MOIL rose 1.45% to Rs 381.80 at 11:07 IST on BSE after the company said it has increased prices of different grades of manganese ore, effective from 1 December 2016.
The announcement was made during trading hours today, 1 December 2016.Meanwhile, the BSE Sensex was up 25.32 points, or 0.09%, to 26,678.13.
On BSE, so far 1.03 lakh shares were traded in the counter, compared with average daily volume of 84,229 shares in the past one quarter. The stock hit a high of Rs 394 so far during the day, which is also a 52-week high for the counter. The stock hit a low of Rs 379 so far during the day. The stock hit a record low of Rs 180.10 on 12 February 2016. The stock had outperformed the market over the past 30 days till 30 November 2016, rising 4.32% compared with the 4.39% decline in the Sensex. The scrip had also outperformed the market in past one quarter, rising 50.51% as against Sensex's 6.23% decline.
The mid-cap company has equity capital of Rs 133.19 crore. Face value per share is Rs 10.
Prices of ferro grade ore have been hiked by 30%. Prices of SMGR grade and fines have been raised by 25% each and prices of chemical grade ore have been raised by 10%.
Price of elctrolyte manganese dioxide (EMD) has remain unchanged.
MOIL's net profit declined 14.6% to Rs 41.47 crore on 32.1% rise in net sales to Rs 196.03 crore in Q2 September 2016 over Q2 September 2015.
MOIL produces and sells different grades of manganese ore. Government of India currently holds 75.58% stake in MOIL (as per the shareholding pattern as on 11 October 2016).
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