Shares of (HOECL) plunged in Tuesday's trade after (HPCL) reported operational problems at its Mumbai refinery linked to crude oil supplied by HOECL. The stock fell 7.66 per cent to hit a low of Rs 149.55 on BSE.

HPCL, in an exchange filing, said its Mumbai refinery encountered operational issues, including corrosion in downstream units, after processing crude oil sourced from HOECL’s B-80 Mumbai Offshore oil field. The PSU noted that it had procured 54.6 thousand metric tonnes (TMT) of crude oil from the B-80 field through an auction dated August 25, 2025. Advertisement

"A part of the said crude oil received subsequently was processed in October 2025 and found to be causing operational issues, including corrosion in downstream units, yielding suboptimal outputs and turned down producti

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