MOIL has been hitting new highs consistently for the past week and today too, the stock hit a new high at Rs.387.90 and it continues to rule firmly in the green at Rs.382 levels, up around 6%.

The largest iron ore company of India, the stock price is up as the overall sentiments for metal stocks is on the rise and more specifically, the company has raised prices.

Effective yesterday, 1st November, MOIL increased prices of various grades of manganese ore for Q3 by 30% on the existing prices of all Ferro Grades of ore. It has brought about a 25% price hike on all grades of SMGR (Mn 30%) and SMGR Low (Mn 25%) on the prevailing prices.

The company has also prices by 25% on all grades of Fines and by 25% of all chemical grades ore on the prevailing prices. The existing price of Electrolytic Manganese Dioxide (EMD) has remained unchanged.