MRPL
MRPL shares fall 10% from day’s high after refinery fire in Mangaluru
Shares of Mangalore Refinery and Petrochemicals (MRPL) reversed early gains and dropped sharply on 30 September following a fire incident at its refinery near Jokatte in Mangaluru. The stock opened at ₹172.50 and climbed to a session high of ₹180.80 before declining after the company disclosed the fire in the Coker Hydrotreater Unit.
MRPL reported that the fire originated from a rupture in the Cold Separator operating under high pressure. The affected unit’s battery limits were isolated, and emergency response teams were deployed to control the blaze. The company confirmed that the fire has been brought under control, though firefighting operations may continue for some time as part of safe incident management.
No major injuries were reported. One minor injury occurred, with the individual shifted to hospital and stated to be out of danger, receiving necessary medical care. MRPL emphasized that the safety of personnel and the facility remains its top priority and that there is no cause for panic among those on or off the premises.
At the time of the report, MRPL shares were trading 0.75% lower at ₹170.40, having fallen 10% from the day’s peak. The company filed the details of the incident with the exchanges as per regulatory requirements. Market participants reacted to the operational disruption, prompting the sharp intraday reversal despite the early uptick in share price.
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