Mangalore Refinery And Petrochemicals will hold a meeting of the Board of Directors of the Company on 30 January 2023.

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The stock slipped nearly 15% in the past six trading sessions to end at Rs 52.60 on 23 December 2022, from its recent closing high of Rs 61.85 recorded on 15 December 2022.

On the BSE, 2.73 lakh shares were traded in the counter so far compared with average daily volumes of 5.06 lakh shares in the past two weeks. The stock hit a high of Rs 54.35 and a low of Rs 52.3 so far during the day.

The stock hit a 52-week high of Rs 127.6 on 8 June 2022. The stock hit a 52-week low of Rs 37.1 on 24 February 2022.

The stock had underperformed the market over the past one month, declining 8.57% compared with 2.77% fall in the Sensex.

The scrip had underperformed the market in past three months, sliding 10.54% as against Sensex's 6.35% jump.

However, the counter had outperformed the market in past one year, surging 29.26% as against 5.84% rise in Sensex.

On the technical front, the stock's daily RSI (relative strength index) stood at 38.923. 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 below its 50-day, 100-day and 200 day simple moving average (SMA) placed at 56.78, 62.65 and 66.89, respectively. These levels will act as crucial resistance zones in near term.

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 30 September 2022, Oil and Natural Gas Corporation (ONGC) held 71.63% stake in the company.

The company reported a standalone net loss of Rs 1,789.14 crore in Q2 FY23 as compared to a net loss of Rs 242.54 crore in Q2 FY22. Revenue from operations (excluding excise duty) climbed 85.8% year on year to Rs 24,608.02 crore in quarter ended 30 September 2022.

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Mangalore Refinery And Petrochemicals announced the appointment of Arun Kumar Singh (DIN: 06646894) (aged 60 years), Chairman, Oil and Natural Gas Corporation as Chairman/Additional Director (Nominee - ONGC).

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Net Loss of Mangalore Refinery And Petrochemicals reported to Rs 1779.26 crore in the quarter ended September 2022 as against net loss of Rs 410.15 crore during the previous quarter ended September 2021. Sales rose 85.47% to Rs 24608.03 crore in the quarter ended September 2022 as against Rs 13268.13 crore during the previous quarter ended September 2021.

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