InvestorQ : Do you see the fire in Visakhapatnam factory impacting the stock price of HPCL?
Arusha Ray made post

Do you see the fire in Visakhapatnam factory impacting the stock price of HPCL?

Answer
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3 weeks ago
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Let me talk about the fire first. The Visakhapatnam refinery of Hindustan Petroleum saw a major fire outbreak on 25 May, although the exact extent of damage to the plant is yet to be assessed and confirmed. It started after some dense fumes and flames were seen rising from the crude distillation unit in the HPCL old terminal.

However, as per early reports, almost all the people were evacuated from the area and there has been no human casualty reported till now. Additionally, the fire has been brought under control. HPCL has confirmed that refinery operations were totally normal. I don’t see any major price impact on HPCL since such damages are insured and it is fine as long as routine production does not get hindered.

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