MRPL and Shriram Finance report quarterly financial results

Mangalore Refinery and Petrochemicals Limited (MRPL) saw its shares rise 12% following strong performance driven by higher product realisations and middle-distillate cracks. The company's EBITDA margin expanded to 10.1% year-on-year. Brokerage firm Choice expects diesel prices to remain elevated through FY27, supporting earnings growth. Despite an exceptional loss of Rs 118.76 crore due to a fire at its Coker Hydrotreater unit, the company's assets are reportedly adequately insured.

Shriram Finance shares fell nearly 7% to an 11-month low despite a 60% year-on-year increase in profit after tax to Rs 3,680 crore for the September quarter. While net interest income grew 40% to Rs 8,410 crore, other income fell below estimates. Motilal Oswal Financial Services retained a 'Buy' rating but lowered its target price, citing higher credit costs. Nuvama Institutional Equities also flagged rising asset-quality risks and sector-wide valuation de-rating, though it maintained a 'Buy' rating based on growth momentum.