MRPL shares (MRPL) made headlines on Monday, March 16, by surging over 16% in a single session, hitting an intraday high of ₹209.96. While the stock is seeing some profit booking today (trading around ₹195 – ₹196)
Contents
1. Why is MRPL Stock Rising?
- Interim Dividend: The company recently declared an interim dividend of ₹4 per share (40%). The record date and payment are major attractions for “income-seeking” investors.
- Massive Profit Jump: MRPL reported a four-fold jump in its Q3 net profit, soaring to ₹1,445 crore compared to ₹304 crore in the previous year.
- Refinery Efficiency: Despite rumors of shutdowns due to Middle East tensions, MRPL has officially clarified that its refinery is well-stocked and operating smoothly.
- Volume Spike: Yesterday, over 14.5 crore shares changed hands—a huge increase from its usual daily average, signaling big institutional buying.
2. MRPL Performance
| Metric | Current Value |
| Current Market Price (CMP) | ₹195.91 |
| 52-Week High | ₹212.31 |
| 52-Week Low | ₹110.71 |
| 1-Year Return | +73.4% |
| Market Cap | ₹34,296 Crore |
3. Technical Analysis: What Do the Charts Say?
- The “Bull” Run: MRPL is trading comfortably above its 50-day and 200-day moving averages. This is a classic long-term “Buy” signal.
- Golden Crossover: The stock recently saw a technical breakout on the weekly charts, which often leads to sustained gains over the next 1–2 months.
- Resistance Level: The immediate hurdle for MRPL is ₹212. If it breaks this level with high volume, we could see it head toward the ₹230+ zone.
4. Key Risks to Watch
- Crude Oil Prices: As a refinery, MRPL’s margins depend on global crude prices and the “Gross Refining Margin” (GRM). Any sudden spike in oil due to geopolitical issues could impact profits.
- Profit Booking: After a 16% jump in one day, it is natural for short-term traders to sell and take profits, which is what we are seeing in today’s morning session.
Conclusion: Should You Buy MRPL Share Now?
MRPL is currently a “High Momentum” stock. With a strong dividend yield and a massive turnaround in profits, it remains a favorite in the PSU (Public Sector Undertaking) space. However, new investors might want to wait for a slight dip toward the ₹185 – ₹190 support level for a better entry point.
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