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This Miniratna Oil Stock Gained 86% In 6 Months, Falling Now After A Govt. Notification, Good Time To Buy?

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Mangalore Refinery & Petrochemicals Ltd. (MRPL) is a mid-cap Indian oil refinery company, which has given sharp returns to its shareholders in the past years.

 

The union government has recently notified that it will increase taxes on the export of petrol, diesel, and aviation turbine fuel (ATF). This decision has triggered the oil stocks to fall significantly. Companies like MRPL, ONGC, Oil India, and Hindustan Oil Exploration Company Ltd (HOEC) have experienced a major fall in their stock prices. So, it is a good opportunity to buy the stocks of the oil companies at lower prices for higher long-term gain.

Miniratna Oil Stock Gained 86% In 6 Months,Falling Now After A Govt Notification

Mangalore Refinery & Petrochemicals Ltd. - NSE market tracking

The current market price of MRPL stood at Rs. 81.55/share on NSE, falling by 9.99%, till last traded. In the last 5 days, the share price of this company has fallen by 2.68% on NSE, and in the last 1 month, its share price has fallen by 5.39%. But, in the past 6 months, its stock price has surged by 86.40%, and in the last 1 year, it has gained by 61.65%. However, in the last 5 years, it has fallen by 33.02%.

 

The 52-week high level of this stock is Rs. 127.65, and the 52-week low level of this stock is Rs. 37.05.

Market capitalizationCurrent market price1 Year performance6 Months performance
Rs. 14,292 croreRs. 81.5561.65%86.40%


About the company

According to data available with NSE, in Q4 FY22, the company's Total Income stood at Rs. 28,22,778 lakh, as against Rs. 25,23,757 lakh in the previous quarter. The company's Profit before tax (PBT) was reported at Rs. 2,32,297 lakh, as against Rs. 1,49,261 lakh in Q3 FY22. Additionally, its Net Profit stood at Rs. 3,00,818 lakh, as against Rs. 96,898 lakh in the earlier quarter.

Mangalore Refinery and Petrochemicals Limited (MRPL) is Category 1 schedule 'A' Miniratna, Central Public Sector Enterprise (CPSE) under the Ministry of Petroleum & Natural Gas. MRPL is located in Dakshina Kannada District of Karnataka State (India). The 15 Million Metric Tonne Refinery has got a versatile design with complex secondary processing units and high flexibility to process Crudes of various API, delivering a variety of quality products.

Disclaimer

Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution. Greynium Information Technologies, the author, and the brokerage house are not liable for any losses caused as a result of decisions based on the article.

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