Top Stocks Today : IIFL Securities has Buy call on Mrpl

IIFL Securities has recommended buying Mrpl shares, with a target price of Rs 242, citing a potential upside of 5.8% from the current market price of Rs 228.88. The research firm believes that Mrpl's strong refining margins and robust domestic demand will drive growth for the company. IIFL Securities has a positive outlook on Mrpl due to its efficient operations, cost optimization initiatives, and plans for capacity expansion. The firm expects Mrpl to maintain its profitability and deliver consistent returns to shareholders.

About Mrpl:

MRPL (Mangalore Refinery and Petrochemicals Limited) is an Indian oil refining and marketing company based in Mangalore, Karnataka. It is a subsidiary of ONGC, the largest oil and gas company in India. MRPL operates a refinery with a capacity of 15 million metric tonnes per annum (MMTPA) and a petrochemical complex with a capacity of 3.6 MMTPA. The company's products include petrol, diesel, LPG, kerosene, and petrochemicals. MRPL is the second largest refiner in India and the largest producer of petrochemicals in the country. It has a strong presence in the southern and western regions of India and is a major supplier of petroleum products to these regions.

52 Week Price Trend:

MRPL (NSE: MRPL), a leading Indian oil refinery and petrochemical company, has seen a significant rise in its stock price over the past year. With a current market price (CMP) of Rs 228.88, MRPL's stock has performed well, despite facing challenges like fluctuating crude oil prices and economic uncertainties. However, the stock remains below its 52-week high of Rs 289.25, indicating potential for further growth. MRPL's strong financials and strategic initiatives position it for long-term success.

Stratzy's MOST Analysis:

MRPL has received an AA- rating from Stratzy's MOST framework, indicating a low fundamental risk. This rating is based on strong management, positive outlook, high safety, and a stable trend. The scoring system considers four pillars: management, outlook, safety, and trend. MRPL has performed well in all these areas, showcasing its strong fundamentals and overall stability.

Company's Fundamentals:

Mrpl (NSE: MRPL), an NSE-listed company, exhibits attractive valuation metrics. The company's Price-to-Earnings (PE) ratio of 9.77 indicates its stock is reasonably priced compared to its earnings potential. The Price-to-Book (PB) ratio of 3.58 reveals that the stock is not overvalued relative to its book value. Additionally, with a Dividend Yield of 0.41%, Mrpl offers a modest income stream to investors seeking a balance between capital appreciation and dividend income. These factors suggest that Mrpl may be an attractive option for investors seeking value and income.

Fundamental and Technical information provided in this blog were last updated on 09 Jul, 2024

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