MRPL

MRPL
Mangalore Refinery & Petrochemicals slipped 1.59% to Rs 86.60 at 11:19 IST on BSE, after the company said it has entered into an agreement with Shell Aviation to form a joint venture company for marketing aviation fuel in India.
The company made this announcement during trading hours today, 6 February 2008.
Meanwhile, BSE Sensex was down 430.18 points or 2.30% to 18,232.98 as Asian markets tumbled after another recessionary piece of US economic data sent Wall Street shares down nearly 3% on Tuesday, 5 February 2008.
On BSE, 8.27 lakh shares were traded in the counter. The scrip had an average daily volume of 35.84 lakh shares in the past one quarter.
The stock hit a high of Rs 97.40 and a low of Rs 82.60 so far during the day. The stock had a 52-week high of Rs 149 on 4 January 2008 and a 52-week low of Rs 32 on 2 April 2007.
The mid-cap scrip had underperformed the market over the past one month till 5 February 2008, declining 37.52% compared to the Sensex’s decline of 10.33%. It had outperformed the market in the past one quarter, gaining 2.62% compared to Sensex’s decline of 3.25%.
The company’s current equity is Rs 1752.90 crore. Face value per share is Rs 10.
The current price of Rs 86.60 discounts its Q3 December 2007 annualized EPS of Rs 7.91, by a PE multiple of 10.95.
The joint venture company will initially market aviation turbine fuel (ATF) at Bangalore and Hyderabad, and later on at other Indian airports.
The joint venture company (JVC) would be incorporated as a private limited company, with initial equity of Rs 30 crore. The registered office and head office of the JVC would be in Bangalore.
Mangalore Refinery & Petrochemicals (MRPL)’s net profit rose 192.6% to Rs 346.60 crore on 11.2% growth in net sales to Rs 8137.49 crore in Q3 December 2007 over Q3 December 2006.
The company is engaged in manufacturing and marketing petroleum products, which include refineries and petrochemicals.