 "MOIL gains on hike in manganese ore prices")
Shares of MOIL has rallied 9% to Rs 238 on the BSE after the company announced that it has increased the prices of various grades of manganese ore by up to 50% for the quarter April - June 2016 compared to the previous quarter (January-March).
“The prices of all ferro grade ores is increased by 50% on the previous quarter prices”, MOIL said in a statement.
The prices of all grades of chemical grade ore is increased by 35% and of all grades of fines is increased by 10%, it added.
The company also increased the prices of all grades of SMGR (Mn 30%) by 20% and of all grades of SMGR Low (Mn 25%) by 15%.
There is no change in existing price of electrolytic manganese dioxide, it added.
At 10:25 AM, the stock was up 7% at Rs 233 on the BSE as compared to 0.29% gain in the S&P BSE Sensex. A combined 201,047 shares changed hands on the counter on the BSE and NSE so far.
“The prices of all ferro grade ores is increased by 50% on the previous quarter prices”, MOIL said in a statement.
The prices of all grades of chemical grade ore is increased by 35% and of all grades of fines is increased by 10%, it added.
The company also increased the prices of all grades of SMGR (Mn 30%) by 20% and of all grades of SMGR Low (Mn 25%) by 15%.
There is no change in existing price of electrolytic manganese dioxide, it added.
At 10:25 AM, the stock was up 7% at Rs 233 on the BSE as compared to 0.29% gain in the S&P BSE Sensex. A combined 201,047 shares changed hands on the counter on the BSE and NSE so far.