Mangalore Refinery & Petrochemicals (MRPL) jumped 11.31% to Rs 120.60, extending rise to fourth consecutive trading session.
Shares of the MRPL surged 46.89% in four trading sessions from its previous closing low of Rs 82.10 on 2 June 2022. The counter hit 52-week high of Rs 123.30 in intraday today. The stock has soared 225.07% from its 52-week low of Rs 37.10 recorded on 24 February 2022.
On the BSE, 35.44 lakh shares were traded in the counter so far compared with average daily volumes of 9.84 lakh shares in the past two weeks.
In last one month, the stock has jumped nearly 64%. outperforming the Nifty 50 index which rose 1.06% in the same period.
On the daily chart, the stock is trading above its 50, 100 and 200-day simple moving average placed at 70.07, 56.77 and 51.41 respectively. These levels will act as crucial support zones in near term.
On the technical front, the stock's daily RSI (relative strength index) stood at 79.94. The RSI oscillates between zero and 100. Traditionally the RSI is considered overbought when above 70 and oversold when below 30..
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MRPL, a subsidiary of ONGC, is Category 1 Miniratna Central Public Sector Enterprise (CPSE) under the Ministry of Petroleum & Natural Gas. The refinery has a flexibility to process crudes of various API, delivering a variety of quality products. As on 31 March 2022, Oil and Natural Gas Corporation (ONGC) held 71.63% stake in the company.
The company reported consolidated net profit of Rs 3,008.43 crore in Q4 FY22 as against net profit of Rs 268.65 crore in Q4 FY21. Net sales surged 82.6% to Rs 24,803.82 crore in Q4 FY22 over Q4 FY21.
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