MOIL gains on hikes in manganese ore prices
The state-owned manganese ore producer has hiked prices by 9% across its product basket for the April-June quarter.
MOIL is trading higher by 3.5% at Rs 239 after the state-owned manganese ore producer has hiked prices by 9% across its product basket for the April-June quarter.
“In line with MOIL's business practice of quarterly revising the prices of manganese ore, the prices of each grade of manganese ore has been increased for the quarter April-June, 2013 by 9% over the prices for Jan-March, 2013,” the company said in a BSE filing.
The stock opened at Rs 237 and touched high of Rs 244 in morning trades on BSE. A combined 55,314 shares have changed hands on the counter so far on BSE and NSE.
“In line with MOIL's business practice of quarterly revising the prices of manganese ore, the prices of each grade of manganese ore has been increased for the quarter April-June, 2013 by 9% over the prices for Jan-March, 2013,” the company said in a BSE filing.
The stock opened at Rs 237 and touched high of Rs 244 in morning trades on BSE. A combined 55,314 shares have changed hands on the counter so far on BSE and NSE.