MRPL hits the roof on bargain hunting

28 Jun 2022 , 01:18 PM

The stock fell 6.64% in the past three sessions to end at Rs 82.15 yesterday, from its recent closing high of Rs 88 on 22 June 2022. In the past one year, the stock soared 89% while the benchmark Nifty50 fell 0.34% and Sensex rose 0.56% during the same period. On the technical front, the stocks daily RSI (relative strength index) stood at 51.080. The RSI oscillates between zero and 100. Traditionally, the RSI is considered overbought when above 70 and oversold when below 30. On the daily chart, the stock is trading above its 50-day, 100-day and 200 day simple moving average (SMA) placed at 83.34, 63.84 and 55.06 respectively. MRPL, a subsidiary of ONGC, is Category 1 Miniratna Central Public Sector Enterprise (CPSE) under the Ministry of Petroleum & Natural Gas. The refinery has flexibility to process crudes of various API, delivering a variety of quality products. As on 31 March 2022, Oil and Natural Gas Corporation (ONGC) held 71.63% stake in the company. The company reported consolidated net profit of Rs 3,008.43 crore in Q4 FY22 as against net profit of Rs 268.65 crore in Q4 FY21. Net sales surged 82.6% to Rs 24,803.82 crore in Q4 FY22 over Q4 FY21. Powered by Capital Market – Live News