India's MOIL plunges on manganese ore price cut

Moil

02/09/2024 08:37

** Shares of manganese ore miner MOIL  MOIL.NS  down 3.9% at
384.55 rupees, their lowest since late-April 
    ** Co said it cut prices of all ferro grades of manganese
ore between 15% and 20%, effective Sept. 1 
    ** It also slashed prices of electrolytic manganese dioxide,
which is used in batteries and other electrochemical energy
storage devices by 2.4% 
    ** Including session's gains, stock is up ~25% YTD 

 (Reporting by Manvi Pant in Bengaluru)
 ((Manvi.Pant@thomsonreuters.com; +918447554364;))