Last week, ONGC’s subsidiary MRPLA spent Rs. Compared to net profit of Rs 73 crore, Q1 reported a unified net loss of Rs 271 crore for FY 26.
The June quarter’s operation has increased to Rs 20,988 crore, which is below 27,289 crore registered in Q1 FY 25. In addition, the company’s gross refining margin (GRM), the main indicator of profitability in the refining business, dropped at 88 3.88 per barrel compared to the barrel that illuminates the pressure on the main performance of the MRPL. Investors responded negatively to the results, which led to a significant drop in stock prices on Monday.
Price and Technology:
The stock has experienced significant volatility in the past year, which is a 52-week high. Overall, stock prices have dropped by about 35% in the last 12 months, reflecting challenges by the company and market conditions.
From a technical point of view, the Daily Relative Strength Index (RSI) is 59.6. Typically, the RSI below 30 indicates that the stock is oversold and may be for a rebound, while the RSI above 70 indicates that it is overlying and can withstand sales pressure. At 59.6, MRPL’s RSI also gives an extreme signal, showing neutral speed.
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Looking at the moving average, MRPL currently trades below six from eight simple moving average (SMA), which is usually a bearish indicator. The stock is only above 100-day and 150-day SMA, while it remains below the short-term average like a 200-day SMA and a long-term average. This mixed pattern indicates short -term weakness and pressure in stock prices despite a few long -term support levels.
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