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MRPL shares fall 10% from intraday high after refinery fire in Mangaluru

The company said the affected unit’s battery limits were isolated, with firefighting expected to continue for some time as the incident is safely handled.

Reported · Written up by our desk · Asia

Mangalore Refinery and Petrochemicals shares reversed intraday gains in trade on Sept. 30 after the company reported a fire at its refinery facility near Jokatte in Mangaluru, LiveMint Markets said.

The stock climbed to a high of ₹180.80 before giving up gains and falling 10% from that level to ₹162.50, and was last seen trading 0.75% lower at ₹170.40.

MRPL said the battery limits of the affected unit have been isolated, and its emergency response and firefighting teams were actively controlling and dousing the fire.

The outlet reported that fire was brought under control, firefighting may continue for some time as part of safe handling, and no major injuries were reported, while one minor injury was sent to hospital and was described as out of danger.

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