Shares of state-run manganese-ore miner MOIL surged over 8 percent on Thursday after it revised prices of different grades of manganese ore effective from January 1.

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The stock gained 8.56 percent to touch intraday high of Rs 158.50 on the BSE.

The prices of all grades of manganese ore having Mn-44% and above have been increased by around 7.5 percent and all the other Ferro grades of Manganese Ore having Manganese below 44 percent have been increased by around 10 percent on the prices prevailing as on December 31, 2019.

The prices of SMGR grades (Mn-30% & Mn-25%) and all grades of Fines (except Balaghat Fines) have been increased by around 15 percent and price of Balaghat Fines have been increased by 10 percent.

Further, the company also hiked the prices of all grades of Chemical by around 10 percent and basic price of Electrolytic Manganese Di-oxide (EMD) by around 5 percent.

However, Ferro Manganese/Ferro Manganese Slag and some identified grades of Manganese Ore will continue to be sold by e-auction as well as through Metal Mandi (M3) of MSTC, in line with the existing price, the company said.

At 11:30 am, shares of MOIL traded 4.86 percent higher at Rs 153.10 on the BSE.

First Published:Jan 2, 2020 11:36 AM IST