MOIL makes handsome debut at bourses

State-run MOIL (earlier Manganese Ore India Ltd) on Wednesday made a handsome debut at the Indian bourses and listed at a premium of nearly 47 per cent on the Bombay Stock Exchange, against the issue price of Rs 375.

The scrip of the manganese ore major listed at Rs 551, a surge of 46.93 per cent against the issue price of Rs 375 on BSE.

Similarly, it opened at Rs 565 at the National Stock Exchange, which is 50.66 per cent up from its issue price. On the volume front, over two crore shares MOIL were traded on the two bourses within the first one hour of trade.

Market analysts said the good opening of MOIL has met the street expectations and further lifted investors confidence in state-run public offers.

Meanwhile, the BSE barometer Sensex was trading at 19,703.63, down 95.56 points at 10.15 am.