MRPL gains on receiving bulk supply order for petcoke

MRPL gained 0.84% to Rs 54.25 at 12:40 IST on BSE after the company said it has obtained a bulk supply order of petcoke from Ramco Cements to supply 6000 metric tonnes of petcoke by barge from NMPT, Mangalore.

The company made the announcement before market hours today, 8 December 2014.

Meanwhile, the BSE Sensex was down 96.06 points, or 0.34%, to 28,362.04.

On BSE, so far 46,299 shares were traded in the counter, compared with an average volume of 1.95 lakh shares in the past one quarter.

The stock hit a high of Rs 55.65 and a low of Rs 54.10 so far during the day. The stock hit a 52-week high of Rs 80.65 on 21 May 2014. The stock hit a 52-week low of Rs 38.05 on 28 February 2014.

The stock had underperformed the market over the past one month till 5 December 2014, falling 8.66% compared with 1.94% rise in the Sensex. The scrip had also underperformed the market in past one quarter, declining 15.87% as against Sensex's 5.3% rise.

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

The order is the first major bulk supply of petcoke by barge, the company said.

Mangalore Refinery and Petrochemicals (MRPL) reported a net loss of Rs 951.47 in Q2 September 2014 compared with net profit of Rs 235.77 crore in Q2 September 2013. in The company's total income fell 14.2% to Rs 16134.84 crore in Q2 September 2014 over Q2 September 2013.

MRPL, a schedule 'A' CPSE and a subsidiary of ONGC is a state of art grassroot refinery located in a hilly terrain, north of Mangalore city, in Dakshin Kannada region.

ONGC holds 71.63% stake in MRPL as at 30 September 2014.

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