India, Sept. 9 -- The Mangalore-based refiner under ONGC, saw its stock climb sharply this week as crude prices rose on fresh geopolitical tension in West Asia. The gain wasn't unique to MRPL refiners and upstream oil names moved in step, pointing to a sector-wide reaction rather than anything specific to the company. A supportive brokerage note helped extend the rally. Whether the move holds will likely come down to how crude prices and regional tensions play out over the next few sessions.

Shares of MRPL Ltd are trading at Rs. 184.00, up 6.38 percent on Wednesday. The stock touched the intraday high of Rs. 186.99 after opening at Rs. 173.19 before slipping to a low of Rs. 173.19. The company commands a market capitalization of Rs. 32,...