MOIL fell 1.52% to 155.65 at 10:13 IST on the BSE after the company said it revised prices of different grades of Manganese Ore and other products, effective from 1 June 2019.
The announcement was made on Sunday, 2 June 2019.
Meanwhile, the S&P BSE Sensex was up 184.80 points, or 0.47% to 39,899.
On the BSE, 2098 shares were traded in the counter so far compared with average daily volumes of 22,000 shares in the past two weeks. The stock had hit a high of Rs 157.30 and a low of Rs 155.65 so far during the day. It hit a 52-week high of Rs 201 on 13 June 2018 and a 52-week low of Rs 140.20 on 21 February 2019.
MOIL announced that the prices of ferro grade, SMGR (Mn30% & Mn25%), fines and chemical grades of ore have been decreased by about 7.5% on the existing prices prevailing since 1 April 2019.
MOIL reported a 5.7% rise in the net profit to Rs 135.09 crore on a 9.8% rise in the net sales to Rs 436.59 crore in Q4 March 2019 over Q4 March 2018.
MOIL is the largest producer of manganese ore by volume in India.
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