Mangalore Refinery Faces Significant Stock Decline Amid Sector Challenges
Mangalore Refinery & Petrochemicals Ltd. (MRPL) has encountered significant challenges, with its stock reaching a new 52-week low. Over the past month, MRPL's performance has lagged behind the broader market, reflecting ongoing difficulties in the oil exploration and refinery sector that are affecting its market position.
Mangalore Refinery & Petrochemicals Ltd. (MRPL) has faced notable challenges today, with its stock price declining by 4.8% and reaching a new 52-week low of Rs. 135.05. This decline highlights MRPL's struggle in the market, as it has underperformed relative to its sector, which has seen a smaller drop of 2.39%.Over the past three days, MRPL has experienced a cumulative decline of 8.76%, despite an intraday peak of Rs. 144.1, where it briefly rose by 2.42%. The stock is currently trading below all key moving averages, including the 5-day, 20-day, 50-day, 100-day, and 200-day averages, indicating a prevailing bearish trend.
In the last month, MRPL's stock has decreased by 10.40%, contrasting with the broader Sensex index's decline of 7.14%. This performance underscores the ongoing difficulties faced by the oil exploration and refinery sector, impacting MRPL's market position and financial metrics.
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