MRPL, Chennai Petroleum hit 52-week high on heavy volumes

MRPL up 10% to Rs 112, while CPCL surged 9% to Rs 331 in intra-day trade on BSE

Shares of refineries & petro products companies – Mangalore Refinery & Petrochemicals (MRPL) and Chennai Petroleum Corporation (CPCL) – have hit their respective 52-week highs on the Bombay Stock Exchange (BSE) in otherwise subdued market.

MRPL rallied 10% to Rs 112, while CPCL surged 9% to Rs 331 during intra-day trade on BSE on back of heavy volumes.

Post July-September (Q2FY17) results, CPCL has zoom 42%, while MRPL soared 27% as compared to less than 2% gain recorded by the benchmark index.

CPCL, a group company of Indian Oil, had reported a standalone net profit of Rs 98