MRPL Shares Crash 10% From Peak After Massive Blast Rocks Mangaluru Oil Refinery

• by Akanksha Mishra
• 2026-09-30 17:28:00

Shares of state-run Mangalore Refinery and Petrochemicals Limited (MRPL) tumbled sharply on Wednesday, diving over 10 percent from intraday highs after a devastating explosion rocked the company’s coastal oil refining complex near Jokatte, Mangaluru. Following a positive morning opening at ₹172.70 on the BSE and an early surge to a peak of ₹180.75, the counter came under rapid selling pressure as news of the industrial disaster broke, tumbling to an intraday low of ₹162.40 before stabilizing near ₹167.80 with a market capitalization of ₹29,408.61 crore.

Shockwaves Shake Bajpe Airport Building and Shatter Windows in Jokatte

The explosion occurred within MRPL's Phase-III production plant in the Jokatte industrial pocket, sending high-intensity pressure waves across surrounding localities:

Airport Facilities Rattled: The force of the detonation was so intense that it rattled the administrative office building of the Mangaluru International Airport in Bajpe, violently vibrating exterior glass panels and triggering sudden panic among on-duty staff.

Property Destruction Across Villages: In nearby Jokatte village situated along the plant border, shockwaves shattered windowpanes, door frames, and glass partitions across residential homes and the local Jokatte Gram Panchayat office.

Massive Smoke Plume: Eyewitnesses reported a deafening bang followed by roaring flames and an immense column of dense black smoke that rose high into the sky, visible from multiple kilometers across suburban Mangaluru.

Emergency Response Activated as Multiple Injuries Confirmed

Industrial safety squads and municipal disaster management teams mobilized swiftly to prevent secondary chemical explosions across adjacent storage tanks:

Burn Victim and Casualties: Local police officials confirmed that eight people suffered minor injuries from flying glass fragments and debris. An official company spokesperson stated that an on-site contract laborer sustained severe 35 percent burn injuries and was rushed to a specialized trauma center for emergency medical intervention.

Fire Brigade Mobilization: Multiple firefighting units and water foam tenders from Pandeshwar, Kadri, and surrounding civic stations rushed to the Jokatte facility to assist internal plant emergency squads in cooling down compromised pipelines.

Community Unrest and Protests: Stunned by the scale of the blast, hundreds of frightened villagers assembled outside the Jokatte panchayat office, where Democratic Youth Federation of India (DYFI) leader Muneer Katipalla raised serious concerns regarding industrial safety audits and demanded immediate accountability from the plant management.

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