Sigachi Industries share price slumped 12% on Monday after reports of a blast at its plant in Telangana. Sigachi Industries shares declined as much as 12.3% to ₹48.39 apiece on the BSE.
A reactor blast took place at Sigachi Pharma Company, Pasamailaram Phase 1 area of Telangana’s Sangareddy district on Monday, news agency ANI reported.
Soon after receiving the information about the incident, 11 fire tenders rushed to the spot and engaged in firefighting operations, the report added, quoting Telangana fire officials..
“The incident took place at Sigachi Pharma Company, Pasamailaram Phase 1. Eleven fire tenders have reached the site. Nearly 15-20 people have been injured. Further details awaited,” said Telangana Fire Officials, ANI reported.
Meanwhile, the administration is carrying out a rescue operation, and till now, they have not recovered any bodies from the site.
Speaking to ANI, the Superintendent of Police of Sangareddy, Paritosh Pankaj said, “Till now we haven’t recovered any bodies, rescue operation is going on, we will update in some time.”
At 12:00 PM, Sigachi Industries share price was trading 11.27% lower at ₹48.96 apiece on the BSE.
