MOIL shares dip over 3% after price revisions for manganese ore

MOIL Ltd

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26 Aug, 2025 12:21

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Shares of MOIL Ltd fell over 3 percent on September 2 after the company announced a revision in the prices of manganese ore and other products, effective from September 1.

At 11.10 AM, shares of MOIL traded nearly 3 percent lower at Rs 389 per share. The stock has gained 30 percent in the past six months, outperforming the Nifty 50 which gained 13 percent during the same period.

For September 2024, prices for all Ferro grades of manganese ore with a manganese content of 44 percent and above have been decreased by 20 percent from their levels as of August 1. Similarly, Ferro grades of manganese ore with manganese content below 44 percent have seen a price decrease of 15 percent.

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Price reductions were also applied to other categories of manganese ore and products. Prices for SMGR (Manganese content of 30 percent and 25 percent), fines, and chemical grades were decreased by 15 percent.

Additionally, the basic price of Electrolytic Manganese Dioxide (EMD), which was set at Rs 2.1 lakh per metric ton, was reduced by Rs 5,000 per metric ton, bringing the new price to Rs 2.05 lakh per metric ton.

Manganese is used in various industrial applications, particularly in stainless steel for its strength, workability, and wear resistance. Manganese oxide serves as an oxidising agent and finds uses in rubber additives, glassmaking, fertilisers, and ceramics.

MOIL is primarily engaged in the mining of manganese ore and is the largest manganese ore producer in the country. The company had three segments: mining, manufacturing, and power generation. It operates in underground and opencast mines in Nagpur and Bhandara in Maharashtra and Balaghat, Madhya Pradesh.

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