logo
At least 12 killed in an explosion and fire at a pharmaceutical factory in southern India

At least 12 killed in an explosion and fire at a pharmaceutical factory in southern India

NEW DELHI — An explosion and fire at a pharmaceutical factory in India's southern state of Telangana killed at least 12 people and injured several others, authorities said Monday.
The fire department recovered the charred bodies of 10 workers in an industrial area about 31 miles from the state capital Hyderabad, the state's fire services director G.V. Narayana Rao told the Associated Press.
Two other workers succumbed to burns and were pronounced dead at a hospital, Rao said, adding that debris of the gutted pharmaceutical unit of Sigachi Industries was being removed to find out if any more workers were trapped. Nearly three dozen injured workers were admitted to hospitals. he said.
'It was an explosion in a spray dryer unit of the factory, which is used to process raw material into fine powder for making drugs,' Rao said.
India is home to some of the world's top pharmaceutical companies, playing a pivotal role in the global supply of generic medicines and vaccines. The country's robust manufacturing and cost-effective production have made it a hub for pharma giants.
Industrial accidents, particularly involving chemical reactors, aren't uncommon in such factories, underlining the need for authorities to implement stringent safety protocols and regulatory oversight in a sector critical to public health.
Sigachi Industries Limited is an Indian company dealing with active pharmaceutical ingredients, intermediates and vitamin-mineral blends, according to the company's website. It has five manufacturing facilities across India, and also subsidiaries in the U.S and the United Arab Emirates.
Prime Minister Narendra Modi in a social media post expressed his anguish over the loss of lives and announced financial support of 200,000 Indian rupees ($2,333) each to the next of kin.
Roy writes for the Associated Press.
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Corporate highlights for today, July 3: Bajaj Finance, Reliance Retail, SpiceJet, Patanjali, HDFC Bank, Tata Power, GMR Airports, Vedanta, Nykaa, MOIL, Bosch and more
Corporate highlights for today, July 3: Bajaj Finance, Reliance Retail, SpiceJet, Patanjali, HDFC Bank, Tata Power, GMR Airports, Vedanta, Nykaa, MOIL, Bosch and more

Business Upturn

time5 minutes ago

  • Business Upturn

Corporate highlights for today, July 3: Bajaj Finance, Reliance Retail, SpiceJet, Patanjali, HDFC Bank, Tata Power, GMR Airports, Vedanta, Nykaa, MOIL, Bosch and more

By Aditya Bhagchandani Published on July 3, 2025, 22:30 IST Indian corporates witnessed a busy day with several notable developments: CG Power and Industrial Solutions successfully closed its QIP at ₹660 per share, raising funds from institutional investors at ~2.8% discount. Bajaj Finance posted a robust Q1FY26 business update: customer franchise rose to 106.51 million (+21% YoY), new loans booked at 13.49 million (+23% YoY), AUM jumped 25% YoY to ₹4.41 lakh crore. Reliance Retail announced a strategic minority stake in UK-based FaceGym to bring its facial workout studios to India through Tira and standalone outlets. SpiceJet clarified that a cosmetic interior window frame became loose mid-flight on its Goa-Pune service, with no safety impact. Dabur India won an interim injunction from the Delhi High Court restraining Patanjali Ayurved from airing allegedly disparaging ads against Dabur chyawanprash. HDFC Bank CEO Sashidhar Jagdishan moved the Supreme Court seeking to quash an FIR filed by Lilavati Trust after three Bombay HC judges recused from hearing his plea. Tata Power was ordered to pay $490.32 million in damages to Kleros Capital Partners over a breach of NDA, even as it reported strong Q4 earnings. GMR Airports saw shares rise after TDSAT asked AERA to recalculate the HRAB for DIAL airport, which could raise tariffs and profitability. Reliance Communications was classified as 'fraud' by SBI, implicating former director Anil Ambani over alleged fund diversion of ~₹12,692 crore. Vedanta reported Q1FY26 production: aluminium output at 575,000 tonnes (+2% QoQ) and zinc output at 252,000 tonnes (-4% QoQ). Nykaa (FSN E-Commerce) shares fell after a ~2.3% block deal by the Banga family as they pared stake. MOIL reported a 15% YoY increase in manganese ore production in Q1FY26 and a 24% YoY rise in sales. Bosch announced plans to invest ₹800 crore over the next two years for localisation of EV components and new mobility solutions. Quess Corp said it plans to divest non-core businesses and focus on scaling staffing and digital services verticals. These developments reflect the legal, operational, financial, and strategic actions shaping corporate India today. Disclaimer: The information provided here is for informational purposes only and should not be considered as financial or investment advice. Please conduct your own research or consult a professional advisor before making any investment decisions. Neither the author nor the publisher is liable for any actions taken based on this information. Ahmedabad Plane Crash Aditya Bhagchandani serves as the Senior Editor and Writer at Business Upturn, where he leads coverage across the Business, Finance, Corporate, and Stock Market segments. With a keen eye for detail and a commitment to journalistic integrity, he not only contributes insightful articles but also oversees editorial direction for the reporting team.

Inflows boost rupee to one-month high; trade deal optimism aids sentiment
Inflows boost rupee to one-month high; trade deal optimism aids sentiment

Yahoo

time19 minutes ago

  • Yahoo

Inflows boost rupee to one-month high; trade deal optimism aids sentiment

By Jaspreet Kalra MUMBAI (Reuters) - The Indian rupee touched its strongest level in a month on Thursday, lifted by dollar sales from foreign banks and cutting of bearish bets on the local currency, while optimism surrounding a U.S.-India trade deal also aided sentiment. The rupee rose to a peak of 85.20, its best level since late May, before ending the session at 85.31, up 0.4% on the day. Dollar sales from foreign banks in the latter half of Thursday's session boosted the rupee, with the rise above 85.40 also triggering stop-losses on some wagers against the currency, traders said. Asian currencies mostly rose, while the dollar index remained steady ahead of a key U.S. labour market report. Most stock indices in Asia also gained on Thursday, after U.S.-Vietnam trade discussions raised the possibility of breakthroughs for other countries in the region ahead of the July 9 tariff deadline. India's benchmark equity indexes though closed marginally lower. U.S. and India trade negotiators were pushing on Wednesday to try to land a tariff-reducing deal ahead of President Donald Trump's July 9 negotiating deadline, per sources familiar with the talks. "Given the U.S.-Vietnam trade deal and the looming July 9 deadline for the reciprocal tariff pause, markets are also alert to similar trade announcements with India and the European Union," DBS said in a Thursday note. Traders reckon a trade deal with India could push the rupee above 85, but further gains would depend on foreign inflows and if the central bank steps in shore up its FX reserves via dollar purchases. On the day, investors will also keep an eye on the U.S. non-farm payrolls report for cues on the future path of the Federal Reserve policy rates. Economists polled by Reuters expect that the U.S. economy added 110,000 jobs in June, while the unemployment rate ticked up to 4.3%. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data

IndiGo appoints Amitabh Kant as non-executive director to its board
IndiGo appoints Amitabh Kant as non-executive director to its board

Business Upturn

time3 hours ago

  • Business Upturn

IndiGo appoints Amitabh Kant as non-executive director to its board

InterGlobe Aviation Limited (IndiGo) announced on July 3, 2025, that its board of directors has approved the appointment of Amitabh Kant as a non-executive director. The appointment will take effect once he receives the required security clearance from the Ministry of Civil Aviation and is subject to shareholder approval. Kant, a former Indian bureaucrat and governance reformer, brings over four decades of experience to the board. He has served in prominent roles such as India's G20 Sherpa, CEO of NITI Aayog, and was instrumental in initiatives like Make in India, Startup India, and Incredible India. Known for spearheading large-scale sustainability projects like the Green Hydrogen Mission and transformative mobility programs, Kant is expected to contribute significantly to IndiGo's vision of becoming a global aviation player by 2030. Vikram Singh Mehta, Chairman of the board, welcomed Kant, highlighting his global and administrative expertise as valuable for IndiGo's ambitious international expansion plans. With a fleet of over 400 aircraft operating 2,200+ daily flights across 90+ domestic and 40+ international destinations, IndiGo continues to strengthen its leadership in the Indian and global aviation market. Ahmedabad Plane Crash Aditya Bhagchandani serves as the Senior Editor and Writer at Business Upturn, where he leads coverage across the Business, Finance, Corporate, and Stock Market segments. With a keen eye for detail and a commitment to journalistic integrity, he not only contributes insightful articles but also oversees editorial direction for the reporting team.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store