MOIL gained 4.23% to Rs 163.95 at 10:05 IST on BSE after the company said that it has fixed/revised prices of different grades of manganese ore and other products, effective from 1 October 2018.
The announcement was made after market hours on Monday, 1 October 2018. Stock markets were closed yesterday, 2 October 2018 for local holiday.On the BSE, 31,000 shares were traded in the counter so far, compared with average daily volumes of 40,000 shares in the past two weeks. The stock had hit a high of Rs 167.95 and a low of Rs 158 so far during the day. The stock had hit a 52-week high of Rs 285.50 on 24 October 2017. The stock had hit a 52-week low of Rs 154.10 on 1 October 2018.
MOIL said that in line with the business practice of fixing/revising prices Manganese Ore, the company has fixed/revised prices of different grades of Manganese Ore, effective from 1 October 2018. The prices of Ferro Grade, SMGR (Mn 30% & Mn 25%), Chemical Grade and Fines have been increased by about 10% on the existing prices prevailing since 1 September 2018. A discount of 10% will be offered on the prices effective from 1 October 2018 on specific grades of materials i.e. BGF534, DBL456 & BGL523 for dispatches during October 2018.
The basic price of Electrolytic Manganese Dioxide (EMD), has been increased by Rs 9000 PMT on the existing price prevailing since 1 July 2018. Ferro Manganese/ Ferro Manganese Slag and some identified grades of Manganese Ore will continue to be sold on e-auction basis as well as through Metal Mandi (M3) of MSTC.
MOIL produces and sells different grades of manganese ore.
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