Yesterday, March 28, MOIL closed at the highest level in the last eight months. It was up 3.5 percent yesterday; in fact, it gained as much as 11 percent in the last 5 days as well.
The last 5-day average volumes are 2.2 times compared to one-month average volumes and because of that, a surge is seen in deliverable volumes which are also nearly twice the one-month averages.
The reason behind this gain is hope and expectations with respect to price hikes in the products.
Watch the accompanying video of CNBC-TV18’s Mangalam Maloo for more details.
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