MRPL declines on shutting down its two units

13 Apr 2012 Evaluate

Mangalore Refinery and Petrochemicals (MRPL) is currently trading at Rs. 64.15, down by 2.45 points or 3.68% from its previous closing of Rs. 66.60 on the BSE.

The scrip opened at Rs. 65.50 and has touched a high and low of Rs. 65.50 and Rs. 62.70 respectively. So far 147713 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 84.75 on 26-Jul-2011 and a 52 week low of Rs. 50.00 on 29-Dec-2011.

Last one week high and low of the scrip stood at Rs. 67.40 and Rs. 62.15 respectively. The current market cap of the company is Rs. 11313.03 crore.

The promoters holding in the company stood at 88.58% while Institutions and Non-Institutions held 3.48% and 7.94% respectively.

Mangalore Refinery and Petrochemicals (MRPL) has gone for emergency shutdown due to stoppage of water supply from Nethravathi river. The refinery was receiving around 5.5 mgd water from Nethravathi river. The water availability in the Nethravathi river and its downstream dams started depleting from the end of March.

As a result of this the District authorities enforced reduction of water supply to MRPL to one-third level and finally on April 11, 2012, completely stopped the intake of water from the Nethravathi river.

As on date, reserve water availability in the refinery can meet the full load for 1.5 days. In order to overcome the situation and pulling on the resources for next couple of days till rainfall starts, the company has decided to shut down the Phase III and Phase II units with immediate effect. Further, this will result in shortage of supply of products to MRPL fed locations.

MRPL is a joint venture oil refinery promoted by Hindustan Petroleum Corporation (HPCL), a public sector company and IRIL & Associates (AV Birla Group). It has a design capacity to process 9.69 million metric tonnes per annum and is the only refinery in India to have two hydrocrackers producing Premium Diesel (High Cetane).

MRPL Share Price

155.65 -1.90 (-1.21%)
25-Nov-2024 16:59 View Price Chart
Peers
Company Name CMP
Reliance Industries 1287.80
Indian Oil Corp. 136.45
BPCL 296.75
HPCL 376.70
MRPL 155.65
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