MOIL soars over 6% after miniratna increases manganese ore prices

MOIL Share Price: MOIL's stock soared over six per cent on BSE on Friday (March 1, 2024) after India's largest manganese ore producer increased the prices of certain types of manganese ores.  
The stock of MOIL was trading up by 3.14 per cent, or Rs 8.35, at Rs 274.00 at 13:01 pm on Friday.  

The stock that opened at Rs 271.10 on Friday morning hit the day's high of Rs 281.90, a jump of 6.12 per cent from the previous close of Rs 265.65. 

Manganese ore price hike

MOIL on Thursday increased the prices of some varieties of manganese. 

In a statement, it said-

The prices of all Ferro grades of manganese ore with Manganese content of Mn-44& and above has been continued as prevailing since 01.02.2024 w.e.f. midnight of 29.02.2024/ 01.03.2024 for the month of March 2024.

The prices of all other Ferro grades of manganese ore with Manganese content below Mn-44% have been increased by 5 per cent on the prevailing prices since 01.02.2024 w.e.f. midnight of 29.02.2024/01.03.2024 for the month of March 2024.

The prices of all SMGR (Mn-30% & Mn-25%), Fines and Chemical grades has been continued as prevailing since 01.02.2024 w.e.f. midnight of 29.02.2024/ 01.03.2024
for the month of March 2024.

The basic price of EMD has been continued as prevailing since 01.02.2024 w.e.f. midnight of 29.02.2024/01.03.2024 for the month of March 2024.