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MOIL surges on cutting prices of various grades of manganese ore

08 Apr 2015 Evaluate

MOIL is currently trading at Rs 284.55, up by 7.00 points or 2.52% from its previous closing of Rs. 277.55 on the BSE.

The scrip opened at Rs. 279.30 and has touched a high and low of Rs. 289.40 and Rs. 277.00 respectively. So far 12720 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 341.00 on 26-May-2014 and a 52 week low of Rs. 247.10 on 17-Apr-2014.

Last one week high and low of the scrip stood at Rs. 282.00 and Rs. 272.75 respectively. The current market cap of the company is Rs. 4861.08 crore.

The promoters holding in the company stood at 80.00% while Institutions and Non-Institutions held 10.39% and 9.61% respectively.

MOIL has reduced prices of various grades of manganese ore by up to 25% for the April-June quarter. Prices of all ferro grades of ore with manganese content of 46% and above have been reduced by 10%. While prices of ferro grades of ore with manganese below 46% have been reduced by 15%. The company has also cut existing price of Electrolytic Manganese Dioxide by 5%.

Meanwhile, Government has started the process for the disinvestment of MOIL’s 10% stake through an offer for sale which could fetch around Rs 500 crore to the exchequer. It holds 71.57% in the Miniratna PSU which is the largest producer of high grade manganese ore -- an essential input for steel making.

MOIL is the largest iron ore company in India and fifth largest in world. It currently operates seven underground mines (Kandri, Munsar, Beldongri, Gumgaon, Chikla, Balaghat and Ukwa mines) and three opencast mines (Dongri Buzurg, Sitapatore/Sukli, and Tirodi).

MOIL Share Price

327.60 1.05 (0.32%)
17-Apr-2026 16:59 View Price Chart
Peers
Company Name CMP
Coal India 438.70
NMDC 89.78
GMDC 733.40
Sandur Manganese 218.35
MOIL 327.60
View more..

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