Mangalore Refinery & Petrochemicals rose 2.33% to Rs 65.95 at 9:54 IST on BSE, with the stock recovering on bargain hunting after recent steep slide.
Meanwhile, the S&P BSE Sensex was up 48.17 points or 0.19% at 25,238.65.
On BSE, so far 50,000 shares were traded in the counter as against average daily volume of 4.36 lakh shares in the past two weeks.
The stock hit a high of Rs 66.15 and a low of Rs 64.45 so far during the day.
Shares of Mangalore Refinery & Petrochemicals (MRPL) had declined 14% in five trading sessions to settle at Rs 64.45 on Monday, 16 June 2014, from a recent high of Rs 74.95 on 9 June 2014.
MRPL reported a net profit of Rs 1067.04 crore in Q4 March 2014 as against net loss of Rs 61.90 crore in Q4 March 2013. Net sales rose 2.9% to Rs 19127.51 crore in Q4 March 2014 over Q4 March 2013.
MRPL, a subsidiary of ONGC, is a grassroot refinery. MRPL has a design capacity to process 15 million metric tons per annum and has 2 hydrocrackers producing premium diesel (high cetane). It also has 2 CCRs producing unleaded petrol of high octane.
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