MRPL shares rose 6.4% on earnings recovery hopes despite a Q1 loss due to shutdowns and weak margins. Yes Securities retained a ‘buy’ with a Rs 180 target. Strong Q2 outlook, discounted Russian crude, and future petrochemicals expansion support long-term growth, while an HPCL merger appears unlikely before FY27.
Originally published by The Economic Times https://economictimes.indiatimes.com/markets