Shares of Mangalore Refinery and Petrochemicals (MRPL) dropped more than 5% on Wednesday afternoon after an explosion was reported at one of its plants in Mangaluru, with visuals showing thick plumes of smoke rising from its refinery unit.
MRPL shares dropped to Rs 162.50 apiece on NSE in the afternoon. Notably, the stock has crashed more than 10% from the day’s high following the incident. A fire was reported at the oil refinery near Jokatte in Karnataka, with several fire brigades and ambulances seen rushing to the incident, although the cause is yet unknown.
