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Mangalore Refinery & Petrochemicals Ltd. ( (IN:MRPL) ) has provided an update.
Mangalore Refinery and Petrochemicals Limited has clarified to stock exchanges that the recent sharp increase in trading volumes of its shares is not backed by any undisclosed price-sensitive information. Responding to a query from the National Stock Exchange’s surveillance team, the company stated that there is no pending event requiring disclosure under securities regulations and attributed the spike in volumes to market-driven factors, signaling to investors and regulators that no internal corporate development is behind the recent activity in the stock.
More about Mangalore Refinery & Petrochemicals Ltd.
Mangalore Refinery and Petrochemicals Limited (MRPL) is a Schedule ‘A’ Government of India enterprise and a subsidiary of Oil and Natural Gas Corporation Limited, operating in the refining and petrochemicals industry. The company runs a large refinery complex and produces a range of petroleum products and petrochemicals for domestic and export markets, operating under multiple quality and energy management certifications.
Average Trading Volume: 574,355
Technical Sentiment Signal: Strong Buy
Current Market Cap: 266.7B INR
Find detailed analytics on MRPL stock on TipRanks’ Stock Analysis page.