Shares of Mangalore Refinery and Petrochemicals (MRPL) reversed all their intraday gains in Wednesday’s trade on 30 September and turned lower after the company reported a fire accident at its refinery facility near Jokatte in Mangaluru.
The shares began the session on a higher note at ₹172.50 and went on to hit a day’s high of ₹180.80 before giving up all their gains and falling 10% from the day’s high to a low of ₹162.50. At the time of writing this report, the stock was trading 0.75% lower at ₹170.40.
The company in its filing today, said an incident involving rupture of the Cold Separator operating at high pressure in the Coker Hydrotreater Unit occurred at
It said the battery limits of the affected unit have been isolated, and MRPL’s emergency response and firefighting teams are actively engaged in controlling and dousing the fire. Fire has been brought under control.
MRPL said the firefighting operation may continue for some time as part of the safe handling of the incident.
No major injuries have been reported. One minor injury has been reported and shifted to hospital and is out of danger and necessary medical attention is being provided, the company said.
The situation is being closely monitored, with safety of personnel and the facility being accorded the highest priority, MRPL added.
MRPL also said there is absolutely no reason to panic for individuals within and outside MRPL premises.
