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MOIL climbs over 3% on price revision

NEW DELHI: MOIL climbed over 3 per cent on Thursday after th..

NEW DELHI: MOIL climbed over 3 per cent on Thursday after the state-owned company said it has increased the price of certain grades of ores as well as fines.

In a filing to the BSE, the company said the prices of ferro grade, SMGR and chemical grade have been increased by nearly 10 per cent from the prices set on January 1. The prices of fines have also been raised by nearly 5 per cent, it said, adding that the company would also offer a 10 per cent discount on certain grades of fines.

Following the announcement, the stock rose 3.39 per cent to hit a high of Rs 228.65 on the BSE.

The PSU firm reported a marginal 2.3 per cent YoY rise in standalone net profit at Rs 103.78 crore for the December quarter, compared with Rs 101.41 crore a year ago. Revenue for the quarter fell to Rs 299.80 crore, from the earlier Rs 355.30 core.

As of December-end, the company has a total of 2,66,375,608 outstanding shares.

Original Article


ET Markets


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