Pashamylaram industrial explosion: Sigachi Industries shares plunge over 11.50 per cent

The stock plunged 11.58 per cent on June 30 to settle at Rs 48.79 apiece on the BSE. During the day, it lost 14.82 per cent to Rs 47. On the NSE, the stock cracked 11.19 per cent to Rs 48.95

New Delhi: Shares of pharmaceuticals firm Sigachi Industries Ltd tanked over 11.50 per cent on Monday after an explosion broke out at its manufacturing facility in Telangana, killing at least 12 people and injuring several others.

The stock plunged 11.58 per cent to settle at Rs 48.79 apiece on the BSE. During the day, it lost 14.82 per cent to Rs 47. On the NSE, the stock cracked 11.19 per cent to Rs 48.95.

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At least 12 people died and 34 persons were injured in a pharma plant explosion on Monday, Telangana Minister Damodara Raja Narasimha said.

The explosion took place at a reactor in the plant of Sigachi pharma company in the Pashamylaram industrial estate due to the suspected chemical reaction where fire also broke out.

Sigachi Industries Limited is a pharmaceutical company dedicated to pioneering advancements in Active Pharmaceutical Ingredients (APIs), Intermediates, Excipients, vitamin-mineral blends, and Operations and Management (O&M) services, according to the company’s website.