MOIL raises manganese ore prices - Angel Broking

MOIL has raised manganese ore prices for various grades by 3-5% effective January, which is in line with our expectations. The prices have been raised on the back of seasonal pick up in demand as well as due to INR depreciation against the USD. We do not expect significant changes in our estimates due to this price increase. Hence, until the company reports its 3QFY2014 results, we maintain our estimates and Neutral rating on the stock.

Source : Equity Bulls

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