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MRPL hits highest level since Oct 2018; stock more-than-doubles in 2 months

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

MRPL Q4 net profit up 15.7 per cent in fourth quarter
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SI Reporter Mumbai
Shares of Mangalore Refinery & Petrochemicals (MRPL) continued at their northward movement, surging 9 per cent on the BSE, to hit a over four-year high of Rs 118.55 on the BSE in an otherwise a subdued market on Wednesday. The stock of the refineries & marketing company has surged 31 per cent in the past two trading days on expectation of strong earnings.

At 09:30 am, MRPL was 6 per cent higher at Rs 114.85, as compared to 0.13 per cent decline in the S&P BSE Sensex. The stock exchanges had revised circuit limit on of MRPL from 5