MRPL shares plunge 10% from day's high after fire breaks out at CHT unit

Mangalore Refinery And Petrochemicals Ltd (MRPL) shares fell 10% from the day's high on Wednesday after an incident involving the rupture of a high-pressure Cold Separator at the company's Coker Hydrotreater Unit (CHT) resulted in a fire. The company said the affected unit's battery limits were isolated and its emergency response and firefighting teams were deployed to control the blaze.

MRPL said the fire had been brought under control, although firefighting operations could continue for some time as part of the safe handling of the incident. The company also said there was no reason for panic for people within and outside the MRPL premises.

MRPL shares touched a day's high of Rs 180.75 before falling to a low of Rs 162.40, marking a 10.15% decline from the day's high. The stock later recovered some of its losses and closed at Rs 169.25, down 1.43% from the previous close of Rs 171.70.

The company said no major injuries had been reported in the incident. One person, who suffered a minor injury was shifted to hospital and was reported to be out of danger while receiving necessary medical attention.

The incident involved the Cold Separator operating at high pressure in the Coker Hydrotreater Unit. MRPL said the situation was being closely monitored, with the safety of personnel and the facility being given the highest priority.

The company added that further verified information would be shared as it becomes available. The release did not provide details on the financial impact of the incident or any potential operational disruption.

Mangalore Refinery and Petrochemicals Limited (MRPL) is a Schedule 'A' Miniratna Central Public Sector Enterprise primarily engaged in crude oil refining and petrochemical manufacturing