In the bustling world of the stock market today, certain stocks rise above the rest, capturing the attention of investors and analysts alike. On April 24, 2024, three notable companies stood out for their significant movements and noteworthy indicators: Mangalore Refinery And Petrochemicals Ltd., Aegis Logistics Ltd., and Chennai Petroleum Corporation Ltd. Let’s delve into the details of each and explore the factors driving their performances.
Mangalore Refinery And Petrochemicals Ltd.
Mangalore Refinery And Petrochemicals Ltd. (MRPL) experienced a remarkable surge on April 24, 2024. The stock’s price ranged from a low of INR 225.10 to a high of INR 253.70, with a staggering volume of 3,98,49,649 shares traded. This represented an impressive increase in price of 10.8%.
About the Company:
MRPL is primarily engaged in the refining of crude oil and is a subsidiary of Oil and Natural Gas Corporation Limited (ONGC), holding 71.63% equity shares.
Key Indicators:
SuperTrend indicating Buy: The stock’s SuperTrend shifted to Buy after 27 days, signaling a bullish momentum.
PSAR indicating Bullish Trend: MRPL’s Parabolic SAR moved below the price, indicating a potential uptrend.
Crossing Upper Bollinger Band: The stock closed at INR 248.70, crossing its Upper Bollinger Band by 2.1%, suggesting a potential uptrend.
Increasing Relative Strength: The stock’s Relative Strength against the benchmark index increased by 0.15 in the last three days, with the current RS standing at 0.35.
High Volume & Delivery: MRPL witnessed a surge in volume and delivery, with both metrics significantly surpassing their 5-day averages by 13.7 times and 7.8 times, respectively.
Crossing Last Month High: The stock closed above its previous month’s high, signaling further bullish sentiment.
Fundamentals:
Sector: Crude Oil
Industry: Refineries
Market Cap.: INR 43,560.84 Cr.
Category: Small Cap
Enterprise Value (EV): INR 57,501.26 Cr.
Book Value / Share: INR 70.28
Price-Earning Ratio (PE): 9.96
PEG Ratio: 1.77
Dividend Yield: 0.00
Aegis Logistics Ltd.
Aegis Logistics Ltd. witnessed significant movement on April 24, 2024, with its stock price ranging from INR 518.65 to INR 610.00 and a trading volume of 1,31,72,710 shares. The stock experienced an impressive increase in price of 12.4%.
About the Company:
Aegis Logistics Ltd. is a leading oil, gas, and chemical logistics company in India. It operates a network of bulk liquid terminals, LPG terminals, filling plants, pipelines, and gas stations.
Key Indicators:
Crossing Upper Bollinger Band: The stock closed at INR 604.50, crossing its Upper Bollinger Band by 5.7%, indicating a potential uptrend.
Crossing All Time High: Aegis Logistics closed at INR 604.50, surpassing its previous all-time high by 9.13%.
Increasing Relative Strength: The stock’s Relative Strength against the benchmark index increased by 0.18 in the last three days, with the current RS at 0.51.
High Volume & Delivery: Aegis Logistics witnessed a surge in volume and delivery, with both metrics significantly surpassing their 5-day averages by 4.3 times and 2.4 times, respectively.
Fundamentals:
Sector: Logistics
Industry: Logistics
Market Cap.: INR 21,196.89 Cr.
Category: Small Cap
Enterprise Value (EV): INR 20,838.10 Cr.
Book Value / Share: INR 108.20
Price-Earning Ratio (PE): 41.26
PEG Ratio: 2.23
Dividend Yield: 0.95
Chennai Petroleum Corporation Ltd.
Chennai Petroleum Corporation Ltd. (CPCL) exhibited significant movement on April 24, 2024, with its stock price ranging from INR 915.10 to INR 1,098.65 and a trading volume of 1,62,64,605 shares. The stock experienced an impressive increase in price of 15.8%.
About the Company:
CPCL is engaged in the refining of crude oil and the production and supply of various petroleum products. Its main products include liquefied petroleum gas, motor spirit, superior kerosene oil, high-speed diesel, and petrochemical feedstocks.
Key Indicators:
RSI entering Overbought zone: CPCL’s Relative Strength Index (RSI) crossed above 70, entering the overbought zone.
Crossing Upper Bollinger Band: The stock closed at INR 1075.00, crossing its Upper Bollinger Band by 6.3%, indicating a potential uptrend.
Credit Rating: Recent filings by CPCL under the category of Credit Rating suggest investor interest.
High Volume & Delivery: CPCL witnessed a surge in volume and delivery, with both metrics significantly surpassing their 5-day averages by 15.3 times and 5.2 times, respectively.
Fundamentals:
Sector: Crude Oil
Industry: Refineries
Market Cap.: INR 16,016.91 Cr.
Category: Small Cap
Enterprise Value (EV): INR 19,361.34 Cr.
Book Value / Share: INR 547.56
Price-Earnings Ratio (PE): 5.83
PEG Ratio: 0.19
Dividend Yield: 5.11
In conclusion, the stock market today on April 24, 2024, witnessed notable movements from Mangalore Refinery And Petrochemicals Ltd., Aegis Logistics Ltd., and Chennai Petroleum Corporation Ltd. Investors and analysts are closely monitoring these stocks as they exhibit bullish momentum and show potential for further growth. As always, prudent investment decisions should be based on a thorough analysis of both technical indicators and fundamental factors.
ALSO READ: Stock Market Update: April 24, 2024
