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06-Sep2016

MRPL surges on plan of raising Rs 3,000 crore via NCDs

Mangalore Refinery & Petrochemicals (MRPL) is currently trading at Rs. 82.85, up by 3.55 points or 4.48 % from its previous closing of Rs. 79.30 on the BSE.

The scrip opened at Rs. 81.25 and has touched a high and low of Rs. 83.90 and Rs. 81.00 respectively. So far 279874 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 92.55 on 25-Jul-2016 and a 52 week low of Rs. 48.80 on 08-Sep-2015.

Last one week high and low of the scrip stood at Rs. 83.90 and Rs. 76.60 respectively. The current market cap of the company is Rs. 14511.52 crore.

The promoters holding in the company stood at 88.58%, while institutions and non-institutions held 4.17% and 7.25% respectively.

MRPL is planning to raise up to Rs 3,000 crore by way of issuing Non-Convertible Debentures (NCDs). The move is expected to improve its cash flow and aid in meeting working capital needs besides retiring part of its high cost debt.

MRPL is engaged in the business of refining crude oil. It offers high speed diesel oil, fuel oil and motor spirit. It operates as a subsidiary of Oil and Natural Gas Corporation. The company was founded in 1988 and is based in Mangalore, Karnataka.


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