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Hold Mangalore Refinery and Petrochem; target of Rs 60: ICICI Direct

ICICI Direct recommended hold rating on Mangalore Refinery and Petrochem with a target price of Rs 60 in its research report dated November 02, 2022.

November 03, 2022 / 22:56 IST
     
     
    26 Aug, 2025 12:21
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    ICICI Direct's research report on Mangalore Refinery and Petrochem

    Mangalore Refinery & Petrochem (MRPL), a subsidiary of ONGC, is a refining company. The company has total refining capacity of 15 MMTPA • ONGC Mangalore Petrochemicals (OMPL), a subsidiary of MRPL, has been amalgamated with the company.

    Outlook

    We revise our rating on the stock from BUY to HOLD. We value MRPL at Rs 60/share i.e. ~0.7x FY24E BV.

    For all recommendations report, click here

    Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

    Mangalore Refinery & Petrochem - 03-11-2022 - icici

    Broker Research
    first published: Nov 3, 2022 10:56 pm

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