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Business
MRPL Shares Drop Over 5% After Mangalore Refinery Fire Report
✍️ upstox.com
🗓 01 Oct 2026, 10:17 AM
👁 14
Shares of Mangalore Refinery and Petrochemicals Limited fell more than 5% on Tuesday after reports of a fire at its Mangaluru plant, marking a 2% decline in the stock over the past month.
Mangalore Refinery and Petrochemicals Limited (MRPL), a key player in India’s refining sector, saw its shares tumble more than 5% on Tuesday after media reports of a fire at its Mangaluru plant.
The incident, which was reported to have started in one of the refinery’s storage tanks, prompted a temporary shutdown of operations in the affected area. Initial assessments suggest no casualties, but the fire caused significant damage to equipment.
The market reacted swiftly, with MRPL shares falling 5.2% in early trading, the steepest decline in the company’s recent history. The drop contributed to a 2% month‑to‑date decline in the stock’s value.
Analysts warn that the incident could disrupt production schedules and impact the company’s earnings outlook, while regulators are expected to investigate the cause of the fire and assess safety compliance.
The incident, which was reported to have started in one of the refinery’s storage tanks, prompted a temporary shutdown of operations in the affected area. Initial assessments suggest no casualties, but the fire caused significant damage to equipment.
The market reacted swiftly, with MRPL shares falling 5.2% in early trading, the steepest decline in the company’s recent history. The drop contributed to a 2% month‑to‑date decline in the stock’s value.
Analysts warn that the incident could disrupt production schedules and impact the company’s earnings outlook, while regulators are expected to investigate the cause of the fire and assess safety compliance.