momentum indicators show the stock in an overbought zone.KIOCL reported a standalone net loss of Rs 38 crore in the June quarter versus a net loss of Rs 51 crore in the year-ago period. The total revenue fell 32% to Rs 108 crore in Q1FY26, versus Rs 158 crore in the year-ago period.
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