MRPL corrects on profit booking

Mangalore Refinery and Petrochemicals fell 8.18% to Rs 75.25 at 12:26 IST on BSE on profit booking after the stock rose 14.46% in the preceding three trading sessions to Rs 81.95 on 7 August 2015, from a recent low of Rs 71.60 on 4 August 2015.

Meanwhile, the BSE Sensex was up 146.59 points, or 0.52%, to 28,382.98.

On BSE, so far 21.09 lakh shares were traded in the counter, compared with an average volume of 3.70 lakh shares in the past one quarter.

The stock hit a high of Rs 80.70 and a low of Rs 74 so far during the day. The stock hit a 52-week high of Rs 82.90 on 7 August 2015. The stock hit a 52-week low of Rs 45.10 on 17 December 2014.

The stock had outperformed the market over the past one month till 7 August 2015, rising 7.33% compared with 0.23% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 16.99% as against Sensex's 6.16% rise.

The large-cap company has an equity capital of Rs 1752.60 crore. Face value per share is Rs 10.

Mangalore Refinery and Petrochemicals (MRPL) reported net profit of Rs 405.90 crore in Q1 June 2015 as against net loss of Rs 36.10 crore in Q1 June 2014. Net sales declined 28.13% to Rs 11313.11 crore in Q1 June 2015 over Q1 June 2014. The result was announced on Sunday, 9 August 2015.

MRPL is a subsidiary of ONGC with ONGC holding 71.63% stake in the firm (as per the shareholding pattern as on 30 June 2015).

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