MOIL gained 2.69% to Rs 146.95 after the company hiked prices of manganese ore and other products with effect from 1 January 2021.
MOIL said prices of all Ferro grades of manganese ore having Manganese Mn-37% and above have been increased by 10% and all the other Ferro grades of Manganese Ore having Manganese below Mn-37% have been increased by 15%.
MOIL further added that prices of all SMGR grades (Mn-30% & Mn-25%) and all grades of Fines have been increased by 15%. The company hiked prices of all grades of chemical grades of manganese ore by 10%. The state run miner said that price of Electrolytic Manganese Di-oxide (EMD) were kept unchanged.
MOIL is engaged in the exploration, exploitation and marketing of manganese ore and products, such as electrolytic manganese dioxide and high carbon ferro manganese alloy. The company operates through three segments: mining, manufacturing and power generation. The Government of India holds 64.35% stake in MOIL as on 30 September 2020.
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