MRPL, Chennai Petroleum shares surge 5% in a weak market - What is driving the stocks?
New Delhi, Sept. 28 -- MRPL and Chennai Petroleum shares surged 5% each in intraday trade on the BSE on Monday, 28 September, defying weak stock market sentiment. Shares of Mangalore Refinery and Petrochemicals (MRPL) opened at Rs.164.25 against their previous close of Rs.164.85 and jumped 5.2% to an intraday high of Rs.173.50. Around 11 am, the stock was at Rs.170.85, up 3.64%.
On the other hand, Chennai Petroleum Corporation's share price opened at Rs.1,381.40 against its previous close of Rs.1,375.90 and jumped 5.1% to an intraday high of Rs.1,446.25. Around 11 am, the stock was 4.31% up at Rs.1,435.20. Meanwhile, equity benchmark Sensex crashed more than 1,000 points, or 1.4%, during the session to hit an intraday low of 72,856.
The...
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