MOIL Limited Hikes Manganese Ore Prices Effective July 1, 2024

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Synopsis:

MOIL Ltd. increases prices of high-grade manganese ore by 2% and maintains electrolytic manganese dioxide at ₹210,000 PMT. Lower-grade ores and other products see an 8% decrease. The stock has surged 60% this year and 200% in 12 months.

MOIL Limited Hikes Prices for Manganese Ore

Shares of state-owned MOIL Limited are expected to remain in focus on Monday following the company's announcement of revised prices for manganese ore, effective July 1, 2024.

Explore:Moil Limited Share Price

Price Revisions Details

In an exchange filing, MOIL Ltd. disclosed that it has increased the prices of all ferro grades of manganese ore with a manganese content of Mn-44% and above by 2% from the existing prices.

This adjustment is in line with the company's regular practice of fixing and revising prices based on market conditions.

Conversely, prices for all other ferro grades of manganese ore with manganese content below Mn-44% have been reduced by 8% compared to previous prices.

Additionally, prices for silico manganese grades (SMGR) including Mn-30% and Mn-25%, fines, and chemical grades have also been decreased by 8%.

The company has decided to maintain the basic price of electrolytic manganese dioxide (EMD) at ₹210,000 per metric tonne (PMT) for the month of July.

Market Performance

On the preceding Friday, MOIL Ltd.'s stock closed at ₹494 per share on the National Stock Exchange (NSE), marking a decrease of 3.40%.

Despite this recent decline, the stock has demonstrated robust performance throughout the year, showing a remarkable increase of nearly 60% year-to-date and an impressive surge of 200% over the past 12 months.

This adjustment in prices reflects MOIL Ltd.'s strategy to adapt to market dynamics while maintaining competitive pricing for its products.

Disclaimer: Investments in the securities market are subject to market risk, read all related documents carefully before investing.

This content is for educational purposes only. Securities quoted are exemplary and not recommendatory.

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