India's MOIL hits record high after raising manganese ore prices

Moil

02/05/2024 05:33

** Manganese ore miner MOIL's  MOIL.NS  shares up as much
9.3% at a record high of 444 rupees; last up 7.2% 
    ** Company on Tuesday said prices of ore with manganese
content below 44% will be increased by 25%, effective May 1
    ** Adds, prices of ore with manganese content of 44% and
above, will be increased by 40%, effective May 1
    ** Stock has been trading above its 200-day moving avg since
last June
    ** More than 6.3 mln shares change hands by 10:02 a.m. IST,
1.5x the 30-day avg
    ** Including session's gain, stock is up 40% YTD

 (Reporting by Navamya Ganesh Acharya in Bengaluru)
 ((Navamya.GaneshAcharya@thomsonreuters.com; +91 8805175330 ;))