Mangalore Refinery & Petrochemicals (MRPL) rose 3.09% to Rs 51.70 after the company said its board will meet on Thursday, 10 June 2021, to consider the amalgamation of ONGC Mangalore Petrochemicals (OMPL) with the firm.
The scrip extended gains for second day. The stock has added 4.97% in two sessions, from its recent closing low of Rs 49.25 recorded on 31 May 2021.
In the past six months, the stock has zoomed 54.34% while the benchmark Sensex has gained 15.39% during the same period.
MRPL is a subsidiary of ONGC and schedule 'A' Miniratna, Central Public Sector Enterprise (CPSE) under the Ministry of Petroleum & Natural Gas.
MRPL posted a net profit of Rs 328.30 crore in Q4 FY21 compared with net loss of Rs 1,629.14 crore in Q4 FY20. Net sales declined 3.94% year-on-year to Rs 13,575.94 crore in Q4 FY21.
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