1. MOIL shares rally over 9 per cent on hiking manganese ore prices

MOIL shares rally over 9 per cent on hiking manganese ore prices

MOIL shares rallied after it hiked prices of various grades of manganese ore by up to 50 per cent for April-June quarter.

By: | Updated: April 4, 2016 4:31 PM
MOIL share price MOIL shares rallied after it hiked prices of various grades of manganese ore by up to 50 per cent for April-June quarter. (Photo: PTI)

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.

  1. No Comments.

Go to Top