MRPL

MRPL swung to a third-quarter loss from a year-ago profit on Monday, hurt by the government's windfall tax on some fuel exports and a surge in the cost of materials consumed

According to the technical analyst from Anand Rathi, ABB can advance to Rs 2,880; while MRPL can jump to Rs 57.

Mangalore Refinery and Petrochemicals Ltd (MRPL) net profit zoomed to Rs 2,707 crore in the first quarter of the current fiscal on the back of record refining margins.

MRPL, Chennai Petroleum and Hindustan Oil Exploration soared around 8 per cent each. Oil explorers - Oil India and ONGC also logged smart gains in an otherwise weak market.

Oil prices tumbled about 5 per cent to a three-week low on Friday, as investors feared that interest rate hikes from major central banks could slow the global economy and cut demand for energy.

Is there more steam left in these counters, or is it time to take money off the table? Here's what technical charts suggest.

Higher GRMs are likely to benefit from favourable global refining scenario and the MRPL is expected to report healthy earnings in near term, analysts said

The rise in the Singapore gross refining margin (GRM) to a record high of $25.2 a barrel bodes well for Indian refiners as they process raw crude into refined products.

For Q4FY22, MRPL reported standalone net profit of Rs 3,008 crore as against profit of Rs 268 crore in Q4FY21.

Stocks to Watch Today: Aditya Birla Capital, Apollo Tyres, GSPL, HCC, L&T, RBL Bank, Siemens and Tata Motors ahead of Q4 earnings; Prudent Corporate Advisory Services IPO to close on Thursday.

These 5 PSU stocks can jump as much as 25 per cent from the current levels, provided the overall market momentum stays strong

Stocks to Watch Today: Tata Steel will stop doing business with Russia, the Indian steel major said on Wednesday

The stock hit over three-year high of Rs 65.45, after rallying 13% on the BSE in Wednesday's trade, on the back of heavy volumes.

Western sanctions on Russia over its invasion of Ukraine has prompted many companies and countries to shun its oil. This has led to Russian crude being available in the market at deep discounts

The Mangalore Refinery and Petrochemicals Limited (MRPL) posted a net profit of Rs 969 crore during the third quarter of 2021-22 against a loss of Rs 76 crore in the corresponding period in 2020-21.

ONGC is likely to look at merging its two oil refining subsidiaries, Hindustan Petroleum Corp and Mangalore Refinery and Petrochemicals, post-June 2021, its chairman Shashi Shanker said

Shares of the company closed at Rs 28.85 a unit on BSE, down by 0.86 per cent

The deal comes as Indian refiners ramp up purchases of U.S. oil to compensate for the loss of Iranian oil supplies

Delivery to take place between February 1 and 10

MRPL aims to expand refinery capacity to 500,000 barrels per bpd from 300,000 bpd