MRPL hits highest level since Oct 2018; stock more-than-doubles in 2 months

Higher GRMs are likely to benefit from favourable global refining scenario and the MRPL is expected to report healthy earnings in near term, analysts said

Shares of Mangalore Refinery & Petrochemicals (MRPL) continued at their northward movement, surging 9 per cent on the BSE, to hit a over four-year high of Rs 118.55 on the BSE in an otherwise a subdued market on Wednesday. The stock of the refineries & marketing company has surged 31 per cent in the past two trading days on expectation of strong earnings.

At 09:30 am, MRPL was 6 per cent higher at Rs 114.85, as compared to 0.13 per cent decline in the S&P BSE Sensex. The stock exchanges had revised circuit limit on of MRPL from 5