MOIL shares gain 3% as company hikes manganese ore prices

Shares of manganese ore producer MOIL today rose by 3 per cent after the company increased prices of various grades of the commodity by up to 15 per cent for January-March quarter.
The stock went up by 3.05 per cent to end at Rs 378.05 on BSE. Intra-day, it gained 5.24 per cent to Rs 386.10.
On NSE, it jumped 3 per cent to settle at Rs 378.10.
In terms of volume, 1.45 lakh shares of the company were traded on BSE and over 10 lakh shares changed hands at NSE during the day.
"The company has fixed/revised price of various grade of manganese ore for 4th quarter (January-March, 2016) effective from January 1, 2017," MOIL had said in a BSE filing yesterday.

The prices have been hiked by 10 per cent with effect from January 1, on the existing prices since December 12, 2016 of all ferro grades of ore, it said.
MOIL produces and sells different grades of manganese ore.