You are here: Home » News-CM » Equities » Hot Pursuit
Business Standard

MOIL announces reduction in manganese ore prices

Capital Market 

MOIL reduced the prices of manganese ore with effect from Wednesday, 1 December 2021.

Shares of MOIL rose 0.15% to close at Rs 169 on BSE yesterday, 30 November 2021.

The prices for the month of December 2021 for all chemical grades of manganese ore have been reduced by 5% on the prices prevailing since 1 November 2021 w.e.f. midnight of 30 November 2021/ 1 December 2021.

However, the prices for the month of December 2021 for all ferro grades, SMGR grades (Mn-30% & Mn-25%) and fines have been continued as prevailing since 1 November 2021 w.e.f. midnight of 30 November 2021/ 1 December 2021.

MOIL's net profit surged to Rs 60.24 crore in Q2 FY22 from Rs 7.33 crore in Q2 FY21. Net sales during the quarter rose 1.5% Y-o-Y (year-on-year) to Rs 311.73 crore.

MOIL, a Schedule 'A' Miniratna category-I company, produces and sells different grades of manganese ore. It operates eleven mines, seven located in the Nagpur and Bhandara districts of Maharashtra and four in the Balaghat district of Madhya Pradesh.

While the Government of India held 64.35% stake in the company, Life Insurance Corporation (LIC) of India held 7.90% stake and the remaining 27.75% stake was held by public shareholders as on 30 September 2021.

Powered by Capital Market - Live News

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

Dear Reader,


Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Wed, December 01 2021. 08:59 IST
RECOMMENDED FOR YOU
RECOMMENDED FOR YOU