MRPL - Long consolidation & Breakout
MRPL has been undergoing a consolidation phase since 2018 and has recently formed a cup and handle pattern. Today, the stock experienced a notable 12% upward movement accompanied by high trading volumes.
In terms of its fundamentals, MRPL is an independent refinery that is 71.6% owned by ONGC, its parent company. During the fiscal year 2023, the company's revenues showed significant improvement, benefiting from strong support from ONGC. Furthermore, MRPL has managed to reduce its debt from 3.09 times to 1.76 times in 2023 due to a decrease in working capital requirements resulting from lower crude oil prices. However, one negative aspect of this stock is that it currently offers no dividend yield.
The stock is currently trading at a reasonable valuation of 5.91 times the Price-to-Earnings ratio. Considering the long-term perspective, investors may consider adding MRPL to their portfolio through systematic investment plans (SIP).
Please note that these views are personal and are intended solely for educational purposes.
In terms of its fundamentals, MRPL is an independent refinery that is 71.6% owned by ONGC, its parent company. During the fiscal year 2023, the company's revenues showed significant improvement, benefiting from strong support from ONGC. Furthermore, MRPL has managed to reduce its debt from 3.09 times to 1.76 times in 2023 due to a decrease in working capital requirements resulting from lower crude oil prices. However, one negative aspect of this stock is that it currently offers no dividend yield.
The stock is currently trading at a reasonable valuation of 5.91 times the Price-to-Earnings ratio. Considering the long-term perspective, investors may consider adding MRPL to their portfolio through systematic investment plans (SIP).
Please note that these views are personal and are intended solely for educational purposes.
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