MOIL stock up 3% on manganese ore price hike

NEW DELHI: MOIL Ltd surged nearly 3 per cent in trade on Tuesday after the company said it increased prices of different grades of manganese ore.

"In line with the company's business practice of revising the prices of manganese ore quarterly, it has increased prices of different grades of manganese ore in the range of 12.5-15 per cent for the July-September 2012 quarter," the company said in a filing with the Bombay Stock Exchange.

At 10:00 a.m., MOIL was trading 2.6 per cent higher at Rs 286.85. It has hit a high of Rs 288 and a low of Rs 282.75 today.