State-run MOIL shares rallied over 9 per cent on Monday after it hiked prices of various grades of manganese ore by up to 50 per cent for April-June quarter.
At 11.55 am, shares of the company were trading 6.87 per cent up at Rs 232.65. The scrip opened at Rs 228.05 and has touched a high and low of Rs 237.60 and Rs 228.05, respectively in trade so far. Later, the scrip settled the day 14.06 per cent up at Rs 248.30
In a filing to BSE, country’s largest manganese producer said it has increased the prices of all ferro grades of ore by 50 per cent over previous quarter (January-March) prices.
The company said the prices of all grades of fines are increased by 10 per cent.
The company revises prices of manganese ore on a quarterly basis.
Prices of chemical grades ore have been increased by 35 per cent. There is no change in the existing price of Electrolytic Manganese Dioxide (EMD), Moil said.