MRPL declines 3% after intense monsoon forces co to shut refinery unit; stock at 52-week low

It has touched a 52-week low of Rs 49

Shares of Mangalore Refinery and Petrochemicals (MRPL) declined 3 percent intraday on August 20 after the company closed its Phase-III process units of the refinery due to intensified monsoon.

It has touched its 52-week low of Rs 49.

The company in its press release said that the refinery has been affected by a minor landslide as an aftermath of the intensified monsoon in Dakshina Kannada District, hence as a precautionary measure, we have structured shutdown of the Phase-III process units of the refinery to access the condition of the facilities in the vicinity and for immediate stabilisation.

Mangalore Refinery and Petrochemicals were quoting at Rs 49.25, down Rs 1.50, or 2.96 percent on the BSE.

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