MRPL shares fall over 5% after reports of fire incident at Mangaluru plant; stock down 2% in a month

Mangalore Refinery and Petrochemicals Ltd (MRPL) shares declined more than 5% during the trading session on Wednesday, September 30, as investors reacted to reports of the latest fire incident at the company’s Mangaluru refinery.

NSE data showed that MRPL shares declined 5.3% to touch an intraday low of ₹162.50 apiece on Wednesday’s market, in comparison to ₹171.62 apiece at the previous equity market close.

The trading activity of the company’s stock surged to more than 21 million equity shares on Wednesday’s market, as investors focused on the selling cues in the market after the reports of the blast.

After the intraday low, the company's shares recovered marginally but were still trading 3% lower during the afternoon market session at around ₹166.27 apiece on September 30.

Mangaluru refinery fire incident

Latest media reports from the Times of India showed that a loud blast was heard across Mangaluru on Wednesday, with thick black smoke rising into the air from the plant while fire and emergency teams rushed to the site.

Several media reports suggest that the incident occurred at around 12:25 pm on Wednesday.

The loud blast was reportedly first heard at the Mangaluru airport and in areas like Jokatte and Surathkal, after which the emergency teams were seen taking action, with additional fire tenders sent for assistance in the incident.

The report also suggests that MRPL officials confirmed that the fire incident occurred within the refinery premises. However, further details related to the extent of damage and whether or not there were any casualties are yet to be disclosed.

Kannada MP Capt Brijesh Chowta also told the news portal that he had obtained information from the authorities regarding the explosion and was in constant touch with MRPL officials, the police commissioner, Bajpe Town Panchayat and the Fire and Emergency Services Department regarding the incident.

Stock down 2% in a month

MRPL shares have declined nearly 2% in the past one-month period and were trading 0.7% higher in the last five market sessions, according to NSE data.

The company’s stock has risen more than 9% on a year-to-date (YTD) basis.

In the longer term, the refining company MRPL shares have delivered more than 258% returns to investors in the last five years, over 75% gains in the last three years, and more than 26% returns in the past one year period.

The company’s stock price remained in the focus of investors with the global rise in crude oil prices, as the refining company’s margins and revenue growth are dependent on the prices in the market.

MRPL’s market capitalisation (m-cap) was at ₹29,434.90 crore as of the trading session on Wednesday, September 30, 2026.