MOIL rose 1.39% to Rs 237.40 at 9:39 IST on BSE after the company revised prices of various grades of manganese ore for the January-March 2014 quarter.
The company made the announcement after market hours on Friday, 3 January 2014.
Meanwhile, the BSE Sensex was down 101.79 points, or 0.49%, to 20,749.54.
On BSE, so far 1,045 shares were traded in the counter, compared with an average volume of 12,506 shares in the past one quarter.
The stock hit a high of Rs 237.45 and a low of Rs 234.80 so far during the day. The stock hit a record low of Rs 182.35 on 7 August 2013. The stock hit a 52-week high of Rs 274.90 on 10 January 2013.
The stock had outperformed the market over the past one month till 3 January 2014, rising 0.67% compared with the Sensex's 0.02% fall. The scrip had also outperformed the market in past one quarter, rising 12.55% as against Sensex's 4.77% rise.
The mid-cap company has an equity capital of Rs 168 crore. Face value per share is Rs 10.
MOIL said the price of the Ferro grade Manganese Ore has been increased by 3% and price of SMAGR & Fines have been increased by 7.5% in the January-March 2014 quarter over the prices in October-December 2013 quarter. The prices of Electrolytic Manganese Dioxide (EMD) have been increased by 5% over the prices for October-December 2013 quarter, the company said.
MOIL's net profit fell 16.6% to Rs 90.57 crore on 1.2% decline in net sales to Rs 226.78 crore in Q2 September 2013 over Q2 September 2012.
MOIL operates 10 mines, six located in the Nagpur and Bhandara districts of Maharashtra and four in the Balaghat district of Madhya Pradesh.
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