India's MRPL drops on report co seeks crude via tender avoiding Red Sea and Hormuz

Mangalore Refinery and Petrochemicals

27/07/2026 10:14

** Shares of MRPL MRPL.NS drop 4.3% to 162.40 rupees
** State-run refiner is seeking to import oil via a spot tender and has, for the first time, asked suppliers to avoid using the Red Sea and the Strait of Hormuz, tender document seen by Reuters shows
** MRPL did not immediately respond to a Reuters request for comment
** Co has taken a "precautionary view" as it wants to avoid a potential supply disruption along two of the world's key maritime oil trade routes, report adds, citing a source
** MRPL is also sensitive to crude price hikes caused by blockade of the Strait of Hormuz as higher oil could weigh on margins
** YTD, stock up 7%


 (Reporting by Kashish Tandon in Bengaluru)
 ((Kashish.tandon@thomsonreuters.com))