Mangalore Refinery soars on getting nod to acquire stake in Mangalore SEZ
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Mangalore Refinery is currently trading at Rs. 227.00, up by 5.55 points or 2.51% from its previous closing of Rs. 221.45 on the BSE.
The scrip opened at Rs. 221.80 and has touched a high and low of Rs. 229.20 and Rs. 217.85 respectively. So far 192838 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 289.25 on 19-Feb-2024 and a 52 week low of Rs. 49.82 on 29-Mar-2023.
Last one week high and low of the scrip stood at Rs. 232.05 and Rs. 209.00 respectively. The current market cap of the company is Rs. 38583.46 crore.
The promoters holding in the company stood at 88.58%, while Institutions and Non-Institutions held 4.12% and 7.30% respectively.
Mangalore Refinery And Petrochemicals has received approval for acquisition of 1,34,80,000 equity shares of Mangalore SEZ (MSEZ) from IL&FS. After this acquisition, equity stake of the company shall increase from 0.96% to 27.92% in MSEZ. Cost of acquisition is Rs 47.18 crore. The Board of Directors of the company at its meeting held on March 22, 2024 has, inter-alia, approved the same.
Mangalore Refinery and Petrochemicals (MRPL) is Category 1 Miniratna Central Public Sector Enterprise (CPSE) under the Ministry of Petroleum & Natural Gas. The company is engaged in the business of refining of crude oil. MRPL is located in a beautiful hilly terrain, north of Mangaluru city, in Dakshina Kannada District of Karnataka State (India).
