MOIL makes a 10% cut in prices of Ferro grades of manganese ore and Chemical grades; stock skids ~2%

2 May 2022 , 09:35 AM

MOIL Limited informed that in line with the business practice of fixing/revising prices of Manganese Ore and other products, the Company has fixed/revised prices of different grades of Manganese Ore and other products, effective from May 1, 2022.

The prices of all Ferro grades of manganese ore with a Manganese content of Mn-44% and above have been continued as prevailing since April 1, 2022 w.e.f. midnight of April 30, 2022.

The company further stated that the prices of all other Ferro grades of manganese ore and Chemical grades have been decreased by 10% on the prices prevailing since May 1, 2022.

MOIL also made a 5% cut in prices of manganese ore SMGR (Mn-30% & Mn-25%) and Fines effective from May 1, 2022.

At around 9.39 AM, MOIL Limited was trading at Rs174.50 down by Rs3.55 or 1.99% from its previous closing of Rs178.05 on the BSE. The scrip opened at Rs176.80 and has touched intraday high and low of Rs177 and Rs174.05 respectively.