iifl-logo-icon 1
IIFL

Invest wise with Expert advice

By continuing, I accept the T&C and agree to receive communication on Whatsapp

  • Open Demat with exclusive Advice & Services
  • Get a dedicated Relationship Manager to help you grow your wealth
  • Exclusive advisory on 20+ trading & wealth-based investment options
  • One tap Investments, Automated trading & much more
  • Minimum 1 lakh margin required
sidebar image

MOIL Stock Surges 4% on 10% Price Hike for Select Ore Grades

1 Jun 2023 , 11:35 AM

On June 1, the state-owned manganese ore mining company MOIL's stock saw a 4% increase in morning trading. MOIL, which operates under the Ministry of Steel, holds the distinction of being the largest manganese ore mining company in the country. 

This surge in stock price is due to a 10% price increase for a certain ore grades, including BGF452, CHF473, and GMF569.     

  • MOIL has decided to maintain prices for ferro grade, SMGR, fines, chemical grades, and electrolytic manganese dioxide for June.
  • However, MOIL has raised prices for specific ore grades including BGF452, CHF473, and GMF569, which is expected to have a positive impact on the company's margin, according to market participants.
  • In the fiscal year 2022-23, MOIL achieved its second-highest production levels since its inception.
  • Sales of manganese ore amounted to 11.78 lakh tonnes, slightly lower than the previous fiscal year due to market conditions.
  • Despite this, the sales turnover of electrolytic manganese dioxide (EMD) in FY23 experienced remarkable growth, surpassing 100% compared to the previous year.
  • At the time of writing (10.40 PM), the share price of Moil is at 158.50 which is 2.16% higher than the previous day close.

For feedback and suggestions, write to us at editorial@iifl.com

Related Tags

  • Buzzing Stocks
  • MOIL
  • shares
sidebar mobile

BLOGS AND PERSONAL FINANCE

Read More

Most Read News

Indian markets end the day in red
28 May 2024|05:17 PM
Gaurav Banerjee to be CEO of Sony India
28 May 2024|05:18 PM
Indian markets in mixed zone
28 May 2024|02:23 PM
Read More
Knowledge Centerplus
Logo

Logo IIFL Customer Care Number
(Gold/NCD/NBFC/Insurance/NPS)
1860-267-3000 / 7039-050-000

Logo IIFL Securities Support WhatsApp Number
+91 9892691696

Download The App Now

appapp
Knowledge Centerplus

Follow us on

facebooktwitterrssyoutubeinstagramlinkedin

2024, IIFL Securities Ltd. All Rights Reserved

ATTENTION INVESTORS
  • Prevent Unauthorized Transactions in your demat / trading account Update your Mobile Number/ email Id with your stock broker / Depository Participant. Receive information of your transactions directly from Exchanges on your mobile / email at the end of day and alerts on your registered mobile for all debits and other important transactions in your demat account directly from NSDL/ CDSL on the same day." - Issued in the interest of investors.
  • KYC is one time exercise while dealing in securities markets - once KYC is done through a SEBI registered intermediary (broker, DP, Mutual Fund etc.), you need not undergo the same process again when you approach another intermediary.
  • No need to issue cheques by investors while subscribing to IPO. Just write the bank account number and sign in the application form to authorise your bank to make payment in case of allotment. No worries for refund as the money remains in investor's account."

www.indiainfoline.com is part of the IIFL Group, a leading financial services player and a diversified NBFC. The site provides comprehensive and real time information on Indian corporates, sectors, financial markets and economy. On the site we feature industry and political leaders, entrepreneurs, and trend setters. The research, personal finance and market tutorial sections are widely followed by students, academia, corporates and investors among others.

RISK DISCLOSURE ON DERIVATIVES
  • 9 out of 10 individual traders in equity Futures and Options Segment, incurred net losses.
  • On an average, loss makers registered net trading loss close to Rs. 50,000.
  • Over and above the net trading losses incurred, loss makers expended an additional 28% of net trading losses as transaction costs.
  • Those making net trading profits, incurred between 15% to 50% of such profits as transaction cost.
Copyright © IIFL Securities Ltd. All rights Reserved.

Stock Broker SEBI Regn. No: INZ000164132, PMS SEBI Regn. No: INP000002213,IA SEBI Regn. No: INA000000623, SEBI RA Regn. No: INH000000248

plus
We are ISO 27001:2013 Certified.

This Certificate Demonstrates That IIFL As An Organization Has Defined And Put In Place Best-Practice Information Security Processes.