MRPL trades below my Rs 162.40 exit; restart still undated

Mangalore Refinery trades at Rs 161.29 this morning on StockGro, down 2.2 percent from Rs 164.88 and below the Rs 162.40 exit level from my 5 October post. The stock has fallen for four sessions since 15 October, from Rs 185.25, a drop of about 13 percent. No company-specific reason has been reported, and I could not find one in any source I checked. The Q2 FY27 result I covered on 19 October showed profit nearly tripling. But the quarter ended on the day of the fire, so it largely predates the damage. No source gives a restart date for the Coker Hydrotreater unit, which is the gate in my 5 October post. [][***** is trading at the exit level, so the test is close. The exit is a close, not an intraday print, so it is not yet hit. My view: hold for holders, with the exit one close away. Fresh money stays out, because the restart is still undated. Without a dated restart, no fresh money. My exit is a close below Rs 162.40, the 30 September intraday low from my 5 October post, or a restart date after 31 December, as set in that post. If today’s close is below Rs 162.40, the exit is hit. Disclosure: Vijay Kumar Gupta, SEBI Registered Research Analyst, INH000020226, Vijay Gupta Advisory. SEBI registration and NISM certification do not guarantee performance or assure returns. Securities markets are subject to market risks. No holdings in the subject company.