After Price Hike MOIL Gains


MOIL Limited, a mini-Ratna state-owned manganese ore mining company, is rallying in the bourses with gains as much as 2.5% on the NSE in early hours of trade.

The company on Wednesday had announced that it has increased price of various grades of manganese ore effective from June 1.

MOIL announced that the prices have been increased by 10% on the existing prices prevailing since 1 May 2017 for all Ferro Grades of ore. The prices have been increased by 10% on all grades of SMGR (Mn 30%) and SMGR Low (Mn 25%) on the prevailing prices since 1 May 2017.

The prices have been increased by 10% on all grades of fines and chemical grades ore on the prevailing prices since 1 May 2017. However, prices of Electrolytic Manganese Dioxide (EMD) were kept unchanged.

MOIL announced that the latest price increase is in line with the company's business practice of fixing/revising prices of different grades of manganese ore.

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