[Ferro-Alloys.com]Moneycontrol Bureau Shares of MOIL   gained nearly 7 percent intraday Friday on getting mining lease in Balaghat district of Madhya Pradesh. "The Government of Madhya Pradesh has granted mining lease over 48.974 hectare in village Lugma, tehsil Paraswada of Balaghat district (Madhya Pradesh) in favour of MOIL," says the state-owned manganese-ore mining company in its filing. This lease has been executed & registered by the company and mining area falls under Ukwa Mine of the company. In February, MOIL approved investment proposal for setting up 10.50 MW solar power project for captive use in lease hold areas of company’s mines in Madhya Pradesh and Maharashtra, with a total estimated cost of Rs 61.83 crore. At 12:46 hours IST, the scrip of MOIL was quoting at Rs 217.90, up Rs 10.50, or 5.06 percent on the BSE.

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