BAJAJ BROKING
MOIL was fined ₹16.77 crore for exceeding production limits at Tirodi mine between 1993-96 and 2006-09. The company will appeal the decision. MOIL Ltd. share price dropped by 1.47%
State-owned Manganese Ore (India) Ltd (MOIL) was fined ₹16.77 crore by the Collector of Balaghat for exceeding production limits at the Tirodi mine. The penalty pertains to violations during the periods 1993-94 to 1995-96 and 2006-07 to 2008-09, where production exceeded the Environmental Clearance (EC) and Consent to Operate (CTO) limits.
Also read: BHEL Commissions First Two Units in Bhutan's Mega Hydroelectric Project
Penalty Amount: ₹16.77 crore imposed by the Balaghat Collector.
Affected Periods: 1993-96 and 2006-09.
Impact on Operations: No effect on current operations.
Appeal Status: MOIL to appeal the penalty.
Also read: Hindalco’s Novelis Offers $500-Million Notes to Refinance Debt
Despite the penalty, MOIL revised manganese ore prices, effective January 1, 2025. Ferro grades with Mn-44% and above saw a 1% price hike, while other ferro grades and silico manganese grades experienced a 5% increase. The basic price for electrolytic manganese dioxide (EMD) remains at ₹205,000 per metric tonne.
Grade | Price Change |
Ferro grades (Mn-44%+) | 1% increase |
Ferro grades (Mn-44%-) | 5% increase |
Silico manganese grades | 5% increase |
EMD | No change (₹205,000 PMT) |
Following the announcement of the penalty, the MOIL Ltd. share price fell by 1.47% to close at ₹338.25 on the BSE. The decline highlights investor sensitivity to regulatory and financial developments, though MOIL maintains its operational stability and focus on long-term growth.
Also read: Mahindra’s New Chakan Plant to Build 90,000 EVs Annually
Do you have a trading account app or demat account app?
You can open an account with Bajaj Broking in minutes.
Download the Bajaj Broking app now from Play Store or App Store.
Disclaimer: Investments in the securities market are subject to market risk, read all related documents carefully before investing.
This content is for educational purposes only. Securities quoted are exemplary and not recommendatory.
For All Disclaimers Click Here: https://bit.ly/3Tcsfuc
Share this article:
Disclaimer :
The information on this website is provided on "AS IS" basis. Bajaj Broking (BFSL) does not warrant the accuracy of the information given herein, either expressly or impliedly, for any particular purpose and expressly disclaims any warranties of merchantability or suitability for any particular purpose. While BFSL strives to ensure accuracy, it does not guarantee the completeness, reliability, or timeliness of the information. Users are advised to independently verify details and stay updated with any changes.
The information provided on this website is for general informational purposes only and is subject to change without prior notice. BFSL shall not be responsible for any consequences arising from reliance on the information provided herein and shall not be held responsible for all or any actions that may subsequently result in any loss, damage and or liability. Interest rates, fees, and charges etc., are revised from time to time, for the latest details please refer to our Pricing page.
Neither the information, nor any opinion contained in this website constitutes a solicitation or offer by BFSL or its affiliates to buy or sell any securities, futures, options or other financial instruments or provide any investment advice or service.
BFSL is acting as distributor for non-broking products/ services such as IPO, Mutual Fund, Insurance, PMS, and NPS. These are not Exchange Traded Products. For more details on risk factors, terms and conditions please read the sales brochure carefully before investing.
Investments in the securities market are subject to market risk, read all related documents carefully before investing. This content is for educational purposes only. Securities quoted are exemplary and not recommendatory.
For more disclaimer, check here : https://www.bajajbroking.in/disclaimer
Level up your stock market experience: Download the Bajaj Broking App for effortless investing and trading