Monday 12 August 2013

MRPL advances on the plans of launching 120 fuel retail outlets

Mangalore Refinery & Petrochemicals (MRPL) is currently trading at Rs. 30.45, up by 0.50 points or 1.67 % from its previous closing of Rs. 29.95 on the BSE.

The scrip opened at Rs. 31.00 and has touched a high and low of Rs. 31.00 and Rs. 30.45 respectively. So far 17683 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 70.50 on 10-Oct-2012 and a 52 week low of Rs. 28.10 on 05-Aug-2013.

Last one week high and low of the scrip stood at Rs. 32.50 and Rs. 28.10 respectively. The current market cap of the company is Rs. 5380.48 crore.

The promoters holding in the company stood at 88.58% while Institutions and Non-Institutions held 3.18% and 8.23% respectively.

Mangalore Refinery and Petrochemicals (MRPL), the wholly owned subsidiary of state-run Oil and Natural Gas Corporation’s (ONGC) is planning to launch 120 fuel retail outlets in its base state, Karnataka in the first phase of its retail expansion strategy. The company already has an approval from the govt to set up 500 fuel retail outlets since 2006, while its parent company ONGC has an approval to set up 1100 retail outlets.

Recently, the company reported a net loss of Rs 454 crore in the June quarter on back of foreign exchange losses. The loss of Rs 454 crore in April-June quarter was, however, lower than a net loss of Rs 1,521 crore in the same period a year ago.

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